U.S. Automotive Aftermarket Size Worth $86.2 Billion By 2025

The U.S. automotive aftermarket size is expected to reach USD 86.2 billion by 2025, registering a 1.8% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of automotive technologies such as exhaust and safety technologies coupled with other aspects influencing vehicular performance. The market is estimated to remain innovation-led with the introduction of new chemicals and metals that provide cost-efficiency and weight reduction in automobiles. In addition, the increasing vehicle parc and vehicle age in the U.S. are expected to contribute to the growing demand for replacement parts, thus driving market growth in the country.

Rising disposable income in the U.S. is creating a positive growth outlook for the sales of passenger cars. The increasing demand for aftermarket parts is directly proportional to the growing sales of passenger cars. Moreover, factors such as developing infrastructure and increasing adoption of modern lifestyle across the country are contributing to the growth of automotive aftermarket. Technological proliferation and high investments in R&D by automakers are expected to further drive demand for automotive aftermarket components over the forecast period. Furthermore, increasing trade activities of goods and materials via road transportation are expected to fuel the demand for heavy commercial vehicles. This, in turn, is likely to result in the high demand for products such as tires, towing, wheels, and other miscellaneous accessories, thereby contributing to the market growth in future.

Efforts taken by vendors to make aftermarket products available in adequate quantities and improve the quality of recycled products have contributed to the high demand for alternative parts such as engines; door assemblies; transmissions; sheet metal products such as fenders, trunk lids, and hoods; bumpers; and lights assemblies. In addition, maintaining a high inventory level and wide distribution network allows higher fulfillment rates, which is also boosting the sales of alternative parts. However, the increasing adoption of hybrid and electric vehicles is hampering the growth opportunities for automotive aftermarket components, mainly exhaust components. As a result, the threat of substitutes for aftermarket parts is expected to remain high over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/us-automotive-aftermarket

Further key findings from the report suggest:

The rise in sales of automobiles, increased purchasing power, and improved standard of living are expected to drive growth for the automotive aftermarket industry.
Increasing consumer awareness regarding environment protection and the use of environment-friendly products with minimum carbon footprint deliver positive growth prospects for the market
The tire segment is anticipated to dominate the market by 2025 on account of frequent changing of tires in comparison to their automotive component counterparts
The automotive aftermarket is shifting toward the automation of various functions and processes as automation increases accuracy, enhances efficiency, improves workplace safety, and reduces human errors
The trend of combining Industry 4.0 with information technology and operational technology has resulted in a landscape governed by supply chain digitalization, creating a sustainable impact on the automotive aftermarket industry

Electric Mobility Market Size Worth $489,315.6 Million By 2025

The global electric mobility market size is expected to reach USD 489,315.6 million by 2025 and register CAGR of 21.6% from 2019 to 2025, according to a study conducted by Grand View Research, Inc. Electric mobility, or E-Mobility or Electro Mobility is increasingly accounting for a significant share of the global automotive industry and is changing the way mobility as a concept is conceived by the end-user. Governments across the globe are proactively adopting strategies promoting the adoption of electric vehicles (EVs) with an aim of reach the goals related to climate change, dependence on oil, local air quality, and industrial development. Government initiatives aimed at reducing the global carbon footprint by minimizing the consumption of conventional fuel, bringing down the cost of environment-friendly and high-capacity batteries, and the growing consumer preference for shared mobility are expected to drive the market over the forecast period.

Advances in E-sharing mobility services such as shared taxi, ride sharing, and E-bike and car sharing are expected to increase the consumption of EVs use globally. However, a lack of consumer awareness pertaining to maintenance cost of EVs is a primary barrier to their widespread adoption. Although the upfront cost of an EV exceeds that of cars powered by IC engines, the reduction in battery cost have ultimately reduced the costs of EVs to a great extent over the past four years. These favorable trends with respect to cost, combined with changing consumer preferences, are likely to enhance the adoption of EVs, thereby augmenting the growth of the global market for electric mobility.

Geographically, Asia Pacific accounted for over 53% E-mobility market share in 2018. This is majorly due to presence of some of the leading producers of EVs in countries such as Japan, and China. Moreover, several countries in the region are planning to ban the sales of internal combustion engines and have set goals to achieve a certain share of EVs in their vehicular fleet by certain years in the near future to promote the uptake of cleaner vehicles. For instance, the Indian government has decided to increase financial support for EVs to up to USD 1.3 billion under its second phase of Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles (FAME II) scheme.

Some of the key players in the market for E-mobility are Zero Motorcycles, Inc., Kinetic Green Energy & Power Solutions Ltd., General Motors, Terra Motors, BYD Company Ltd., Vmoto Limited ABN, Continental AG, Mahindra Electric Mobility Limited, ALTA MOTORS, Tesla, Accell Group, and Nissan Motor Corporation. The transition to electric mobility is opening lucrative opportunities for the existing as well as new market entrants to operate with new business models across the value chain of the market. Leading companies are focusing on acquisitions and expansion opportunities to tap a larger share of the market.

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https://www.grandviewresearch.com/industry-analysis/electric-mobility-market

Further key findings from the report suggest:

Based on battery, the Li-ion segment is likely to register the highest CAGR of 23.8% over the forecast period. Remarkable growth prospects exist in the Li-ion battery market as battery suppliers and manufacturers strive to offer safe, reliable, and cheap battery solutions with improved energy density, making EVs a feasible option for consumers
In terms of product, the electric car segment accounted for the dominant revenue share of the electric mobility market in 2018 and is estimated to retain its dominance over the forecast period as well
By voltage, the 24V segment held the dominant share in the market in 2018 and is likely to continue to account for a significant share over the forecast period as well. However, the demand for segment of greater than 48V is anticipated to substantially rise in the near future
Asia Pacific is expected to be the largest regional E-mobility market over the forecast period owing to massive investments in vehicle charging infrastructure for electro mobility services and is expected to reach USD 274,200.2 million by 2025
Zero Motorcycles, Inc., Kinetic Green Energy & Power Solutions Ltd., General Motors, Terra Motors, BYD Company Ltd., Vmoto Limited ABN, Continental AG, Mahindra Electric Mobility Limited, ALTA MOTORS, Tesla, Accell Group, and Nissan Motor Corporation are some of the leading vendors in the market.

DC Motor Control Devices Market Size Worth $1.18 Billion By 2025

The global DC motor control devices market size is expected to reach USD 1.18 billion by 2025, exhibiting a CAGR of 6.2% from 2018 to 2025, according to a study conducted by Grand View Research, Inc. DC electric motors are being widely used in modern systems, whether in consumer electronics, or industrial, automotive, and transportation industries. Improved performance of these motors in such applications is a result of the underlying electronic controls that are able to rapidly execute sophisticated control algorithms. Thus, increasing demand for motors in such applications, coupled with improved motor performance, is anticipated to drive the market over the forecast period.

Sensorless motor control devices are generally used to reduce overall cost of actuating devices. However, with advancements in sensor control techniques, the market for DC motor control devices is anticipated to gain traction over the forecast period. Furthermore, recent market requirements, such as compatibility with IE3 motors, and changes in motor control systems in several application areas such as industrial, consumer electronics, and medical devices are expected to favor market growth over the coming years.

The market is expected to witness significant demand from the automotive industry owing to introduction of vehicle safety standards to control fuel emissions and increasing adoption of engine control units (ECUs) in modern automobiles. Additionally, growing R&D activities to improve energy efficiency of electric motors are anticipated to boost market growth. For instance, the U.S. Department of Energy invested a substantial amount in 13 R&D projects pertaining to technological advancements in electric motors. These advancements are expected to positively impact the efficiency and performance of motor devices when used in various end-use industries.

However, factors such as uncertainties in raw material prices, limited availability of components, and reduction in overall production of raw materials are contributing to increased product costs, thereby negatively impacting market growth. In order to overcome these challenges, major companies are undertaking several measures to maintain consistency in prices and availability of raw materials. These companies have been entering into long-term supplier contracts to mitigate risks associated with quality and quantity of materials.

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https://www.grandviewresearch.com/industry-analysis/dc-motor-control-devices-market

Further key findings from the report suggest:

North America accounted for more than 25.0% of the overall market in 2018 and is expected to witness steady growth over the forecast period owing to presence of key market incumbents such as Eaton Corporation Plc and ABB offering cost-effective solutions and quality products
The consumer electronics segment accounted for a significant in 2018 and is anticipated to grow at a substantial CAGR over the forecast period owing to increasing demand for handled devices and home appliances in developing countries such as India and China
Prominent players in the DC motor control devices market include ABB, Eaton Corporation Plc, General Electric, and OMRON Corporation. These companies are extensively investing in research and development activities in order to introduce compact products.

Automotive Cyber Security Market Size Worth $5.56 Billion By 2025

The global automotive cyber security market size is expected to reach USD 5.56 billion by 2025 expanding at a CAGR of 21.4% during the forecast period, according to a study conducted by Grand View Research, Inc. Increasing risks of data breaching due to rise in number of connected and automated vehicles will drive the market. Moreover, growing emphasis of OEMs on strengthening cyber security policies is expected to propel the demand for automotive cyber security over the projected period. Cloud infrastructure, mobile cross platforms, and automotive data taxonomy, are the key connectivity trends in the automotive cyber security market.

Technological advancements pertaining to network connectivity in autonomous vehicles are gaining traction owing to increasing data and volume of data exchange, which is also likely to contribute to the market growth. Moreover, onboard electronic information-control systems like tire-pressure, electric power steering, fixed-speed cruise control, and auto-braking sensors have become mandatory across all the vehicle categories. Other sophisticated systems are also making their way into automotive electronics applications, such as infotainment, ADAS, navigation, powertrain, and safety systems. This, in turn, would further increase the vehicle-to-everything communication, thereby creating lucrative growth opportunities for the market in automotive sector.

North America is the largest regional market due to increasing demand for autonomous vehicles and quick adoption of new technologies like smart antenna and connected car systems. Moreover, rising investments and stringent measures taken by the government towards incorporating cyber security policies for the automotive market have bolstered the regional market growth. Some of the prominent industry participants include Vector Informatik GmbH, Arilou Technologies, NXP Semiconductors N.V., Argus Cyber Security Ltd, ESCRYPT, Continental AG, and HARMAN International.

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https://www.grandviewresearch.com/industry-analysis/automotive-cyber-security-market

Further key findings from the report suggest:

The passenger car segment in Europe is expected to account for 77.1% by 2025 due to rising production of Electric Vehicles (EVs), development and implementation of cyber security strategies, eco-friendly initiatives, and growing scope of data exchange
Infotainment application led the market in China due to quick adoption of advanced vehicle technologies
Wireless network security segment is expected to account for the largest share of the global automotive cyber security market by 2025
Emphasis of OEMs on capabilities offered by connected car systems that have enabled a broad range of service and features contributes to growth of the market in developed economies

Automotive Relay Market Worth $19.5 Billion By 2025

The global automotive relay market size is anticipated to reach USD 19.5 billion by 2025, at a registering a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing vehicular safety regulations in various regions across the globe is driving the automotive relay market. Further, increasing adoption of electric vehicles amongst passenger car segment end users has made automotive electronics including the automotive relay industry to gain significant market share.

Systems such as advanced driver assistance systems (ADAS), electronic stability control, electronic steering systems, brake-by-wire systems, and airbags are gaining momentum across the globe, owing to their safety and comfort benefits. Strict safety guidelines employ substantial pressure on Tier-1 suppliers and the OEMs to design improved safety systems for automobiles. According to General Safety Regulation (EC) No 661/2009 of Europe, from 1 November 2014, several new safety features have been made obligatory for light trucks, heavy commercial vehicles, and new passenger cars. Furthermore, there is a growing demand for enhanced comfort and convenience in automobiles.

Many governments provide lucrative offers to promote the selling and usage of Electric Vehicles EVs. Tax benefits are provided at the time of purchase. However, the extent of the exemption depends on the size of the batteries used in the vehicle. In the United States, insurance companies provide discounts on insurance policies to customers, and utility companies are offering low electricity rates. Also, few states offer credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment. Many European countries follow incentive-based programs for promoting EVs. Countries, like Germany and Austria, offer tax exemptions and reductions.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/automotive-relay-market

Further key findings from the report suggest:

The increasing vehicular safety norms across the globe and the growing adoption of electric passenger car vehicles amongst end-users are expected to drive the market.
Electric automotive parts have diversified over the past decade, leading to an increase in the number of relays used as switching devices as well as variation in the required features of each relay
Asia Pacific is a key revenue-generating region and captured a significant market share in 2016. The region exhibits a high growth potential, which may be attributed to high vehicle demand in this region.
The key players in the market include ABB Group, Denso Corporation, Eaton Corporation plc, Fujitsu Limited, Hella KGaA Hueck & Co. (HELLA).

Automotive Electronic Control Unit Market Worth $84.29 Billion By 2025

The global automotive electronic control unit market size is expected to reach USD 84.29 billion by 2025, growing at a 4.4% CAGR over the forecast period, according to a study conducted by Grand View Rese0arch, Inc. The increasing demand for hybrid and luxury vehicles, rising deployment of infotainment systems, and growing preference for ADAS and automated safety systems are fueling the demand for automotive electronic control units (ECUs). Additionally, a growing number of functionalities to control several electronic components in the vehicle such as, dashboard instruments, engine, telematics, and powertrain, has also resulted in significant growth in the average number of ECUs used per vehicle.

Moreover, the governments and regulatory bodies are mandating the installation of several safety systems in a vehicle, such as adaptive cruise control, adaptive front lighting, and anti-lock braking system, among others, to increase road safety. Recently, the AUTOSAR Alliance has been formed to standardize the approach of the designing and developing of layers between ECU hardware and application software. Additionally, in April 2016, the European New Car Assessment Programme (NCAP) was launched to reduce the risk of accidents by mandating the integration of lane-departure warning and anti-lock braking systems in vehicles during their production phase. This is anticipated to make the integration of hardware and software more scalable and flexible.

Furthermore, the automotive ECU market directly depends upon the automotive production across the globe. Thus, the increasing automotive production across emerging economies would fuel the demand for automotive ECUs over the forecast period. Several government initiatives to mandate the installation of advanced safety systems in vehicles, coupled with the growing preference of consumers for luxury and hybrid vehicles are the key factors boosting the research & development spending on automotive ECUs. For instance, In October 2017, NXP Semiconductors N.V. revealed NXP S32 platform, an all-new control and compute concept for electric, autonomous and connected cars.

The Asia Pacific region dominated the market in 2018, a trend that is expected to continue over the forecast period. This is attributed to the significant investments in the automotive industry in emerging countries, such as China, South Korea, Japan, and India. Additionally, the Chinese market is estimated to reach USD 36.65 billion by 2025, growing at a CAGR of 9.5% from 2019 to 2025. Continuous technological innovations to reduce the ECU count per vehicle is also expected to create substantial opportunities in the Asia Pacific region.

The North American market is projected to expand at a considerable CAGR over the forecast period owing to several regulations and declarations made by the governments in the region to positively influence the demand for electric vehicles. For instance, the Californian government has set up a target of reaching 1.5 million zero-emission vehicles, thus boosting the regional demand.

Some of the key players operating in the market are Altera (Intel Corporation), Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Hyundai Mobis, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo Inc., and ZF Friedrichshafen AG, among others. The global automotive ECU market is consolidated with the presence of a few players holding a majority share of the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the report suggest:

The ADAS & safety systems application segment is anticipated to dominate the automotive electronic control unit market owing to stringent government regulations and rising consumer awareness pertaining to safety features in vehicles. The segment is estimated to reach USD 27.6 billion by 2025.
The Internal Combustion Engine (ICE) vehicles segment is estimated to hold a majority share of the market owing to the increasing production of vehicles in emerging economies.
The 32-bit segment held the largest market share of 91.0% in 2018. This share is expected to decline over the forecast period due to the rising demand for 64-bit ECUs to integrate advanced electronic functions in the vehicle.
The passenger car segment held the largest market share of 86.9% in 2018. This share is estimated to increase over the forecast period owing to the growing consumer preference for luxury and hybrid vehicles with advanced electronic and safety systems.
The Asia Pacific regional market is estimated to account for 62.8% of the overall automotive ECU industry in 2018, owing to the increasing production of vehicles in emerging economies, such as China, India, South Korea, and so on.
Prominent market players include Autoliv, Inc., Delphi Technologies, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.