MEMS accelerometers market set to grow with promising CAGR of 4.8% during the forecast period from 2018 to 2026. Essentially directed by Asia Pacific, MEMS accelerometers market majorly driven by wide application area of these accelerometers. Since its invention in 1979, MEMS accelerometers have found wide application area across various end-users.
The automotive sunroof market was valued at US$ 7.83 Bn in 2020 and expected to be growing at a compounded annual growth rate (CAGR) of 9.5% from 2021 to 2029. Sunroof is a part of the vehicle roof that allows light and/or air to enter the passenger compartment of the vehicle. It is either fixed or movable. The basic intention behind the use of the sunroof is to enhance the passenger's ride experience by the use of ambient light and fresh air. Growing automobile production is one of the most prominent factors aiding the automotive sunroof market growth.
Automotive exhaust systems market valued at US$ 31.09 Bn in 2020, expected to grow with promising CAGR during the forecast period from 2021 to 2029. Essentially directed by Asia Pacific, automotive exhaust systems market majorly driven by rising production of automobiles across the globe.
Assembly line has become a key component of manufacturing process. Manufacturers across different industries facing challenges from rising market competition. Manufacturers across the globe are looking forward to reduce their operating cost and increase profitability is competitive environments. Use of assembly line solutions streamline product process and allows mass production for manufacturers while reducing manufacturing errors. It also helps manufacturers to ease out maintenance after product manufactured in assembly line. All these benefits are motivating manufacturers to invest in assembly line systems for lean manufacturing and to maintain their sustainability in competitive environments.
Vehicle security system prevents vehicle theft and avoids usage of vehicles by some unauthorized person. A significant rise in the number of automotive across the globe and proportional growth in crime associated with automotive considerably accelerated the demand for vehicle security system. Consequently, vehicle security systems market scored a value of US$ 7.50 Bn in 2020 and projected to mark US$ 13.95 Bn by 2029. The market contemplated growing with a growth rate of 6.7% throughout the forecast period from 2021-2029.
Industrial manufacturing and processing across several products witnessing a more sophisticated and organized approach by incorporating material handling equipment. The equipment is used to sort, transport, orient and handle material used during a production or storage process quickly and effectively. Owing to these properties almost every industry is approaching to make material handling equipment as a part of their production line.
Global proximity sensors market was valued at US$ 2,578.9 Mn in 2017 and set to grow at a CAGR of 6.2% throughout the forecast period from 2018 to 2026. With increased market penetration of smart devices such as smartphones, smart cameras among others, consumer electronics segment contributed with highest share in overall proximity sensors market growth.
Automotive wheel rims market value expected to reach US$ 62.7 Bn by 2026, expanding with a CAGR of 5.1% during the forecast period from 2018 to 2026. Essentially directed by Asia Pacific, automotive wheel rims market majorly driven by rising production of automobiles across the globe.
The global automotive timing belt market is increasing significantly, anticipated to grow at a CAGR of 5.9% during the estimated period from 2025 to 2033, starting from US$ 7.58 Bn in 2020. The global automotive timing belt market is majorly driven by the increasing manufacturers focus on improved fuel economy and engine efficiency across the globe. The increased use of thermally-stable materials for the manufacturing of timing belts coupled with increased aftermarket are some major factors driving the market growth over the forecast period. The growing vehicle-in-operation and increased average miles traveled are some key factors expected to enhance the market growth over the forecast period. As per the U.S. Department of Transportation Federal Highway Administration report published in 2020, the average miles driven were 13,476 miles per year, which is most in history.
The overall automotive tires market worldwide is set to exhibit steady growth rate throughout the forecast period from 2018 to 2026, starting from US$ 155.29 Bn in the year 2017. Tires are among the most important components of automotive vehicles, making it one of the most crucial aspects of the overall automobile components industry.
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.