Why are Autonomous Car Sales Soaring in North America?

The increasing implementation of legislations and policies aimed at promoting the deployment of autonomous cars by various state and central governments is fueling the demand for autonomous cars in North America. As per reports, the number of legislations and policies being passed regarding autonomous car deployment is growing rapidly in North America every year. In the U.S., 15 states passed 18 bills related to autonomous vehicles in 2018 and as many as 29 states have enacted various autonomous vehicle-related laws.

These initiatives are massively boosting the deployment of autonomous cars in North America. Apart from this factor, the growing popularity of connected cars and the rapid technological advancements and innovations being made in connected car technology are also propelling the demand for autonomous cars in North America. Because of their unique features such as roadside assistance, smartphone connectivity with the vehicle, real-time traffic monitoring, and traffic and collision warnings, the popularity of connected cars is soaring in the region.

Moreover, the rapid digitization in connected cars is also fueling the demand for autonomous cars, which is, in turn, driving the progress of the North American autonomous car market. As a result, the value of the market is predicted to rise to $52.3 billion by 2030. Furthermore, the market is predicted to progress at a CAGR of 17.1% between 2023 and 2030. Based on vehicle autonomy, the market is divided into fully autonomous and semi-autonomous cars.

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Between these, the semi-autonomous car category recorded higher growth in the market during the last few years. This was because of the huge sales of level 1 semi-autonomous cars in the region in the past years, on account of the implementation of favorable government regulations regarding the adoption of safety features in vehicles. For example, the National Highway Traffic Safety Administration (NHTSA) has made the usage of electronic stability control (ESC) mandatory in all passenger automobiles manufactured after 2012.

When vehicle type is taken into consideration, the North American autonomous car market is classified into hybrid electric vehicle (HEV), battery electric vehicle (BEV), and internal combustion engine (ICE). Out of these, the BEV category will demonstrate the fastest growth in the market in the forthcoming years, as per the estimates of the market research company, P&S Intelligence. This will be because the adoption of fully autonomous technology is easier in BEVs in comparison to other vehicles. 

Across the globe, the North American autonomous car market recorded the highest growth in the U.S. during the last few years. This was because of the inclination of a large number of customers toward level-2 autonomy or more-advanced cars in the country. In addition to this, the existence of several original equipment manufacturers (OEMs) and the subsequent launch of new models equipped with advanced automation features and technologies are further bolstering the market advancement in this country.

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Hence, it can be said with full surety that the demand for autonomous cars will surge sharply in North America in the coming years, primarily because of the growing enactment of favorable government policies and regulations in the region. 

Automotive Wire Harness Market to Expand at a Healthy Growth Rate in the Coming Years

The mushrooming deployment of electric vehicles (EVs) is one of the major factors responsible for the growing demand for automotive wire harnesses across the world. With increasing air pollution levels, the popularity of environment-friendly modes of transportation such as electric vehicles is surging sharply. This is subsequently augmenting the sales of electric vehicles, especially battery electric vehicles (BEVs) in the U.S., Germany, Japan, and China, which is, in turn, pushing up the demand for automotive wire harnesses. 

Electric vehicles comprise a large number of wire harnesses as they are equipped with a greater number of electronic components and electrical units than the conventionally used ICE-powered vehicles. Besides electricity transmission, these wires are also used for transmitting high volumes of data. Apart from the growing deployment of electric vehicles, the adoption of advanced features in fossil fuel-powered vehicles, particularly passenger cars, is also positively impacting the demand for automotive wire harnesses across the world. 

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Advanced driver assistance systems (ADAS) such as speed sensors, light detection and ranging (LiDAR), and radar sensors, connectivity features, autonomous driving systems, and several types of smart features and systems are increasingly being integrated in ICE-powered vehicles, on account of their ability to considerably improve passenger experience and enhance vehicular safety. This is massively pushing up the requirement for wire harnessing in vehicles. Due to these factors, the global automotive wire harness market is recording huge growth.

Globally, the sales of automotive wire harnesses will explode in Asia-Pacific (APAC) in the coming years. This will be because of the soaring manufacturing of electric vehicles (EVs) and the expanding customer base of ICE-powered automobiles in the region. Moreover, the growing requirement for commercial and passenger vehicles in the regional countries such as South Korea, Japan, India, and China is augmenting the automobile manufacturing volume, which is, in turn, propelling the advancement of the market in the region. 

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Hence, it can be said with full confidence that the demand for automotive wire harnesses will shoot up all over the world in the forthcoming years, mainly because of the soaring deployment of electric vehicles in many countries. 

China Electric Scooters and Motorcycles Market Set for Prosperity in Future

In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates.

P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the Chinese electric scooters and motorcycles market from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsinghua University, deaths in China due to high concentrations of particulate matter 2.5 (PM2.5) could touch 1.3 million by 2030, increasing by a massive 40% from 2013!

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Other reasons for the rising demand for Li-ion batteries in the Chinese electric scooters and motorcycles market are their higher energy density, which enables a longer driving range. Since one of the major factors that make many opt out of buying EVs is their short driving range, improved Li-ion batteries are expected to put an end to their hesitations. In addition, the prices of these batteries have reduced significantly in recent years, thus making EVs cost-effective for the masses. Other advantages of Li-ion batteries are their smaller size, ability to be charged up to 2,000 times compared to 400 cycles for SLA batteries, longer self-discharge periods, and faster charging ability.

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Hence, with government efforts to address the problem of air pollution, which is directly linked to urbanization, as well as the advancements in the battery technology, the adoption of electric two-wheelers will keep rising in China.

Demand for Electric Scooters Set to Shoot-Up in Coming Years in Europe

 A number of growth factors, such as the proliferation of electric two-wheelers in sharing services, rise in the traffic concerns in the region, focus on reducing greenhouse gas emissions, and implementation of stringent emission regulations, are expected to propel the European electric scooters and motorcycles market at a CAGR of 27.6% during the forecast period (2020–2025). According to P&S Intelligence, the market generated $284.2 million in 2019,which is projected to reach $758.5 million by 2025.

The European electric scooters and motorcycles market growth is driven by the proliferation of electric scooters in sharing fleets in major European countries. This is due to the presence of several sharing service providers, with a large number of electric scooters in their fleets. For instance, France had around 2,560 electric scooters and Italy had about 1,225 scooters in their sharing fleets in 2019, which are expected to grow in the coming years. Thus, the increasing deployment of electric scooters for sharing services plays a pivotal role in the market growth.

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According to P&S Intelligence, France recorded the highest sales of electric scooters and motorcycles in the recent past, due to the surging focus on reducing the emission of toxic gases. Whereas, Span will exhibit the fastest European electric scooters and motorcycles market advance in the foreseeable future. This will be due to the burgeoning demand for EVs, which is attracting electric two-wheeler manufacturers and mobility firms to set up manufacturing plants and enter into the scooter/motorcycle sharing business in the nation, respectively.

Thus, the increasing shift toward energy-efficient vehicles and the growing prevalence of shared e-mobility services will accelerate the sales of  EVs in Europe. 

OEMs Analysis

1. Manufacturers Product Offerings and Their Specifications
2. Market Share Analysis of Key Players
3. Competitive Analysis of Key Players
4. Strategic Developments in the market
5. Company Profiling

India Electric Vehicle Battery Swapping Market Set for Lucrative Growth in Future

The need for electric vehicles (EV) in India is dire on account of the air that is becoming more suffocating and disease-causing every year, owing to the escalating pollution levels. Realizing this grave problem, the government has launched the FAME India scheme, under which it is not only offering purchase subsidies for EVs but also bearing a large chunk of the research and development (R&D) cost. Thanks to such efforts, the sale of e-rickshaws has burgeoned in the country, especially in tier I and II cities.

However, the adoption of electric two-wheelers, cars, buses, and trucks is yet to pick up pace. This is because of the range anxiety associated with them, meaning that these automobiles do not offer a sufficient driving range even after a full charge. The solution to this conundrum, especially for commercial vehicles, such as buses and trucks and the scooters, motorcycles, and cars deployed for shared mobility services, is the installation of charging stations in ample numbers. However, the vast disparity in the availability of charging stations is hampering EV adoption in the country.

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As per P&S Intelligence, this inadequate availability of charging stations will be a key factor for the Indian electric vehicle battery swapping market growth in the years to come. This is because merely replacing the discharged battery with a charged one is faster and less hassle-prone than keeping an EV plugged into a charging station. Since most of the few charging stations that are available are slow-charging variants, they can take up to 8 hours to completely charge an EV battery. This has been a problem for those who have to operate their vehicle throughout the day and for long distances, such as intercity and intracity buses.

Seeing the potential of EV battery swapping services in the country, electric utility companies (DISCOM), battery manufacturers, and charging service providers are entering into partnerships and collaborations. For instance, in November 2019, Ola Electric Mobility Pvt. Ltd., BSES Rajdhani Power Ltd. (BRPL), and BSES Rajdhani Power Ltd. (BRPL) came together to set up EV battery swapping stations in Delhi. Similarly, SUN Mobility Pvt. Ltd., an EV technology provider based in Bengaluru, has entered into at least 10 partnerships with shared mobility companies and EV manufacturers to install battery swapping stations in the city.

In the same vein, Baharat Sanchar Nigam Limited (BSNL) began a collaboration with EVI Technologies Pvt. Ltd. (EVIT) in January 2020 for EV charging and battery swapping stations. As part of the 10-year deal, EVIT is setting up EV charging stations at 5,000 of BSNL’s locations, bearing the entire installation, operational, and maintenance costs. In return, BSNL is providing the required space and electricity connections for the EV charging and battery swapping stations.

Such EV battery swapping stations offer pay-per-use and subscription-based services, of which the subscription-based model is expected to become popular in the Indian electric vehicle battery swapping marketmore rapidly in the years to come. This would be because in the long run, a subscription comes out to be cheaper than paying every time the battery is swapped. With the burgeoning adoption of EVs in public transportation services, the subscription model will allow vehicle operators to cut down on their expenses, which will, in turn, help in making shared electric mobility cost-effective for commuters.

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Hence, with governments offering their support for EV adoption and entering in partnerships to make the charging process easier, the battery swapping concept will become popular in the country.

Air Ambulance Services Market to Witness Robust Expansion Throughout the Forecast Period 2030

There are certain diseases or health issues that require immediate attention, especially those that hit vital organs such as the brain, heart, and lungs. Some such issues are acute stroke, sudden cardiac arrest, kidney or liver failure, and external or internal trauma that leads to hypovolemic shock (loss of more than 20% of the blood inside the body). In these cases, rushing the person to an emergency care setting is vital, as sometimes, it just takes minutes for the disorder or disease to lead to death.

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Sometimes the issue is so severe that transporting the patient via roads, which are becoming increasingly congested, especially in developing countries, can cause more harm than benefit. As per P&S Intelligence, this will be a strong factor to take the air ambulance services market to $15.9 billion in 2030 from $8.9 billion in 2019, at a 5.4% CAGR between 2020 and 2030. This is because air transport is the fastest mode of transport: first, aircraft are fast on their own, and second, there is not much traffic in the sky.

Presently, North America is the largest market for air ambulance services, as the region is home to numerous private and public agencies that operate air ambulances. For instance, the Sikorsky MH-60 Jayhawk helicopters stationed at the U.S. Coast Guard Air Station in Kodiak, Alaska, regularly answer distress calls of ships fishing in the freezing and stormy waters of the Bering Sea for emergency medical evacuation. Additionally, most people in the continent have a high disposable income, which is why they can pay the exorbitant prices charged by private healthcare facilities for airlifting patients.

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Thus, as the unmet need for quick transportation of patients to hospitals is realized, the number of entities offering air ambulance services will rise.

Increasing Enactment of Favorable Government Laws Fueling Electric Truck Sales in U.S.

With the rise in the air pollution levels, both the federal and the state governments in the U.S. are implementing policies aimed at encouraging the adoption of environment-friendly vehicles, especially for commercial transportation. Moreover, the governments are also enacting strict emission norms for reducing nitrous oxide and carbon dioxide emissions in the country. This is positively impacting the sales of eco-friendly vehicles such as electric trucks all over the country.

Since the withdrawal of the U.S. from the Paris Agreement, as many as 23 states in the country and the District Of Colombia have been focusing on aiming for a 26−28% reduction in toxic emissions from vehicles by 2025 from the levels reported in 2005. Furthermore, in California, which already witnesses huge sales of electric trucks every year, vouchers and funds are being provided for augmenting the sales of electric trucks.

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According to several reports, funds up to $20 million were provided for electric truck purchase in the state till 2020. Besides these factors, the lower maintenance and operating costs of electric trucks than the conventionally used vehicles are also fueling their demand in the country. Unlike the traditional diesel trucks, electric trucks don't require the regular replacement of fuel filters, oils, spark plugs, and various other components. This allows manufacturers to save heavily in overall parts and components costs.

Moreover, these vehicles need less maintenance than the traditionally used diesel trucks, which causes them to have a significantly longer vehicle uptime. This massively benefits the electric truck fleet owners. Due to these factors, the popularity of electric trucks is growing rapidly in the U.S. This is, in turn, driving the expansion of the U.S. electric truck market. The U.S. electric truck market value is predicted to grow from $211.5 million in 2019 to $15,084.3 million by 2030.

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Hence, it is safe to say that the demand for electric trucks will rise enormously in the U.S. in the coming years, primarily because of the growing requirement for environment-friendly modes of transportation and the increasing enactment of favorable government policies regarding electric truck deployment in the country. 

U.A.E E-Commerce Automotive Aftermarket Outlook and Opportunities in Growing Regions

Due to the increasing public awareness about the greater convenience associated with the online purchase of automotive parts and components from aftermarket companies, aftermarket organizations operating in the automotive industry are rapidly turning toward digital platforms for selling their products. Factors such as the availability of a diverse range of items, discounts, offers, and smooth transactions and the timely delivery of products according to the consumers’ preferences are responsible for the growing popularity of the online shopping of aftermarket parts.

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Furthermore, many retailers operating in the U.A.E. are starting to sell automotive parts and components online for providing better product accessibility to their customers. As digital platforms allow customers to do exhaustive product research and comparison and help them better understand the various specifications of the products in comparison to the conventional brick and mortal stores, consumers in the U.A.E. are nowadays preferring these portals for buying automotive components over the traditional outlets.

Apart from the aforementioned factors, the growing popularity of do-it-yourself (DIY) methods is also positively impacting the popularity of the online shopping of vehicular components and parts in the country. Automobile enthusiasts and regular citizens are increasingly preferring servicing their vehicles themselves over taking them to the service centers or repair stores. This is pushing up the sales of automotive parts via e-commerce platforms. This is subsequently driving the progress of the U.A.E. e-commerce automotive aftermarket.

The type segment of the market is classified into product and service. Between the two, the service category is projected to record the higher CAGR during the forecast years. This can be ascribed to the surging internet penetration in the U.A.E. This is allowing several app-based service providers in the country to provide advanced e-commerce services. Whereas, the product category dominates the market owing to the rise of the DIY culture in vehicle customization, along with the surging vehicle sales and increasing number of road accidents in the country.

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Hence, it can be said with surety that the popularity of the online sales of automotive components will surge in the U.A.E. in the coming years, primarily because of the increasing penetration of the internet and the growing consumer preference for online shopping over buying from retail outlets in the country.

Automotive Cybersecurity Market Assessment Covering Growth Factors and Upcoming Trends

With the increasing number of vehicles, traffic jams, parking woes, and road accidents are becoming more common by the day. As most such issues are owed to human error, the need for automobile features that can assist human drivers has risen manifold in the past. The result is connected vehicles, which are able to not only keep people inside stay in touch with the outside world but also take a certain load off the shoulders of the human driver. Such vehicles offer internet connectivity for passengers’ smartphones, tablets, and laptops; navigation and breakdown assistance, aftermarket and insurance support, and many other conveniences.

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The one biggest downside of such a technology is perhaps its susceptibility to cyberattacks. Being a product of computer hardware and software, connected cars can be easily hacked into and have their data or themselves intercepted and stolen. Therefore, with the increasing number of connected vehicles on the roads and their perpetual vulnerability to cybercrime, the automotive cybersecurity market will reach $7,280.2 million by 2030 from $1,152.7 million in 2019, at an 18.5% CAGR between 2020 and 2030, says P&S Intelligence. Additionally, it is not just the vehicle’s software that can be hacked, but also the various networks with which the automobile communicates.

With the numerous experiments and pilot projects being carried out on autonomous vehicles, this automotive cybersecurity situation has become more complicated. For the success of autonomous vehicles, the usage of artificial intelligence (AI) for eye tracking, speech recognition, virtual assistance, driver monitoring, natural language interfaces, and gesture recognition is crucial. Any interference in the AI software can have grave consequences for those inside and outside, which is why the spotlight is presently shining bright on the issue of securing the automotive software.

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Due to all these factors, particularly the increasing adoption of connected cars by individuals and fleet owners, North America has been the largest automotive cybersecurity market till now. The U.S. is witnessing a large number of autonomous driving experiments and developments in the connected vehicle technology, which are being complemented by the advancements in automotive cybersecurity solutions. The country has already deployed telematics solutions for reducing the rate of road crashes, which has boosted the demand for automotive cybersecurity solutions as well.

Thus, as the demand for vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and in-vehicle connectivity rises, so will the importance of securing the automotive software from cybercriminals.

Top Leaders of Connected Car Market and Business Strategies

Growing concerns for safety and security, rapid urbanization, accelerating demand for improved driving experience, and rising adoption of internet of things (IoT) in the automobile sector are projected to drive the growth of the connected car market, at a CAGR of 24.1%, during the forecast period (2020–2025). At this rate, the revenue size of the market will increase from $72,499.2 million in 2019 to $198,459.7 million by 2025.

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The face of mobility will be transformed by the integration of IoT-enabled technologies in the automotive sector. The connected car market growth is also driven by the fact that original equipment manufacturers (OEMs) are incorporating IoT-based technologies to achieve cutting-edge results pertaining to the connected cars. Moreover, IoT encompasses a range of advanced connectivity solutions and infotainment services for drivers. With the fast-paced incorporation and commercialization of IoT and associated technologies, these services have become a quintessential part of the automobile sector.

During the forecast period, the Asia-Pacific connected car market is projected to showcase the fastest growth, due to the rapid integration of connected devices in passenger cars and increase in digital services such as software updates and cybersecurity. Furthermore, expected surge in strategic alliances between automotive and non-automotive companies in the forecast period will accelerate the market growth. These alliances are projected to enhance the communication infrastructure and meet the government norms for vehicle data security.

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Thus, the growing concerns for safety and security and spurring demand for enhanced driving features will boost the market growth in future.

Global Impact of COVID on India Electric Vehicle Market 2021

With the surge in air pollution levels because of the large-scale usage of oil and gas-powered vehicles, the demand for electric vehicles is growing sharply in India. Moreover, the government is providing various subsidies on the purchase of different types of electric vehicles such as electric three-wheelers, buses, passenger cars, and electric two-wheelers in the country. Additionally, the government is implementing several policies for promoting the usage of electric vehicles in the country.

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For instance, the Department of Heavy Industries launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme in March 2015. Under this scheme, the government made an investment of $116.0 million for promoting the deployment of electric and hybrid vehicles in the country. The FAME 1 scheme was initially approved for a time period of two years and it was later extended to two more years. This scheme was later revised into FAME II.

Apart from the aforementioned factors, the government is also providing tax rebates and various financial incentives for augmenting the usage of electric vehicles in the country. This is fueling the expansion of the market for Indian electric vehicle. Commercial vehicles, passenger cars, three-wheelers, and two-wheelers are the major types of electric vehicles sold in India. Amongst these, the sales of electric three-wheelers were the highest in the country in the past years, on account of their extensive usage for last-mile connectivity.

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Moreover, with the advancements in battery technology, e-rickshaws and other EVs are gaining a longer driving range. Presently, most of them have sealed lead–acid (SLA) batteries, as they are cost-effective. But with the increasing awareness about the harms of improperly disposing of these batteries, lithium-ion (Li-ion) batteries are becoming rapidly popular. In addition to being safer, Li-ion batteries also have a higher energy density, which means that they can accumulate more charge per given volume, therefore offer a longer driving range.

How are Forklifts Helping E-Commerce Companies Attain High Product Sales?

Rising significantly from 2017, the share of the e-commerce sector in the total global retail sales reached 14% in 2018. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for.

This factor is expected to propel the global forklift market, which garnered $33,878.7 million revenue in 2019, to $42,519.4 million by 2030, at a 2.8% CAGR between 2020 and 2030. This is because, to meet the rising number of online shopping orders, e-commerce and logistics firms are focusing on increasing their operational efficiency by deploying such vehicles. In addition, with the shelf height increasing and aisle width decreasing at warehouses, new forklifts, especially designed for such constraints, are witnessing rising sales.

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Like companies across various other sectors, forklift manufacturers are also subject to the ill-effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021.

During 2014–2019, class 5 forklift trucks generated the highest revenue in the forklift industry, owing to their high popularity in emerging economies, such as China and India. They are preferred for heavy-lift applications, especially in places where the risk of tire punctures is high, as such vehicles have pneumatic tires. Their payload capacity is between 3,000 and 55,000 pounds (1,360 and 25,000 kg), which makes them suitable for heavy lifting.

Presently, Asia-Pacific (APAC) is the most lucrative market for forklift, due to the rapid growth in the automotive and retail industries in India, South Korea, Japan, and China. In addition, regional governments are implementing strict mandates for security and safety at the workplace, which is leading to the quick deployment of such trucks. In the years to come, the fastest rise in the adoption of forklift vehicles would be seen in the Latina America, Middle East & Africa (LAMEA) region, on account of the swift industrialization and popularity of the warehousing model.

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The most prominent players in the global forklift market include KION Group AG, Toyota Industries Corp., Hyster-Yale Materials Handling Inc., Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Crown Equipment Corp., Hangcha Group Co. Ltd., Anhui Forklift Truck Group Corp., Doosan Corp., and Komatsu Ltd.

Electric Two-Wheelers Market Assessment Covering Growth Factors and Upcoming Trends

In the context of transportation, one phrase that is on everyone’s minds these days is ‘electric vehicle (EV)’. Such automobiles are being considered the future of traveling, as they are specifically designed to reduce the air pollution levels drastically. Therefore, to increase their penetration among the masses, governments across the globe are offering purchase subsidies, tax rebates, and financial incentives. For instance, the Indian government has made an investment of INR 10,000 crore under the FAME India II scheme to promote EVs.

Thus, P&S Intelligence expects the electric two-wheelers market value to rise to $10,529.7 million by 2025 from $5,913.9 million in 2019, at a high 14.4% CAGR between 2020 and 2025. Unlike several models of hybrid cars and buses, only pure-electric two-wheelers are available, which makes them, on average, more environment-friendly than other vehicles. Moreover, they are cost-effective, which is why government EV promotion schemes generally support more scooters and motorcycles than cars, trucks, and buses. For instance, the FAME India II scheme is offering support for one million electric two-wheelers compared to just 35,000 cars and 7090 buses.

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Due to all these reasons, electric scooters and motorcycles are rapidly finding their way into the fleet of e-commerce and last-mile delivery and shared mobility companies. Since such firms require a large number of automobiles, the purchase cost and additional expenses associated with ICE variants create a large dent in their finances. Thus, to expand into new cities and towns, while maintaining a fine balance between revenue and expenditure, such companies are swiftly replacing their conventional two-wheelers with electric variants.

Presently, Asia-Pacific (APAC) is the largest electric scooter and motorcycle market due to the dominance of China on the worldwide EV sector. According to the Global EV Outlook 2020 report of the International Energy Agency (IEA), 25% of all electric two-wheelers around the world are operational in China. This is a result of the rapid urbanization and people’s rising disposable income, as well as government bans on conventional scooters and motorcycles. With other regional countries also promoting electric two-wheelers strongly, their sales will keep picking up in APAC.

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Hence, with the rising environmental concerns and cost-effectiveness of electric scooters and motorcycles, their adoption will rise in the coming years.

Two-Wheeler Sharing Mobility Services in India | Insights on Strategies of Key Players

In India, the number of vehicles on roads, including auto-rickshaws, buses, private cars, motorcycles, and scooters is incredibly high, which can be ascribed to the increased population in the country. This surging number of vehicles on roads is the primary cause for increased congestion on roads, particularly in urban cities, such as Bengaluru, Delhi/NCR, Chennai, and Mumbai. Commuters have to face increased travel-time due to this. Owing to this, the demand for two-wheeler sharing mobility services in India has been growing at a swift pace.

Two-wheelers can go through traffic in a relatively easy and timely manner, which makes an ideal option in places with high road traffic. Moreover, two-wheeler sharing services are highly convenient for short distance and are much more cost-effective than other shared mobility services such as carsharing. Daily commuters can easily get to their destination in shorter time by making use of these services. Owing to all these factors, the Indian two-wheeler sharing market is predicted to witness substantial growth in the coming years.

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The division is further predicted to account for the largest share of the market during the forecast period, owing to the expansion of the bike taxi sharing and rental classifications. These services have the capability to solve the first and last-mile connectivity issues in the countries and hence are being adopted extensively. Within the division, the bike taxi category held the major share of the market in in 2019 and is further expected to grow at the fastest pace during the forecast period as well. 

When the geographical scenario is taken into consideration, the Indian two-wheeler sharing market was dominated by the southern region in 2019 and the region is likely to account for the largest share of the market during the forecast period as well. Most of the companies in the domain are present in cities including Hyderabad, Bengaluru, and Chennai. The eastern region in the country is expected to register the fastest growth during the forecast period.

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Hence, the market is growing because of the surging road congestion and need for cheap and convenient means of travelling in India.

Why Growth Asia-Pacific Electric Two-Wheelers Market is Reflective of Increasing Regional Urbanization?

The increasing pollution caused because of the usage of the fuel and gas-powered vehicles is a major factor responsible for the growing popularity of various eco-friendly modes of transportation such as electric scooters and motorcycles in the Asia-Pacific (APAC) region. In addition to this, the rapid urbanization, especially in the developing nations such as China and India, is pushing up the demand for highly convenient, affordable, and environment-friendly two-wheelers such as electric motorcycles and scooters.

In addition to being eco-friendly, these two-wheelers also play a major role in solving the increasing road congestion problems in the major cities of the APAC nations. Moreover, the governments of many APAC countries are rapidly enacting various policies and taking initiatives for promoting the usage of these vehicles, mainly to curtail the deteriorating air quality levels. The growing public awareness of the pollution caused by the fossil fuel-powered vehicles is also contributing toward the surging sales of electric motorcycles and scooters in APAC.

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Hence, with the ballooning adoption of these vehicles, the Asia-Pacific (APAC) electric scooters and motorcycles market will demonstrate substantial growth in the forthcoming years. Based on battery type, the market is categorized into lithium-ion (Li-ion) and sealed lead acid (SLA) batteries. Between the two, the SLA batteries registered the highest market growth, in terms of volume, in the past. However, in the future years, the lithium-ion category will exhibit faster growth in the market, on account of the longer lifespans and lighter weights of the Li-ion batteries than the SLA ones.

There are mainly two types of electric two-wheelers available in APAC— those powered by batteries and those having the plug-in feature. Of these, the sales of the electric scooters and motorcycles possessing the plug-in feature was found to be higher in the past and this trend will also continue in the upcoming years. As a result, the plug-in category, under the technology segment of the APAC electric scooters and motorcycles market, will demonstrate higher growth in the future. This is because of greater convenience provided by this technology and distinct lack of proper battery swapping facilities in the region.

Globally, China registered the highest growth, in terms of volume, in the APAC electric two-wheelers market in the years gone by, according to the findings of the market research company, P&S Intelligence. Furthermore, the country is predicted to continue dominating the market in the future years as well, owing to the rising implementation of various government policies and regulations for promoting the use of electric motorcycles and scooters such as ban on the purchase of gasoline-powered motorcycles in some cities and the provision of subsidies on the sales of electric scooters and motorcycles in the country.

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Therefore, with the increasing pollution levels in many APAC cities, rising road congestion, growing customer requirement of lighter and eco-friendly modes of transportation, and the implementation of favorable government policies, the sales of electric scooters and motorcycles will surge all around the APAC region in the coming years.

Autonomous Commercial Vehicles the Future of Logistics and Public Transportation?

As more people are becoming financially sound, the number of automobiles around the world is growing. This is leading to a lot of traffic congestion, which is made worse by large automobiles, such as buses and trucks. Another sad outcome of traffic growth is road accidents, which, according to the World Health Organization (WHO), lead to more than 1.3 million human deaths each year. This factor has awakened people’s consciousness, and they are now beginning to demand more safety features in vehicles.

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P&S Intelligence credits this and the fact that most road accidents are a result of human error while forecasting that the autonomous commercial vehicle market will grow at a CARG of 8.2% between 2020 and 2030. A key development that is enabling the rollout of autonomous vehicles is the integration of connectivity features in automobiles. Connected vehicles feature roadside assistance, smartphone connectivity within themselves, automobile diagnostics, traffic and collision warnings, and real-time traffic monitoring. Many of these vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity features are a prerequisite for autonomous driving; thus, the evolution of connected vehicles is considered the first step in the direction of driverless vehicles.

Of all applications, including logistics, construction, and public transportation, level 1–3 autonomous commercial vehicles are currently used the most for logistics. This is why between buses and trucks, autonomous trucks have witnessed higher sales till now. The expansion in the manufacturing, retail, and e-commerce industries is leading to the rising demand for freight transportation services, which is driving the expansion of logistics fleets. In the coming years though, autonomous buses will witness the faster rise in sales owing to their integration in public transportation fleets.

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Presently, the North American autonomous commercial vehicle market accounts for the highest sales of such automobiles, on account of the early integration of self-driving technologies here than elsewhere in the world. Moreover, many companies, including General Motors Co., Waymo LLC, Tesla Inc., and Ford Motor Co., are involved in autonomous commercial vehicle designing, development, and testing projects in the continent. In the coming years, Asia-Pacific (APAC) will likely witness the fastest increase in the adoption of autonomous commercial vehicles due to its vast automotive sector and technological advancements in regional countries.

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Hence, it can be said with full surety that the market will demonstrate huge expansion all over the world in the coming years, primarily because of the rising deployment of fully autonomous vehicles in the logistics industry and the growing demand for advanced vehicular safety systems and features in several countries.

LAMEA Set to Witness Explosive Last Mile Delivery Demand in Near Future

The last mile delivery market is expected to witness a CAGR of 20.3% during the forecast period (2020–2030) due to the surging use of omnichannel retailing and increasing penetration of the internet in developing countries, such as India, Indonesia, and Thailand. Moreover, the booming e-commerce industry due to the soaring trust among online customers, improving website experience, and rising comfort level for online shoppers will facilitate the market growth. Owing to these factors, the market value is projected to rise from$15.7 billion in 2019 to $117.9 billion by 2030.

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One of the key factors fueling the growth of the last mile delivery market is the increasing investments in last mile delivery startups by various venture capitalists, which is helping the former expand their business. For instance, in October 2018, Deliv, a U.S.-based company, received funding of $40 million. Similarly, in 2019, a Hong Kong-based on-demand logistics company, Lalamove, raised $300-million funding in its series D round to expand its operations in the Asia-Pacific (APAC) region.

The Latin American, Middle Eastern, and African (LAMEA) market will register the fastest growth during the forecast period due to the rapid economic development in countries like Brazil and Mexico. The logistics and e-commerce industry in these countries is expected to observe a considerable improvement in the forecast years, which will, in turn, facilitate the market growth. Brazil is expected to register the highest adoption of last mile delivery services in this region owing to the existence of a highly adaptive customer base and constant technological innovations.

Thus, the surging investments in logistics startups and increasing integration of the real-time tracking technology in this industry will fuel the market growth in the foreseeable future.

Why Demand for Automatic Self-Piercing Rivets Depends on Lightweight Cars?

Self-piercing rivets (SPR) offer better fastening solutions in instances where spot welding is not practical. It is the process of forming a mechanical interlock between multiple pieces of similar or different materials. The interlocking is done by forcing a rivet through the top sheet through the piercing and then fortifying the top one with the one on the bottom, without piercing it. The process of applying automatic SPRs incorporates four steps— clamping, piercing, flaring, and compression. It is used to interlock pre-painted metals (white goods), zinc-coated steel (heating, ventilation, and air conditioning [HVAC] industry, construction sector, and automobile sector), and aluminum (signs).

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The demand for such fasteners is expected to grow from 8.1 billion units in 2015 to 45.0 billion units by 2022, with the automatic self-piercing rivets market growing at a CAGR of 26.2% during 2016–2022. This projected increase would be the result of the growing popularity of lightweight premium vehicles. Luxury marques, such as Porsche, Daimler AG, and Audi AG, are developing aluminum-intensive vehicles by making use of automatic SPRs. Other automobile giants, such as BMW, Ford, Land Rover, and Renault, are also focused on lightweight hatchbacks and sedans. All these manufacturers are using automatic SPRs in the trunk lids, hoods, boot lids, doors, and window regulators.

According to P&S Intelligence, the European automatic self-piercing rivets market generated the maximum demand for these fasteners in the recent past. Among the European countries, Germany demanded the maximum number of such rivets, as it is the home of major luxury carmakers. As for the Asia-Pacific region, China consumed the maximum number of automatic rivets. In North America, the U.S. showcased the higher demand for automatic SPRs. Other countries that are witnessing an increase in the requirement for these fasteners are Brazil, Iran, and South Africa.

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Thus, the increasing demand for lightweight vehicles will lead to the rising usage of automatic self-piercing rivets. A shift toward the adoption of environment-friendly and energy-conserving vehicles will pave the way for the increasing usage of automatic SPRs around the globe in the foreseeable future.

Electric Truck Market in US to Boom in Coming Years

The U.S. electric truck market growth is driven by low operational and maintenance costs of electric trucks, declining battery costs, and favorable government policies. These factors will accelerate the market at 51.6% CAGR during the forecast period (2020–2030). The market generated $211.5 million in 2019 and it is projected to reach $15,084.3 million by 2030. Currently, it is exhibiting the trend of deployment of such vehicles in the logistics sector, on account of the growing e-commerce industry. Several logistics companies are electrifying their fleet to optimize their operations.

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The country is replacing conventional diesel trucks with electric trucks, as the latter have lesser operational and maintenance costs in comparison to the former. The electric trucks help in saving a large amount in overall component cost, as these do not require the replacement of fuel filters, spark plugs, and oils. Owing to these advantages, fleet owners are focusing on electrifying their fleets. Moreover, these trucks incorporate regenerative braking systems to attain substantial reductions in the wear and tear of breaks.

Additionally, the U.S. electric truck market growth is also facilitated by declining price of battery. The battery pack is a key component of electric trucks and reducing cost of this component will eventually curtail the overall price of these vehicles. The cost of the battery pack depends on the battery chemistry used in electrochemical cells, and this chemistry determines several performance parameters of batteries that include battery lifetime, charging time, and energy-to-weight ratio. Moreover, advancements in electric vehicle (EV) battery technology will reduce the price of batteries in the future.

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According to P&S Intelligence, California will adopt the highest number of electric trucks in the U.S., in the foreseeable future. This will be ascribed to the extensive support from the state government in the form of financial incentives and policy formulation to promote the deployment of these EVs in the state. For example, in June 2020, the California Air Resources Board (CARB) formulated the Advanced Clean Truck initiative that aspires to convert all new trucks sold by 2045 into its electric variants.

Thus, the formulation of supportive government policies and the improved features of electric trucks will promote these EVs in the U.S. in the upcoming years.

Demand For Automotive Parts and Components in the Aftermarket

A number of factors, such as the increasing number of do-it-yourself (DIY) customers, growing customer convenience and awareness, surging vehicle sales, and rising number of road accidents, are projected to boost the growth of the U.A.E. e-commerce automotive aftermarket at a CAGR of 14.8% in the forecast period (2020–2025). At this growth rate, the market size is expected to reach$634.4 million by 2025from $318.2 million in 2020. Moreover, the government initiatives to drive the e-commerce sector and rise in the digitization rate in the country propel the market growth.

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The primary factor improving the U.A.E. e-commerce automotive aftermarket growth prospects is the rising customer convenience and awareness. The availability of several products, easy transaction, timely delivery as per consumers’ need, and extensive offers and discounts on e-commerce portals result in a shift from buying parts from traditional stores to online parts purchasing. Thus, several sellers are now trading their automotive parts online, for better accessibility. Also, the portals offer wide-ranging product details to allow customers to understand the specifications and compare products of a similar kind.

Moreover, the increasing number of DIY customers is driving the growth of the U.A.E. e-commerce automotive aftermarket. Due to the rise of the DIY culture in the country, auto enthusiasts and customers have been upgrading their vehicles by themselves. This propels the demand for automotive parts and components in the aftermarket, which are widely being purchased from online portals. Apart from the enthusiasts, maintenance and service centers and mechanics are also buying the products through thee-commerce channel, which, in, turn, drives the market growth.

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Thus, the rising customer convenience and awareness regarding online parts purchasing and the expanding DIY culture in the U.A.E. are expected to propel the growth of the market during the forecast period. 

Why will Automotive Lithium-Ion Battery Market Register Rapid Advancement in Europe During 2019—2024?

One of the major factors fuelling the rise in the requirement of automotive lithium-ion batteries is the increasing adoption of electric vehicles (EVs) all over the world. As per the International Energy Agency (IEA), the number of electric cars in the world increased from 2.0 million in 2017 to more than 5.1 million in 2018. Moreover, the utilization of electric vehicles is expected to further surge in the coming years, on account of the increasing pollution levels and massive fluctuations in oil prices across the world. 

The increasing number of incentives and financial benefits being provided on the purchase of electric vehicles by the governments of many countries in order to promote the adoption of these vehicles is another important factor pushing the demand for automotive lithium-ion batteries across the globe. Due to these factors, the revenue generated from the worldwide sales of automotive lithium-ion batteries is expected to increase from $24.2 billion to more than $74.3 billion from 2018 to 2024. The global automotive lithium-ion battery market is predicted to advance at a CAGR of 15.9% during the forecast period (2019—2024).

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Lithium-ion batteries are used in electric passenger cars, two-wheelers, and commercial vehicles. Out of these, the passenger cars recorded the highest usage of lithium-ion batteries in the past, mainly because of the huge push given by the governments of the largest automobile selling nations in the world such as the U.S. and China for the manufacturing of electric passenger cars. Moreover, the soaring number of financial incentives being provided to the users and passenger car manufacturing companies by the governments of several countries is further boosting the sales of lithium-ion batteries all over the world.

One of the prominent trends presently being witnessed in the automotive lithium-ion battery market is the rising incorporation of lithium nickel manganese cobalt oxide (NMC) batteries in electric vehicles across the globe. This is primarily attributed to the ability of the NMC batteries to provide high energy density and the rising requirement of vehicles having high ranges throughout the world. In addition to this, the declining prices of the NMC batteries, their lesser space requirements, and lighter weights are further boosting their sales across the world.

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Geographically, Europe is expected to register the fastest growth in the usage of automotive lithium-ion batteries during the forecast period, on account of the increasing sales of electric vehicles and the presence of various associations in the region such as Association of European Automotive Industrial Battery Manufacturers, that are encouraging the usage of lithium-ion batteries in automobiles. Additionally, the region is home to major automobile manufacturers such as Volkswagen Group and BMW AG that are making huge investments in advanced technologies for EVs, which will further create huge demand for lithium-ion batteries in the region in future.

Hence, it can be said with full surety that the sales of automotive lithium-ion batteries will increase significantly all over the world over the coming years, due to the rising adoption of electric vehicles in several countries and the presence of favorable government policies and regulations for the usage of electric vehicles in many countries all around the world. 

Factors that Impact on the India Electric Rickshaw Battery Market in Upcoming Years!

Different transportation systems all across the globe are still mostly dependent on fossil fuels, however, with the surging concerns regarding the environment, the focus is predicted to shift towards electric vehicles eventually. In India, the transportation system consumes about 70% of petroleum products, and the fact that the country is relied on other nations for the procurement of fuel has been taking a toll on gross domestic product. Owing to this, the Indian government is increasingly focusing towards encouraging the adoption of electric vehicles in the country. Moreover, since the pollution levels in urban cities is off the charts, the need for electrifying the transportation system is pressing. 

Due to all these factors, the adoption of electric rickshaws in the country is growing, which, in turn, is resulting in the rising need for electric rickshaw batteries. According to a P&S Intelligence report, in 2019, the Indian electric rickshaw battery market generated a revenue of $385.0 million and accounted for the sale of 4,290.0 thousand units. The market is further projected to reach a value of $722.3 million in 2024, advancing at a 13.2% CAGR during the forecast period (2020–2024). 

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Two types electric rickshaws that operate in the country are load carrier and passenger carrier. The demand for batteries was higher for passenger carrier vehicles in the past, which can be ascribed to the larger usage of these vehicles by commuters. As electric rickshaws have low travel cost, people prefer these over other transportation modes for short distances. Other than this, the demand for batteries for load carrier vehicles is also expected to rise in the near future. This is because of the growing e-commerce industry in the country and low total ownership cost of these vehicles.  

Batteries utilized in electric rickshaws have battery capacity of either <101 Ah or >101 Ah. Between these two, the demand for batteries with capacity less than 101 Ah was higher in the past, which is attributed to their low cost. This being said, the need for electric rickshaws which have the capacity to travel for longer distance, without needing to be charged frequently, is growing in India, which is why the demand for batteries with capacity more than 101 Ah is predicted to increase in the coming years. Batteries are required for replacement of older batteries and by original equipment manufacturers. 

The higher demand for batteries in the years to come is projected to be created for replacement purposes. This is because an electric rickshaw goes through three or four battery replacement cycles throughout its lifetime. Within the country. Delhi has been the largest Indian electric rickshaw battery market up till 2018. However, the demand for batteries is expected to rise significantly in Uttar Pradesh in the coming years, owing to the rising usage of electric rickshaws by daily commuters in small towns in the state. 

Hence, the demand for electric rickshaws batteries in India is growing due to the growing adoption of electric rickshaws and surging air pollution levels.