Automotive Simulation Market to Witness Robust Growth in Coming Years

Automotive simulation is the usage of simulation software for model testing and prototyping of an automobile to ensure the complete functionality of the vehicle. In recent years, automakers have been increasingly using this software for vehicle testing because they are working on several models based on varying parameters, which need model testing before they are validated and finalized. In the coming years, advanced simulation software and related technologies will be largely used for autonomous cars, smart driving truck platooning, and fleet management.

Automotive Simulation Market Outlook

The surging integration of simulation features in vehicles can be credited to the growing awareness about vehicle and passenger safety. Owing to this reason, the automotive simulation market will register considerable growth during 2020–2030. At present, simulation software developers and automotive original equipment manufacturers (OEMs) are actively focusing on research and development (R&D) activities to introduce advanced systems. To offer advanced solutions, OEMs are increasingly using the internet of things (IoT) technology in their safety systems.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/automotive-simulation-market/report-sample

Between the automotive simulation software and service, the demand for the latter is predicted to surge sharply in the upcoming years. This will be a result of the fact that many automakers all over the world are increasingly adopting consulting and design services in order to cater to the burgeoning requirement for process enhancement and product designs. This is subsequently fueling the advancement of the automotive simulation market across the world.

According to P&S Intelligence, the Asia-Pacific (APAC) region will adopt this software at a rapid pace over the next few years. This is owed to the rapid industrial developments and booming automobile production and sales in regional countries, such as India, Japan, and China. Moreover, the integration of advanced parking assistance systems, telematics, and ley-less entry systems by automakers in their vehicles will also amplify the usage of such software in the APAC countries.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/automotive-simulation-market

Thus, the surging awareness about vehicle and passenger safety and mounting sales of conventional vehicles and EVs will create a huge requirement for automotive simulation software and services in the foreseeable future.

Power Liftgate Market Set to Exhibit Tremendous Growth in Coming Years

A number of factors such as the burgeoning demand for autonomous vehicles and the surging adoption of electric vehicles (EVs) will support the power liftgate market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $3,478.3 million in 2020. A power liftgate is a backdoor mechanism through which the drivers open or close the liftgate/tailgate by clicking a key on the dashboard or a handheld remote. Nowadays, automotive power liftgates are available with anti-trap and height memory functions.

Power Liftgate Market Outlook

One of the major growth drivers for the market is the escalating demand for autonomous vehicles, owing to the growing need for ease of driving and soaring concerns being raised over passenger and vehicle safety. Due to the increasing safety concerns, automakers are focusing on technological advancements to enhance road safety and also developing intelligent transportation systems, such as self-driving features and advanced driver-assistance systems (ADAS). Thus, the increasing research in autonomous technology will augment the demand for power liftgate systems in the foreseeable future.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/power-liftgate-market/report-sample

Geographically, the Asia-Pacific (APAC) power liftgate market is expected to demonstrate the fastest growth during the forecast period. This can be ascribed to the mounting disposable income and rising living standards of the middle-class population and booming car sales in the region. Moreover, the escalating sales of EVs, owing to the enactment of stringent emission norms, burgeoning demand for autonomous vehicles, introduction of hands-free power liftgate technology, and soaring requirement for sensors and various electronic devices and components in the automobile industry will also support the market growth in APAC in the coming years.

Thus, the rising adoption of autonomous vehicles and increasing integration of advanced technologies in the automotive industry will fuel the market growth in the foreseeable future.

Driving Simulator Market to Witness Robust Growth in Coming Years

Factors such as the burgeoning demand for vehicles, soaring number of research and development (R&D) initiatives in the domain of advanced driver-assistance systems (ADAS), and surging demand for skilled drivers, owing to the high road accident rate, will facilitate the driver simulator market during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1,525.6 million in 2020. Moreover, the surging need for skilled commercial vehicle drivers for logistics services will support the market growth in the foreseeable future.

In recent years, the advent of autonomous vehicles has become a prominent market trend. Automakers across the world are heavily investing in the development of components, such as sensors and processors, that are installed in autonomous vehicles. Nowadays, automotive original equipment manufacturers (OEMs) are using driving simulators to test the performance and capabilities of these components and features, as driving simulator systems deliver excellent testing competence in realistic surroundings. The rapid advancements being made in the autonomous technology will drive the demand for driving simulators in the coming years.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/driving-simulator-market/report-sample

At present, the driving simulator market is moderately consolidated in nature due to the presence of few players, such as Cruden B.V., MTS System Corp., Ansible Motion Ltd., NVIDIA Corp., AutoSim AS, OKTAL SYDAC, CAE Inc., Mechanical Simulation Corp., Dallara Group Srl, and Moog Inc. Nowadays, these players are focusing on product launches to gain a competitive edge in the market. For instance, in July 2020, Anthony Best Dynamics Ltd. introduced a static driving simulator that delivers high levels of driver immersion.

Geographically, North America held the largest share in the driving simulator market in 2020, due to the surging number of vehicles on North American roads. Moreover, the rising implementation of stringent government regulations for road safety and traffic control facilitates the market growth in the region. Additionally, the increasing advancements being made in the driving simulator technology, to prevent potential failures that might lead to driver injuries, are also contributing to the market growth in the region.

Thus, the increasing adoption of autonomous vehicles and booming need for enhanced driving experience will facilitate the market growth in the forecast years.

Italian Electric Bus Charging Station Market to Reach $44.8 Million, by 2025

A fund of $4,371.6 million was allocated by the Italian government to convert the bus fleet in its major urban and semi-urban pockets to those running on new energy, such as electricity. The investment for the period between 2019 and 2033 has been provided considering the strong need to reduce the emission of greenhouse gases (GHG) and other toxic gases from vehicles, as they are the primary culprit in the quickly degrading air quality in the country. Additionally, the national government submitted a proposal on an integrated energy and climate plan to the European Union in 2018, which puts a special emphasis on low- or no-emission transport.

Italian Electric Bus Charging Station Market

With such policies and other financial incentives, the sale of electric buses will increase substantially in the country. Moreover, even the local administrations of Milan, Cagliari, Turin, and other cities in the nation have set targets for converting their public transport system to one which is driven by clean energy. With the rising sale of electric buses, the Italian electric bus charging station market is expected to witness a robust increase in its size, from $12.3 million in 2018, to $44.8 million by 2025, at a 20.3% CAGR between 2019 and 2025. Also known as the electric vehicle supply equipment (EVSE), such systems are required to charge the batteries of electric buses.

The electric bus charging stations being installed in the country provide power in the range of less-than 22, 22–50, 51–150, and more-than 150 kilowatts (kW). Till now, most stations in the country have offered 22–50 kW of power, because a lot of the buses in operation or being launched by automakers in the country are equipped with DC fast chargers. Quick charging is ideal for buses which have to travel long distance, as regular charging stoppages can be a nuisance to travelers.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/italy-electric-bus-charging-station-market/report-sample

Thus, with the increasing procurement of electric buses in Italy, driven by government subsidies and emission-reduction policies, the installation rate of EVSE will continue accelerating in the coming years.

What are Key Factors Driving the Growth of Autonomous Commercial Vehicle Market?

With the growth of the manufacturing and retail industries, an efficient means to transport goods from one place to another is becoming more important every year. Similarly, the burgeoning population, which the United Nations (UN) expects to touch 10.9 billion by 2100, is propelling the need for passenger transportation. With these factors, the number of large commercial vehicles, including trucks and buses, is rising. However, these vehicles are often part or cause of road accidents because they are slightly difficult to maneuver, and drivers aren't always able to see what is behind them.

Autonomous Commercial Vehicle Market Outlook

As a result, with the surging incidence of road accidents, which kill 1.35 million people each year, as per the World Health Organization (WHO), the need for making transportation safer is increasing. P&S Intelligence cites this factor while projecting an 8.2% CAGR for the autonomous commercial vehicle market during 2020 and 2030. It is now well known that most of the accidents are caused by humans themselves, and few due to machine/vehicle system error. As a result, in several countries, the adoption of functionalities that can aid the human driver or even completely replace them while driving has been mandated.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/autonomous-commercial-vehicle-market/report-sample

Another key factor that will aid the deployment of autonomous vehicles around the world is the emergence of autonomous truck start-ups, including TuSimple Inc., Kodiak Robotics Inc., Embark Trucks Inc., and Einride AB. Autonomous trucks already outnumber autonomous buses in sales, and with such companies continuing to receiving heavy funding, the trucking industry might be looking at a major technological shift in the coming years. Trucks often cover long distances, of over 500 km, on a single journey, which leads to driver fatigue. With ADAS and autonomous features, the risk of road crashes, as a result, would come down massively.

Hence, owing to the strong government support and a large trucking industry, the autonomous commercial vehicle market is currently dominated by North America. Trucks form the backbone of freight transportation in the continent, carrying goods worth $721 billion in 2017, compared to trains, which carried goods worth only $174 billion that year, as per the U.S. Bureau of Transportation Statistics. Along with North America, the sales of autonomous commercial vehicles are also picking up in Asia-Pacific (APAC), which is home to the most people and rapidly growing manufacturing and e-commerce industries.

Therefore, as commercial vehicles carry a substantial risk of road crashes, the integration of autonomous driving features in them is expected to make roads safer.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/autonomous-commercial-vehicle-market

Boom Predicted in Automotive Camera Module Market in Asia-Pacific in Future

The mushrooming sales of autonomous and luxury vehicles and the growing requirement for advanced safety systems and features are the main factors boosting the demand for automotive camera modules across the world. In addition to this, the enactment of the New Car Assessment Program (NCAP) is further fueling the sales of automotive camera modules. Due to the growing incidence of road accidents, the governments of many countries are implementing strict regulations that mandate the incorporation of safety features in automobiles. 

Automotive Camera Module Market Outlook

Apart from the aforementioned factors, the increasing enactment of supportive policies by various insurance companies and the ballooning utilization of complementary metal-oxide semiconductor (CMOS) sensors in vehicles are also contributing to the growing popularity of automotive camera modules. Moreover, this is encouraging the CMOS manufacturing companies to produce camera module sensors that are equipped with advanced features at highly affordable prices. Another important factor pushing up the demand for these sensors is the adoption of artificial intelligence in mirrorless cars. 

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/automotive-camera-module-market/report-sample

Due to the above-mentioned reasons, the sales of automotive camera modules are rising rapidly, which is, in turn, driving the advancement of the global automotive camera module market. According to the estimates of the market research firm, P&S Intelligence, the market would register huge expansion from 2020 to 2030. The biggest application areas of these camera modules are park assist (PA), lane departure warning (LDW), blind spot detection (BSD), autonomous emergency braking (AEB), and adaptive cruise control (ACC).

Out of these, the usage of the automotive camera modules is growing rapidly in the LDW applications and this trend is likely to continue in the upcoming years as well. Infrared, thermal, and digital are the most commonly used types of technologies in automotive camera modules. Out of these, the usage of the thermal automotive camera modules is predicted to rise explosively across the world over the next few years. 

This would be mainly because of the large-scale utilization of these devices in various night vision systems and their excellent functionality in adverse weather conditions such as rain and fog. Besides these, the sales of the infrared automotive camera modules will also rise quickly around the world in the forthcoming years, mainly because of the requirement for infrared automotive camera technology in autonomous vehicles. Globally, the demand for automotive camera modules will explode in North America in the future.

This would be a result of the mushrooming requirement for luxury automobiles and the rapid integration of advanced safety features and systems such as the advanced driver assistance systems (ADAS) in both commercial vehicles and passenger cars. After North America, the automotive camera module market will register the second-highest growth in Europe in the coming years, on account of the enactment of regulatory policies regarding the adoption of safety systems in vehicles in the region.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=automotive-camera-module-market

Hence, it can be said with full surety that the demand for automotive camera modules would surge all over the world in the forthcoming years, primarily because of the increasing popularity of autonomous and luxury vehicles and the growing installation of advanced safety systems and features in automobiles around the world. 

Automotive Tire Industry: What are the Key Growth Factors?

The increasing lifespan of automobiles is pushing up the demand for automotive tires across the world. In recent years, because of various technological innovations and advancements, the average lifespan of automobiles has increased significantly, that is, from 10.5 years to 12 years from 2010 to 2018. Moreover, with the increasing implementation of various government regulations and the rising competition between automobile manufacturers, the reliability and durability of vehicles would rise even more in the coming years.

Automotive Tire Market Outlook

The rising lifespan of vehicles is boosting the demand for automotive tires market, as the increasing mileages of vehicles significantly augment the chances of wear and tear of tires and thus, fuel the need for the frequent replacement of tires. Besides this, the rising propensity of customers for buying additional units of small crossover cars is also propelling the sales of automotive tires across the globe. Furthermore, private labeling is providing numerous growth opportunities to the tire manufacturing companies.

The flourishing automotive industry is another major factor fueling the sales of automotive tires all over the globe. This is subsequently driving the rapid advancement of the global automotive tire market. As a result, the valuation of the market is predicted to rise from 155.3 billion to 237.2 billion from 2018 to 2024. According to the estimates of P&S Intelligence, a market research firm based in India, the market would exhibit a CAGR of 7.7% between 2019 and 2024. 

Geographically, the automotive tire market will demonstrate the highest growth in Asia-Pacific (APAC) in the coming years. This is credited to the soaring automobile manufacturing, the increasing gross domestic product (GDP), and the soaring disposable income of the people residing in the developing countries such as India and China. The sales of automotive tires are also predicted to climb in North America in the future, primarily because of the huge investments being made by various manufacturers in the region. 

Pre-Purchase Inquiry at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=automotive-tire-market

Thus, it is quite clear that the demand for automotive tires would surge across the world in the upcoming years, mainly because of the rising average lifespan of automobiles and the soaring manufacturing of vehicles in various countries around the world.

IoT in Automotive Market its Future Outlook and Trends

Internet of Things (IoT) refers to an integrated system that comprises machines, people, computing devices, and other devices that allow data sharing among them, over a defined network. As the automotive sector is observing a significant technological shift, automakers across the world are integrating this technology in their vehicle models. With the surging customer preference for a convenient driving experience and seamless connectivity, automobile manufacturers are increasingly incorporating the IoT technology in their offerings. Additionally, the burgeoning need for capturing real-time information by vehicle operators and users is also augmenting the adoption of this technology worldwide.

IoT in Automotive Market

Besides, the increasing shift toward connected cars will also fuel the internet of things in automotive market during 2020–2030. Connected cars have internet access and a wireless local area network (LAN), which facilitates the cars to share their information with various devices inside and outside the vehicles. As these cars are mostly dependent on the usage of IoT, the rising demand for connected cars will amplify the need for IoT solutions in the coming years.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/iot-in-automotive-market/report-sample

According to P&S Intelligence, North America dominates the IoT in automotive market, with the automotive industry in the U.S. witnessing the large-scale use of IoT solutions. The leading position of the country can be primarily attributed to the constant technological innovations being made in the region, such as advancements in telematics for vehicles. Besides, the presence of leading automobile manufacturers, such as Ford Motor Co. and General Motors Co. and their increasing focusing on developing connected vehicle technologies are also accelerating the adoption of IoT solutions in the automotive industry in the region.

Thus, the soaring demand for connected cars and the rising integration of ADAS components in vehicles will augment the need for IoT solutions in the foreseeable future.

V2V Communication Market: What are the Key Growth Factors?

With the rising incidence of road accidents, many original equipment manufacturers (OEMs) in the automobile industry are increasingly focusing on incorporating vehicle-to-vehicle (V2V) communication solutions in their products. In addition to this, the governments of many countries are also enacting policies for encouraging the adoption of these solutions in automobiles. As per the National Highway Traffic Safety Administration (NHTSA), V2V communication messages have a range of over 300m and can detect obstacles obscured by weather, traffic, or terrain.

V2V Communication Market Outlook

These solutions enhance the functionality of the crash avoidance systems that use cameras and radars for detecting collision threats, thereby reducing the chances of traffic rule violations and road accidents. Additionally, the growing deployment of connected cars is also propelling the demand for this technology, thereby fueling the expansion of the global vehicle-to-vehicle (V2V) communication market. As a result, the value of the market is predicted to grow from $14.5 billion in 2019 to $77.1 billion by 2030.

APAC will also witness a surge in strategic alliances between communication technology and automobile manufacturing companies in the upcoming years. The demand for this technology will also rise rapidly in Latin America, Middle East, and Africa (LAMEA) in the forthcoming years. This will be because of the increasing adoption of telematics systems in passenger cars and the soaring concerns being raised by various fleet companies in the region over the safety of their drivers and vehicle diagnostics and tracking.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/vehicle-to-vehicle-communication-market

Hence, it can be said with confidence that the demand for the V2V communication technology will rise sharply in the coming years, mainly because of the growing deployment of connected cars and the surging requirement for improved vehicle safety across the world.

Why Is Demand for Electric Bike Highest in Asia-Pacific?

The increasing provision of government incentives and subsidies in several countries is causing a sharp rise in the sales of e-bikes across the world. Subsidies in the form of price reductions or discounts are encouraging people to buy these bikes. For example, the Swedish government provided a subsidy of as much as 25% (or up to nearly $1,119) per e-bike to all the citizens of the country for up to three years in 2018. 

E-Bike Market Outlook

Because of the provision of this subsidy, more than 100,000 e-bikes were sold in 2018, registering a huge growth from the recorded sales of 67,000 e-bikes in 2017. Apart from this, the increasing concerns being raised in many countries over the escalating pollution levels are also pushing up the sales of eco-friendly modes of transportation such as e-bikes. In various countries such as Netherlands, Belgium, Germany, and Japan, people are increasingly preferring low-speed electric vehicles over the high-speed ones.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/e-bike-market/report-sample

As a result, the demand for e-bikes is rising rapidly in these countries, especially for short-distance commuting. Moreover, the pedal-assist electric bikes are very beneficial for the health of geriatric people. Due to these reasons, the popularity of e-bikes is growing quickly all over the world. This is, in turn, driving the progress of the global e-bike market. The market valuation is predicted to surge from $14.4 billion in 2019 to over $25.9 billion by 2025.

Geographically, as per the findings of P&S Intelligence, a market research firm based in India, the Asia-Pacific (APAC) e-bike market was very lucrative in the years gone by. The presence of a strong bike commuting culture in India, China, Japan, and many other regional countries and the large-scale utilization of low-speed electric two-wheelers in Japan, Indonesia, and China for commuting are the key factors responsible for the surge of the industry in the region in the past.

The e-bike market will record huge growth in the APAC region in the future years as well, because of the rising implementation of favorable government initiatives and incentives in the regional countries and the increasing road congestion in various APAC countries. The market will exhibit rapid advancement in North America in the forthcoming years, mainly because of the ballooning utilization of these bikes for health and recreational purposes in the region.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=e-bike-market

Thus, it can be said without any hesitation that the sales of e-bikes would shoot-up all over the world in the upcoming years, mainly because of the rising requirement for environment-friendly modes of transportation and the increasing provision of financial incentives and subsidies on the prices of e-bikes in several countries around the world. 

Electric Vehicle Battery Market Set to Exhibit Tremendous Growth in Coming Years

Factors such as the advancements in lithium-ion (Li-ion) battery technology for electric vehicles (EV) and development of EV charging infrastructure will boost the electric vehicle battery market growth during the forecast period (2016–2022). Li-ion batteries are ideal for EVs and hybrid EVs (HEVs) as they offer high energy efficiency and long life to such vehicles. In addition, these batteries do not have any memory effects on these new-energy automobiles.

Electric Vehicle Battery Market Outlook

In recent years, the usage of lithium–nickel–manganese–cobalt oxide (Li-NMC) batteries has become a major trend in the electric vehicle battery market. The rising adoption of these batteries can be owed to the burgeoning demand for a higher driving range in passenger cars from a single charge. Li–NMC batteries offer a higher driving range due to their greater energy density. Moreover, the booming demand for lightweight vehicles is also augmenting the demand for these batteries worldwide.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/hybrid-and-electric-vehicle-battery-market/report-sample

Asia-Pacific (APAC) held the largest share in the hybrid and electric vehicle battery market during 2012–2015 (historical period), and it is expected to retain its dominance in the forecast years. This can be attributed to the strong presence of battery manufacturers in China, South Korea, and Japan. Owing to this factor, the cost of EV batteries has been lower in APAC as compared to other regions. Moreover, the abundant quantity of raw materials, such as lithium and cobalt, in APAC also propels battery production in this region.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/hybrid-and-electric-vehicle-battery-market

Thus, the increasing demand for Li–NMC batteries from EV manufacturers, owing to the high EV sales and high demand for lightweight vehicles, will facilitate the market growth in the coming years.

Boom Expected in Automotive Window and Sealing Systems Market in Future

The increasing adoption of passenger and commercial vehicles in India, Indonesia, and China, primarily on account of rapid urbanization, will amplify the need for automotive window and sealing systems in coming years. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), 2.7 million passenger vehicles and 568,559 commercial vehicles were purchased in India during the financial year 2020–2021. Moreover, the surging disposable income of people in developing as well as developed countries will also boost the production of such systems, owing to the enhancement in living standards. 

Automotive Window and Sealing Systems Market

Moreover, the rising preference for lightweight materials in the automobile industry will support the automotive window and sealing systems market to advance at a 7.6% CAGR during 2018–2025. The market was valued at $21.7 billion in 2017 and it is projected to exceed $38.7 billion by 2025. As lightweight vehicles have higher fuel efficiency, automotive original equipment manufacturers (OEMs) are increasingly using lightweight sealants. Besides, advancements in sealing technology have also resulted in the production of high-performance solutions for automotive, aerospace, and industrial sealing applications.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/automotive-window-and-sealing-systems-market/report-sample

According to P&S Intelligence, Asia-Pacific (APAC) will dominate the automotive window and sealing systems market in the coming years, due to the surging automobile production in developing economies of the region. As China is the largest automobile manufacturing hub, it is the largest consumer of such systems. Moreover, the region is also expected to exhibit the fastest growth in the foreseeable future, on account of the rising gross domestic product (GDP) and surging disposable income of people in developing countries such as India and China. 

The aforementioned components of automotive window and sealing systems are made up of ethylene propylene diene monomer (EPDM), thermoplastic vulcanizates (TPVs), and thermoplastic elastomers (TPEs). Over the years, the usage of EPDM has surpassed the consumption of TPEs and TPVs due to its ease of use in weather-stripping applications and high utilization in passenger cars. EPDM, a synthetic rubber, is a polymer that is both elastic and viscous. It is composed of propylene and ethylene, which are derived from natural gas and oil.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/automotive-window-and-sealing-systems-market

Thus, the escalating number of passenger and commercial vehicles in emerging economies and the rising shift toward lightweight materials in the automobile sector will augment the sales of automotive window and sealing systems in the coming years.  

Boom Expected in Two-Wheeler Logistics Market in Future

With the rising consumer requirement for faster product delivery, the demand for two-wheeler logistics solutions is growing rapidly across the world. Moreover, customer buying behavior and expectations are changing rapidly, as they are increasingly expecting free and fast shipping along with competitive product prices. As this delivery schedule challenges the traditionally used logistics, businesses are increasingly focusing on adopting faster, more-efficient, and cheaper logistics alternatives, such as two-wheeler logistics solutions.

Two-Wheeler Logistics Market

Additionally, many service providers are focusing on speeding up their delivery processes, which is also boosting the demand for two-wheeler logistics solutions. Besides this, the expansion of the e-commerce industry and the rapid digitization in the logistics industry are also driving the popularity of the two-wheeler logistics solutions across the world. According to the United Nations Conference on Trade and Development (UNCTAD), the revenue generated from global e-commerce sales grew by 8% from 2017 and reached $25.6 trillion in 2018.

Due to the aforementioned factors, the demand for two-wheeler logistics services is rising sharply, which is, in turn, driving the growth of the global two-wheeler logistics market. Grocery delivery, food delivery, parcel delivery, and e-commerce delivery are the major services provided by two-wheeler logistics solutions. Out of these, the adoption of these solutions is predicted to rise at the fastest pace in e-commerce delivery applications across the world in the coming years.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/two-wheeler-logistics-market/report-sample

One of the major trends currently being witnessed in the two-wheeler logistics market is the emergence of several two-wheeler logistics solutions providing start-ups, on account of the surging investments being made by various venture capitalists in the region. For example, Mara Labs Inc. (Locus) announced in May 2019 that it has received an investment of $22 million, during its Series B funding round, from Tiger Global Management LLC and Falcon Edge Capital LP.

Hence, it can be safely said that the demand for two-wheeler logistics solutions will shoot up in the forthcoming years, primarily because of soaring consumer demand for faster product delivery and the expansion of the e-commerce industry across the world.

EV Industry Outlook For India

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.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/india-electric-vehicle-market/report-sample

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.

India Electric Vehicle Market - P&S Intelligence

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.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/india-electric-vehicle-market

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.

Hence, it is safe to say that the demand for electric vehicles will soar in India in the coming years, primarily because of the rising requirement for eco-friendly modes of road transportation and the increasing enactment of favorable government policies and regulations.