The automotive test equipment market is predicted to witness significant growth through the forecast period 2025 – 2033 with increasing motor vehicle production across the world. In addition, the introduction of mandatory regulations to reduce fuel emission, improve vehicle safety and repair and maintenance policies in major countries across the world. All these factors are expected to drive the market for automotive test equipment in the next five years.
The mounting pressure on industrial manufacturers to achieve economies of scale, deliver quality product, sustain profitability, and meet the ever rising consumption demand has led to increased industrial automation. This, in turn has had positive impact on the overall demand for automated optical metrology solutions in inspection, quality control, reverse engineering, and virtual simulation applications. The mounting pressure to match quality standards and high error occurrences in the traditional measuring solutions are further expected to favor market demand during the forecast period 2021 - 2029.
The global electric vehicles market has observed a significant growth in the last five years and is expected to witness double digit growth through the forecast period 2021 - 2029. This growth is primarily attributed to introduction of mandatory policies to reduce green house gases and vehicle fuel consumption in several countries. In addition, U.S. and European countries are offering incentives for purchase of a new electric care in order to promote use of electric cars. Rising fuel prices and improving economic conditions are also expected to spur the demand for electric vehicles.
The advancements in measurement technologies supported by the growing demand for portable and easy-to-use metrological solutions have been instrumental in driving adoption of articulated arm machines beyond traditional verticals like automotive and machine shops. Unlike fixed CMM (Coordinate Measuring Machine) configurations, articulated machines offer superior benefits in terms of portability, weight, and flexibility in measurement.
Demand for portable CMM (Coordinate Measuring Machine) software, growing acceptance for point cloud capabilities, and drive towards precision engineering are collectively driving adoption of metrology software solutions across the globe. In addition, their ability to integrate multiple functions within a single unit, thereby making device compact has further fueled market momentum in different verticals. These factors are expected to contribute towards a single digit compounded annual growth rate (CAGR) during the forecast period 2016 – 2025. The global metrology software market is expected to exceed US$ 652.1 Mn by 2025.
The resurgence in the industrial sector post economic slowdown coupled with the growing trend towards automated manufacturing units is instrumental in driving demand for metrology solutions and services. Furthermore, advancements in measurement technologies and mounting preference for portable metrology solutions have further fueled market momentum. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.9% during the forecast period 2016 – 2025.
Mobile robot is an automated machine that can be used for performing different human tasks and activities. Mobile robots are designed to move around and are not fixed to one location as general robots. Various types of mobile robots include unmanned ground vehicles (UGVs), unmanned aerial vehicles (UAVs), unmanned surface vehicles (USVs), and autonomous underwater vehicles (AUVs). Mobile robots have found wide applications across industrial, defense and other security end-use sectors.
The global motor vehicle sensors market is expected to witness steady growth with rising production and sale of motor vehicles across the world. In addition, stringent vehicle emission regulations in developed as well as developing countries are supporting the growth of motor vehicle sensors. Moreover, rising demand for advanced motor vehicles increasing the demand for driver assistance and safety systems.
This report analyzes the global augmented reality market in terms of display type, component, end-use application, and geography. On the basis of display type, the global augmented reality market is segmented in to head mounted displays (HMD), handheld displays, head-up displays (HUD), and spatial displays. Furthermore, based on component, the market is segmented into hardware (display, sensors, and semiconductor component), and software. Similarly, on the basis of end-use application, the market for augmented reality is classified into consumer (gaming, and entertainment), commercial, healthcare, defense and aerospace, and others (automotive, engineering and design, etc.)).
The existing static front lighting systems provide illumination straight onto the surface of road/ground without any sensitivity to curves or steering control. This creates difficulty for the driver when driving (during dark) through curves and blind spots. Since the conventional lighting system illuminate surface right in front of the vehicle, the amount of illumination provided on curves is insufficient.According to the U.S. National Highway Traffic Safety Administration, more than half of the total number of accidents occur during dark despite the fact that only 25% of the overall traffic travels occurs during night time.
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.