The global bicycle market, at $43.7 billion in 2020, has strong growth through 2027. It is anticipated to reach $140.5 billion by 2027, at a CAGR of 18.1% from 2020 to 2027.
The worldwide markets are poised to achieve continuing growth as bicycles prove value by encouraging healthy exercise efforts. Lowering exposure to Covid-19 while traveling to work is a key benefit of cycling.
Covid-19 restrictions-imposed restrictions on the activities of corporations and people. The restrictions have resulted in the increased use of bicycles. Covid spread has created the demand for social distancing affecting transportation. Pandemic response demands that people change their transport means to methods that do not have the risks associated with mass transit – risks associated with subways and buses. Bicycles fill this need.
Demand for bicycles began to rapidly increase with Covid. Cycling, an easy form of recreation and exercise, is easily adapted to a transport vehicle inside cities and suburbs. It is as well a mode of transportation that lowers the risk of infection. Subsidies to encourage the purchase of bicycles and policies to build infrastructure such as bike lanes have contributed to the cycling boom.
According to the lead author this study on the bicycle market, “During the current pandemic, bicycles have become a preferred means of transportation. Public transportation, subways, busses, Uber, and taxis carry a risk of infection. Bicycles have become perceived as a safer way to move around.”
Workers from every industry, particularly those deemed essential, including direct caregivers are rapidly bicycle transportation as the safest way to get to and from work.
During the pandemic shelter in place government orders, bicycles and in place spin bales for indoor exercise have become popular. People stuck at home are frequently using bicycles as a means of getting exercise in place. When they do get out for a few minutes the bike is a good way to move around and stay away from people who might be contagious. Bicycle markets are expected to experience significant growth due to circumstances resulting from COVID-19 (coronavirus disease) to reduce the risk of transmission to healthy people.
The growth in bicycle markets is anticipated to last for five years and perhaps beyond. Expectations are that the new coronavirus SARS-CoV-2 will continue to present risk for the next three to four years and people will use bicycles to avoid risk during that time. Momentum will carry the market for another three years.
Hydrogen fuel cell vehicles are set to become a major player in China’s commercial truck market, predicts JPMorgan’s Elaine Wu.
“Currently, the fuel cell vehicles account for less than 5% of the commercial truck market in China and that could grow to about one-third of total market share in 2050,” Wu, head of Asia ex-Japan ESG and utilities research at the firm, told CNBC’s “Squawk Box Asia” on Monday.
Fuel cell electric vehicles run on electricity powered by hydrogen, which can can be used to store and deliver energy derived from other sources. Hydrogen is a clean fuel and when consumed in a fuel cell, produces only water.
One reason why fuel cell vehicles are a “very good option” for the commercial truck market is due to their refueling time of only around 10 to 15 minutes, Wu said. They also have a travel range of around 800 kilometers, about 50% to 100% above lithium battery electric vehicles.
Major automakers such as Toyota, Honda and BMW are tapping into the hydrogen fuel cell market.
China is already pushing for the promotion of fuel cell vehicles, according to the JPMorgan analyst.
“The [Chinese] government is promoting something, what we call ‘city clusters’ so that there could be demonstrative cities telling successful stories of how fuel cell vehicles are implemented in various parts of the country,” Wu said.
“This is also a policy that we saw implemented about a decade ago, when the central government was trying to produce lithium battery electric vehicles. And we saw how successful that was.”
Beijing has said it would like 20% of new cars sold to be new energy vehicles by 2025. Competition is fierce in the domestic electric vehicle space, with Tesla competing against the likes of homegrown players such as Nio and Xpeng.
“For this heavy industrial sector, high heat content is required and renewable power therefore is not a good option to fuel heavy industrial sector — but hydrogen is,” she said.
The analyst said China leads the world in hydrogen production, and accounts for a third of global output.
Read more about electric vehicles from CNBC Pro
“In the future, there could be promotion of green hydrogen production whereby renewable power is going to be used to produce hydrogen,” Wu added.
Hydrogen is currently produced from coal, and shifting to green production will only be possible if renewable power costs continue to decline, she added.
“What we’ve seen in the past 10 years is that the cost to produce solar power has dropped by 80% in China. The cost of wind power production has dropped by 40%,” she said. “If this trend continues — and we believe that it will due to technology advancement — so that means that green hydrogen will be possible in the future when these things come into play.”
New York, Aug. 11, 2021 (GLOBE NEWSWIRE) — Automotive Voice Recognition System Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive Voice Recognition System Market Research Report, Technology, End Market, Application, Vehicle type and Region – Forecast till 2027” the market Size is projected to be worth USD 4.87 Billion by 2027, registering a CAGR of 22.48% during the forecast period (2021 – 2027), The market was valued at USD 1.39 Billion in 2020.
The automotive voice recognition system market is garnering significant traction. Factors such as the surging demand for infotainment systems and VR evolutions integrated with assistant systems drive the market growth. Besides, the rising uptake of infotainment systems in high-end cars boosts the voice recognition system market size. The rapidly growing awareness for vehicle safety features influences the market rise.
Additional factors bolstering the market growth include increasing spending on personalized comfort features and stringent government norms for safety features in automobiles. AI and social media recommendations inside vehicles are natural extensions of automotive voice recognition capabilities. Impressive machine learning capabilities have brought immense improvements in voice tracking and recognition system. Similarly, AI capabilities have impacted the adoption trends.
List of the Key Companies Profiled in the Automotive Voice Recognition System Market Research Report are:
Highly competitive, the automotive voice recognition system market appears fragmented with the presence of several well-established players. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launch to gain a larger competitive share.
They make substantial investments to drive R&D activities and expansion plans. The market is likely to witness relentless innovations and new products, eventually intensifying competition among manufacturers.
For instance, on Mar.01, 2021, Hyundai announced the development of a dynamic voice recognition system for selected models of the 2021 -Elantra and Elantra Hybrid in North America. The new automotive voice recognition system is powered by Houndify, a leading global voice AI and conversational intelligence technologies innovator. The dynamic voice recognition system makes the driving experience safer, easier and more convenient, providing cloud-based information from various knowledge domains.
Browse In-depth Market Research Report (111 pages) on Automotive Voice Recognition System
Key trends influencing the voice recognition system market growth include payment-by-vehicle, auto-retail partnerships, brand-specific AI systems, voice engine optimization, and advancements in privacy & security. Additionally, technological advances in motion and speech-recognition sensors & functions and integration from human-to-machine and machine-to-human would foster market growth.
The automotive voice recognition system market is assessed to witness tremendous demand in the recent future due to emerging trends such as driverless or autonomous cars. Advanced artificial intelligence-powered voice-recognition systems are used to operate multiple features, including navigation control, phone calls, calendar, media control, weather information, climate control, and holiday & ticketing information, all through voice commands.
Abstract: Global Automotive Control Panel Market to Reach US$448. 2 Billion by the Year 2027. Amid the COVID-19 crisis, the global market for Automotive Control Panel estimated at US$281.
New York, Aug. 11, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Automotive Control Panel Industry” – https://www.reportlinker.com/p05797969/?utm_source=GNW 7 Billion in the year 2020, is projected to reach a revised size of US$448.2 Billion by 2027, growing at a CAGR of 6.9% over the analysis period 2020-2027.Electric Window, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$130.3 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rotary Switch segment is readjusted to a revised 6.1% CAGR for the next 7-year period. This segment currently accounts for a 22.9% share of the global Automotive Control Panel market.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 10.4% CAGR for the Period of 2020-2027
The Automotive Control Panel market in the U.S. is estimated at US$76.2 Billion in the year 2020. The country currently accounts for a 27.05% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$97.6 Billion in the year 2027 trailing a CAGR of 10.4% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR while Rest of European market (as defined in the study) will reach US$97.6 Billion by the year 2027.
Roof Light Segment Corners a 14.7% Share in 2020
In the global Roof Light segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$31.4 Billion in the year 2020 will reach a projected size of US$44.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$61.3 Billion by the year 2027, while Latin America will expand at a 6.8% CAGR through the analysis period.
But two new reports indicate that things may be starting to cool off.
Wholesale used car prices — what car dealers pay for the cars they sell to customers — fell in the first two weeks of July, while used vehicle inventories at dealerships increased,according to Cox Automotive.
In addition, the retail price of used cars — the amount consumers pay — has continued to increase, but at a slower pace over the past month, according to aseparateCox Automotive report. While it’s not certain yet, Cox Automotive analysts think retail prices will start coming downover the coming weeks.
Getting all the way back to normal will still take a long time, however, said Charlie Chesbrough, a senior economist at Cox Automotive.
Used car prices have been driven to extremes, thanks to a combination of demand from consumers wary of taking public transportation and a major shortage in the computer chips needed to make new cars.
The average price of a used car in the United States passed $25,000 for the first time ever at the end of June, a 26% increase from the year before and up 29% from two years ago.
Wholesale used car prices are also beginning to taper off. According to a recent Manheim Used Vehicle Value Index report, wholesale used car prices, overall, are still up almost 25% compared to a year ago. But, in the first weeks of July, prices dropped 1.7% compared to the month before.
These price comparisons are statistically adjusted for the differing mix of vehicles sold and for normal seasonal fluctuations, according to Cox.
“The latest trends in the key indicators suggest wholesale used vehicle values will continue to see a similar amount of depreciation in the days ahead,” the report said.
Manheim, a subsidiary of Cox Automotive, is America’s largest seller of wholesale used vehicles to auto dealers.
While the used car market is no longer at a full rolling boil, it will take some time for ordinary car shoppers to notice a difference, Chesbrough said.
“This frenzy to acquire inventory is backing off a little bit so the price is starting to come down a little bit,” Chesbrough said. “That generally means that, four to eight weeks from now, on the retail side, we should see the froth come down a little bit, a little bit less upward pressure.”
Used car prices still aren’t expected to return to anywhere near what theywerebefore the coronavirus pandemic anytime soon, he said.
“My sense is that given the supply shortage on the new[car] side, we’re looking at a used market that’s going to be constrained for supply for the foreseeable future,” he said, “and those prices are going to remain elevated as a result.”
Some customers have balked at paying top dollar for new cars and have opted to make do with older vehicles. That has increased demand for parts and service, one of the most profitable businesses for car dealers. Many dealers have extended repair-shop hours. Mr. Ricart said he had some repair technicians putting in 10- or 12-hour days three or four days in a row before taking a few days off.
Of course, the shortage of cars will end, but it isn’t clear when.
As Covid-19 cases and deaths rose last spring, automakers shut down plants across North America from late March until mid-May. Since their plants were down and they expected sales to come back slowly, they ordered fewer semiconductors, the tiny brains that control engines, transmissions, touch screens and many other components of modern cars and trucks.
At the same time, consumers confined to their homes began buying laptops, smartphones and game consoles, which increased demand for chips from companies that make those devices. When automakers restarted their plants, there were fewer chips available.
Many automakers have had to idle plants for a week or two at a time in the first half of 2021. G.M., Ford Motor and others have also resorted to producing vehicles without certain components and holding them at plants until the required parts arrive. At one point, G.M. had about 20,000 nearly complete vehicles awaiting electronic components. It began shipping them in June.
Ford has been hit harder than many other automakers because of a fire at one of its suppliers’ factories in Japan. At the end of June, Ford had about 162,000 vehicles at dealer lots, fewer than half the number it had just three months ago and roughly a quarter of the stocks its dealers typically hold.
This month, Ford is slowing production at several North American plants because of the chip shortage. The company said it planned to focus on completing vehicles.
Mr. Ricart recently took a trip on his Harley-Davidson to Louisville, Ky., and got a look at the trucks and S.U.V.s at a Ford plant that are waiting to be finished. He said he saw “thousands of trucks in fields with temporary fencing around them.”
New passenger car registrations in the UK amounted to 186,128, although the growth rate of 28% year-over-year is considered “artificially lifted” as the 2020 year was affected by lockdowns.
The plug-in electric market on the other hand continues to expand at a rapid rate. In June, the number of registrations increased 131% year-over-year to almost 32,000. That’s 17.2% of the market!
It’s one of the best months ever and let’s take a note that all-electric cars took more than a tenth of the market.
BEVs: 19,842 (up 123% year-over-year) at market share of 10.7%
PHEVs: 12,139 (up 146% year-over-year) at market share of 6.5%
Total: 31,981 (up 131% year-over-year) at market share of 17.2%
So far this year, more than 132,000 new passenger plug-in cars were registered in the UK at an average market share of 14.5%.
BEVs: 73,893 (up 139% year-over-year) – market share of 8.1%
PHEVs: 52,207 (up 197% year-over-year)- market share of 6.4%
Total: 132,100 (up 161% year-over-year) – market share of 14.5%
More details, including also other types:
In June, the volume deliveries of the Tesla Model 3 (as usual in the last month of a quarter) resulted in a very strong result of 5,468 registrations, which is the best result overall.
The Model 3 is not yet in the top 10 year-to-date, which means it must be below 15,124. What we know is that with 6,585 units in March, the Model 3 is at no less than 12,053.
Vauxhall (part of Opel) reports that the Vauxhall Corsa-e (in the rest of Europe known as Opel Corsa-e) noted 2,795 sales so far this year and remains the best-selling all-electric supermini (the Corsa is also #1 overall with 24,399 ICEs/BEVs).
Vauxhall Vivaro-e is the top-selling electric delivery van in the UK, with a record of 613 units in June, and 1,487 YTD. Sales of the Vivaro-e clearly accelerate thanks to a huge order backlog.
“Vauxhall enjoyed a successful first half of 2021 in the LCV sector, with e-LCV sales topping 1,487. Vauxhall is now one of the few manufacturers able to offer fleets and business customers an electric van across its entire LCV line-up, following the announcements of its All-New Movano-e large van and the All-New Combo-e compact van.
Sales success in the first half of the year was underpinned by the multi-award winning all-electric Vivaro-e, which has seen record sales of 613 in June, making it the best-selling model not only this month, but for the year-to-date in the a e-LCV sector.”
DALLAS, TX / ACCESSWIRE / May 8, 2020 / The technologies in automotive lighting have undergone significant change in recent years, with xenon headlamp to LED and laser Pixel Lighting solutions. The rising wave of new technologies, such as laser, µAFS LED, flexible OLED are creating significant potential for automotive lighting in various vehicles to enable the driver visibility at longer range and provides safety to other drivers and pedestrians.
In automotive lighting market, various technologies, such as halogen, xenon, LED and laser technologies are used for the interior and exterior lighting solutions. Increase in demand for premium segment vehicles, lighting regulations for better visibility and safety, and high demand for adaptive lighting are creating opportunities for various automotive lighting technologies.
To download free PDF brochure please go to https://www.lucintel.com/technology-automotive-lighting-market.aspx
Lucintel study finds that automotive lighting technology is forecast to grow at a CAGR of 3% from 2019 to 2024. LED lighting technology is the largest segment of this market and is growing at above average growth. Hella, Philips, Osram Licht, Valeo, Zizala, Robert Bosch, and Zkw are among the major players in the automotive lighting market.
Lucintel, a leading global management consulting and market research firm with over 1,000 clients worldwide, has analyzed the technologies used in automotive lighting market, and it has now published a comprehensive research report titled “Technology Landscape, Trends and Opportunities in the Global Automotive Lighting Market 2019-2024″. This report analyzes technology maturity, degree of disruption, competitive intensity, market potential and other parameters of various technologies in automotive lighting market.
The Lucintel report serves as a catalyst for growth as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes technology readiness, competitive intensity, regulatory compliance, disruption potential, trends, forecasts and strategic implications for the global automotive lighting technology by application, technology, and region as follows:
Technology Readiness by Technology Type
Competitive Intensity and Regulatory Compliance
Disruption Potential by Technology Type
Trends and Forecasts by Technology Type [$M shipment analysis from 2013 to 2024]:
Technology Trends and Forecasts by Application [$M shipment analysis from 2013 to 2024]:
Technology Trends and Forecasts by Region [$M shipment analysis for 2013 to 2024]:
Latest Developments and Innovations in the Automotive Lighting Technologies
Companies / Ecosystems
Strategic Opportunities by Technology Type
This more than 150-pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
Lucintel, the premier global management consulting and market research firm, creates winning strategies
The report on Automotive SoC Market offers in-depth analysis on market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report include the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forcast years. The global automotive soc market is segmented on the basis of type, application, and geography.
The global Automotive SoC market was valued at US$ 12,931.5 Mn in 2018 and is projected to increase significantly at a CAGR of 8.0% from 2019 to 2028.
Automotive SoC Market Scope:
By type, the market is segmented into Passenger Cars, and Commercial Vehicles. By application, the market is divided into Infotainment Systems, ADAS, and Others.
Based on geography, market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Major players profiled in the report include Texas Instruments Incorporated, Infineon Technologies AG, Intel Corporation, NVIDIA Corporation, Qualcomm Technologies Inc., STMicroelectronics, NEC Corporation, NXP Semiconductors, ON Semiconductor Corporation, and Renesas Electronics Corporation.
trending_up Total Revenue in 2018
$ 12,931.5 Mn
trending_up Market CAGR of the Next Ten Years
no_encryption Market Value (US$ Mn), Share (%) and Growth Rate (%) Comparison 2012-2028
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no_encryption Leading Companies Financial Highlights
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trending_up Market Revenue of the Next Ten Years
$ XXXX Mn
Key Market Segments
Key Market Players included in the report:
Texas Instruments Incorporated
Infineon Technologies AG
Qualcomm Technologies Inc.
ON Semiconductor Corporation
Renesas Electronics Corporation
Reasons to Get this Report:
In an insight outlook, this research report has dedicated to several quantities of analysis industry research (global industry trends) and Automotive SoC Market share analysis of high players, along with company profiles, and which collectively include about the fundamental opinions regarding the market landscape; emerging and high-growth sections of Automotive SoC Market; high-growth regions; and market drivers, restraints, and also market chances.
The analysis covers Automotive SoC Market and its advancements across different industry verticals as well as regions. It targets estimating the current market size and growth potential of the global Automotive SoC Market across sections such as also application and representatives.
Additionally, the analysis also has a comprehensive review of the crucial players on the Automotive SoC Market together side their company profiles, SWOT analysis, latest advancements, and business plans.
The analysis objectives of the report are:
To equitably share in-depth info regarding the crucial elements impacting the increase of industry (growth capacity, chances, drivers, and industry-specific challenges and risks).
To know the Automotive SoC Market by pinpointing its many subsegments.
To profile the important players and analyze their growth plans.
To endeavor the amount and value of Automotive SoC sub-markets, depending on
LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive pressure sensors market and it is poised to grow by USD 614.21 million during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Continental AG, Delphi Technologies, DENSO Corp., Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, Sensata Technologies Inc., TE Connectivity Ltd., and Texas Instruments Inc. are some of the major market participants. The demand for automobiles will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for automobiles has been instrumental in driving the growth of the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive pressure sensors market report covers the following areas:
Automotive Pressure Sensors Market Size
Automotive Pressure Sensors Market Trends
Automotive Pressure Sensors Market Industry Analysis
This study identifies demand for safer and smarter systems in automobiles as one of the prime reasons driving the automotive pressure sensors market growth during the next few years.
We provide a detailed analysis of vendors operating in the automotive pressure sensors market, including some of the vendors such as Continental AG, Delphi Technologies, DENSO Corp., Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, Sensata Technologies Inc., TE Connectivity Ltd., and Texas Instruments Inc. Backed with competitive intelligence and benchmarking, our research reports on the automotive pressure sensors market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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