Summary
Global Automotive Industry Market Growth, Research Report, Information Segmentation by Vehicle Type (Passenger Cars, Commercial Vehicle), and Region – Global Report Forecast till 2024
Automotive Industry Market Overview
The automotive industry has continued to expand with new entrants try to develop a niche. Multi-domain companies entering the industries are striving to fend off competition from tradition players by introduction innovation automotive solutions. Many automotive companies are investing heavily on product innovation in order to ensure future sustainability.
Competition Analysis
Automotive Industry Market Growth Leaders are, Volkswagen AG (Germany), Toyota Motor Corporation (Japan), Ford Motor Company (US), Hyundai Motor Company (South Korea), Honda Motor Corporation (Japan), General Motors (US), Daimler AG (Germany), Nissan Motor Corporation (Japan), SAIC Motor Corporation Limited (China), and Fiat Chrysler Automobiles (US) are among the leading companies operating in the global automotive industry.
Segmentation
Based on the vehicle type, key industry segments are commercial vehicle and passenger car. The later currently accounts for the leading share in terms of revenue. The passenger car segment is expected to maintain its leading position throughout the assessment period. Some of the forces driving the growth of the passenger car segment include increased purchasing power, stricter government regulation, and population growth. The segment is expected to be influenced by the increased concerned over emission levels.
A data released by the International Organization of Motor Vehicle Manufacturers (OICA) revealed that in from 2010 to 2017 there was 26.95% increase on the over sales on passenger cars. Macroeconomic factors such as growth the middle-class population, increased disposable income, are improving standard of living are also providing tailwinds to the passenger car segment. Vehicle manufacturers striving to make their product more efficient and environment friendly. Fuel-economy and vehicular population are among the key area of focus. The focus is shifting towards developing future-ready automotive solutions.
Regional Analysis
The region has a become the go-to destination for car manufacturers. In APAC, countries such as China, Japan, South Korea, and India are making significant contribution to the industry. China especially has been a standout performer. During the forecast period, China’s dominance in automotive manufacturing is likely to remain unchallenged despite the emergence of new low-cost alternatives. Major American, European and Japanese car makers have set up manufacturing facilities in China owing the cost-benefits and availability of raw materials. After APAC, North America and Europe are the other two key destinations for the stakeholders.
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Automotive Sensors Market Research Report: Information by Sensors Type (Pressure, Temperature, Position, Motion, Optical, Torque, Gas, Level and other Sensors), Technology (Micro-Electro-Mechanical Systems (MEMS), Non-Electro-Mechanical Systems (NON-MEMS) and Nano-Electro-Mechanical Systems (NEMS)), Vehicle Type (Conventional Fuel Cars, Alternative Fuel Car and Heavy Vehicles) and by Region (North America, Europe, Asia–Pacific and Rest of the World) - Forecast till 2025Market HighlightsAutomotive sensors market, as going by the trend, can gain impressive growth in the foreseeable future.
The global automotive sensors market is expecting a 7% CAGR during the forecast period (2017-2023), by achieving USD 35 billion by the year 2023, reveals Market Research Future (MRFR) in an elaborate study.
Further, the study also includes drivers, segmental analysis and regional analysis to understand the market dynamics for the future.Market Drivers & ChallengesThe miniaturization and mounting disposable income of the middle-class population are considered as the key factors driving the market growth of automotive sensors significantly.
The key companies are highly offering various types of automotive and commercial vehicle sensors that are designed to monitor the passenger compartment, power train, emissions, speed and suspension of vehicles, which is another factor motivating the market to grow at a higher level in the coming years.At the same time, the number of applications included in the automotive sensors such as measure position, angular rate, pressure, torque, flexible fuel composition, exhaust temperature, and ambient gas concentrations, long-range distance, short-range distance, engine oil quality, and more are creating popularity of automotive sensors in an extensive way.The above applications are widely used among companies as it offers the highest flexibility to assemble automotive supply and valuable requirements of the customers.
In case of point, Cypress Semiconductor Corp announced on October 26, 2017, to help Denso Corp in its latest automotive stereo vision sensor for Advanced Driver Assistance Systems to offer vehicle safety.
With these sensors, it uses image-processing techniques to detect obstacles on the road, which is yet another factor contributing to the market’s growth during the forecast period.Market PlayersThe outstanding players in the global automotive sensors industry are listed as Bourns Inc. (U.S.), Broadcom Limited (U.S.), Analog Devices Inc. (U.S.), Delphi Automotive LLP (U.K), Bosch Sensortech GmBH (Germany), Infineon Technologies AG (Germany).
The demand for chocolate products has been growing over the past decade mainly due to increasing awareness of the health benefits of certain types of chocolate.
Consumers of chocolate and chocolate-flavored products are considerably price insensitive.
Factors such as urbanization and an ever-expanding middle-class population in emerging economies are encouraging the consumption of chocolate-flavored products.
Furthermore, regional ice cream flavors and types such as kulfi in India and matcha and azuki in Japan are being increasingly enjoyed with chocolate, thereby, driving the popularity of chocolate ice cream.Access Report Details @ https://www.marketresearchfuture.com/reports/chocolate-ice-cream-market-7696Asia-Pacific is expected to be the largest market for chocolate ice cream and is projected to register the highest CAGR of 6.88% during the forecast period.
Moreover, many multinational companies are investing heavily in this segment in India to increase sales.
Manufacturers are introducing new products in India, which supports the growth of the chocolate ice cream market size.Europe held a prominent share of the global chocolate ice cream market size in 2017.
The global Kitchen Appliances Market was estimated at around USD 179 billion in 2015.
Moreover, rapid urbanization and product upgrade can also contribute to market growth.Increasing electricity costs and government focus to spread awareness about energy consumption can promote environment friendly and energy efficient products.
Health conscious and geriatric population requires kitchen appliances that require less oil.
It is expected to grow at a CAGR of around 5% till 2024.Fuel types comprise of electricity, cooking gas, solar energy, fuel wood, biogas, and renewable energy.
On the basis of product structure, the industry is bifurcated into built-in and free-standing appliances.Applications are split into commercial and residential.
Commercial refrigerators are widely used in supermarkets, convenience stores, restaurants specialty food stores, grocery stores, and cafeterias.
