Transport Industry Overview

The cold chain market consists of sales of cold chain and related services by entities (organizations, sole traders, and partnerships) that provides cold chain storage services. These services are used for the management and transportation of temperature-sensitive products through refrigeration, thermal packaging, and other methods. This plays a crucial role in temperature control for the perishable goods and assures the quality and health of the perishable goods to the final consumer across the distribution chain. The main types of cold chains are refrigerated warehousing and refrigerated transport. Refrigerated warehousing or cold storage is a place where temperature-controlled goods are cooled or stored to prevent it from decaying or not adhering to laws and regulations that apply to that item. Refrigerated transport or reefer freight is the vehicle transporting of products using a built-in refrigeration system that helps maintain a desired temperature throughout the transportation process. The various temperatures used in cold chain include frozen and chilled. Cold chain storage used in different sectors such as pharmaceutical, healthcare, food & beverages, chemical, others. The global cold chain market is expected to grow from $212.24 billion in 2020 to $239.67 billion in 2021 at a compound annual growth rate (CAGR) of 12.93%. The growth is mainly due to the increased demand for cold chain logistics from the processed food sector and the pharmaceutical sector. The cold chain market is expected to reach $344.51 billion in 2025 at a CAGR of 9.49%. Growing consumer demand for perishable foods contributed to the growth of the cold chain market in the historic period. The demand for perishable foods such as dairy products, fruits, vegetables, and meat is growing with the increasing urban population and changes in eating habits of the populace. Consumers are shifting towards to the purchase of perishable goods that have a long time until expiration owing to the nature of perishability. Developing markets in the Asia Pacific and Latin America are observing high demand for perishable food products. According to National Centre for Cold-chain Development, India has added about a million tons of cold storage capacity over the last three years and reached a total of 36.7 million tons in 2019. This can be connected to urbanization, changing tastes and decisions, and the rising disposable income of consumers in these countries. Thus, growing consumer demand for perishable foods supported the cold chain market. The high operational costs for cold chain could act as a restraint for the market in the forecast period. The operating costs include energy costs for electricity, real-estate costs, labor costs and others. For instance, according to Global Cement and Concrete Association (GCCA) Cold Chain Index 2020, labor accounted for the largest share of expenses, at 46% in the North American refrigerated warehouse market. The high operational costs could hamper R&D expenditure by companies, thus impacting the cold chain market in the forecast period. Major companies operating in the cold chain market are continuously investing in automation solutions to survive in the competitive business environment. For instance, in January 2020, Kloosterboer, a Netherlands-based company engaged in providing innovative and sustainable solutions in the supply chain for temperature-controlled food products, invested in an automated and extremely sustainable reefer container terminal in its place in the port of Vlissingen. It was connected with 1020-reefer plugs and under the name of Kloosterboer container terminal Vlissingen. The container terminal was expected to be operational by mid-2020. The expectation is to process 250,000 TEU annually and was the first container terminal to use automatic cranes. In another instance, in 2020, US based cold chain provider FreezPak Logistics announced its plan to build a 140,000sq ft facility in New Jersey which will be equipped with an automated storage and retrieval system, using 12 robots to store and retrieve products. The new facility aims at speeding up the distribution process and cutting lead times for customers. In November 2019, US based temperature-controlled food distribution services provider, Americold realty trust, acquired Nova Cold Logistics for CAD $337 million (USD 278 million). The acquisition will help in extending the company position in Canada. Canada is a developing market with fragmented control of cold storage facilities. Nova Cold Logistics is a Canadian-based company that offers modern cold storage facilities and superior customer care. Major players in the cold chain market are Agro Merchants Group LLC, Americold Logistics, Lineage Logistics LLC, Nichirei Corporation, Burris Logistics Inc., Kloosterboer Group B.V., Henningsen Cold Storage, VersaCold Logistics, Cold Chain Technologies Inc., Hanson Logistics, Trenton Cold Storage, United States Cold Storage, Tippmann Group, Swire Cold Storage Ltd, and Nova Cold Logistics. North America was the largest region in the cold chain market in 2020. Asia Pacific region is projected to record fastest growth over the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cold chain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global cold chain market is segmented - 1) By Type: Refrigerated Warehousing, Refrigerated Transport 2) By Temperature Type: Frozen, Chilled 3) By Industry Vertical: Pharmaceutical, Healthcare, Food & Beverages, Chemical, Others

Boat Building Market Definition

The boat building market consists of sales of new boats and related services by entities (organizations, sole traders and partnerships) that operate boatyards. Boatyards are fixed facilities with drydocks and fabrication equipment capable of building boats, including dinghies, hovercrafts, motorboats, rowboats, yachts, sailboats, and inflatable rubber boats. This industry comprises establishments primarily engaged in building boats. Boats are defined as watercraft not built-in shipyards and typically of the type suitable or intended for personal use, commercial use, and military use. This industry includes establishments that manufacture heavy-duty inflatable rubber or inflatable plastic boats.

The autonomous marine vehicles market consists of sales of autonomous marine vehicles. Autonomous marine vehicles are robotic equipment that travel below or on the surface of water, without requiring input from a human operator. The autonomous marine vehicles market is segmented into autonomous surface vehicles (which travel on the surface of the water) and autonomous underwater vehicles (which travel below the surface of the water). Autonomous marine vehicles are used for various purposes such as recording oceanographic data, imaging, navigation, communication, collision avoidance and propulsion. The autonomous marine vehicles market covered in this report is segmented by type into surface vehicle, underwater vehicle. The autonomous marine vehicles market is also segmented by application into military & defense, archeological, exploration, oil & gas, environmental protection and monitoring, search and salvage operations, oceanography and by technology into imaging, navigation, communication, collision avoidance, propulsion. The global autonomous marine vehicles market is expected to grow from $3.18 billion in 2020 to $3.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The autonomous marine vehicles market is expected to reach $5.1 billion in 2025 at a CAGR of 10.4%. The autonomous marine vehicles market is being driven by a rise in hydrographic, oceanographic and environmental surveys conducted globally. A hydrographic survey measures, describes and maps features that can be found underwater. The main purpose of conducting these surveys is to produce navigational charts essential for safe transit of vessels. An oceanographic survey helps in the accurate understanding of marine and freshwater environments, for port and harbor development, wastewater and industrial outfalls, power plant intakes/outfalls and offshore disposals. An autonomous surface vehicle (ASV) provides an efficient method of undertaking a hydrographic survey, as it saves both cost and time. It is also flexible and convenient which allows for faster deployment for a number of survey requirements, from event surveys to large coastal surveys. For instance, according to the world’s first autonomous hydrographic survey, by 4D Ocean after the channel coastal observatory (CCO) commissioned it to carry out a hydrographic survey of the seabed that is offshore of Hurst Spit, Western Solent, with the help of a SeaRobotics ASV 2.5. The vulnerability of ships to cyber threats due to automation is a major restraint for the autonomous marine vehicles market. This is mainly because cyberspace and its associated infrastructure are vulnerable to a versatile range of risks coming from cyber threats and attacks. The use of automation which negates the need for human intervention on ships and in ports increases the chances of security breaches. A cyber-attack can misguide an autonomous ship to move in a different direction or move to a separate port, which can lead to misplacement and delay of goods and services. For example, container ship and supply vessel operator A.P. Moller-Maersk became a victim of a cyber-attack that resulted in a loss of around $250–300 million for the company. According to a survey by law firm Clyde & Co and the Institute of Marine Engineering, Science & Technology (IMarEST), over two-third of marine industry executives surveyed from across the world fear that unmanned/autonomous ships present a greater cyber-security risk than traditional ships. Maritime drone swarming for better surveillance and investigation capabilities is an emerging trend in the autonomous marine vehicles market. Maritime drone swarms are a large group of underwater vehicles moving together for a particular purpose. The drone swarm has a wide range of capabilities in defence applications, since it is capable of performing surveillance and investigation tasks followed by defensive or offensive countermeasures. As the swarm works collectively to navigate through the underwater environment, it senses a wider area in a quick time by making use of a number of sensing techniques to build a comprehensive map of the environment. For instance, the European Union (EU) is currently funding a research project called Ocean2020 which will facilitate a combination of drones and unmanned submarines into swarms or fleet units. In another example, the US Navy's Undersea Warfare Center approved a grant of $78,000 for Aquabotix’s SwarmDiver technology to support the US Navy and allied vessels. The International Maritime Organization (IMO) has regulations related to ballast water management in marine vehicles. Ballast water is defined as water that is pumped inside a marine vehicle in order to maintain safe operating conditions and operations. Regulation D-3 by the IMO requires that ballast water management systems which use active substances shall be approved in accordance with the specifications defined by the IMO. As per the International Convention for the Control and Management of Ships’ Ballast Water and Sediments, active substances are those which include a virus or a fungus, having a general or specific action on or against harmful aquatic organisms or pathogens. Hence, regulations such as these would keep a check on manufacturers of ballast water management systems as well as the companies in the autonomous marine vehicles market. Major players in the autonomous marine vehicles market are Asv Global/ASV Unmanned Marine Systems, Atlas Elektronik, Teledyne Technologies, ECA Group, Sea Robotics Inc. The regions covered in the autonomous marine vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the autonomous marine vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global autonomous marine vehicles market is segmented - 1) By Type: Surface Vehicle, Underwater Vehicle 2) By Application: Military & Defense, Archeological, Exploration, Oil & Gas, Environmental Protection And Monitoring , Search And Salvage Operations , Oceanography 3) By Technology: Imaging, Navigation, Communication, Collision Avoidance, Propulsion

The electric bikes market consists of sales of electric bikes and related services for transportation purposes. The electric bike has an integrated electric motor, pedals and rechargeable batteries for forwarding propulsion. Rechargeable batteries vary according to the voltage, total charge capacity (amp hours), weight. Depending upon motor and rechargeable battery used in E-bikes its prices vary accordingly. The global electric bikes market covered in this report is segmented by product type into pedel assist/pedelecs, power on demand, pedal assist with power on demand, by battery type into Li-ion, lead acid, others and by motor type into hub motor, mid motor, others. The global electric bikes market is expected grow from $18.46 billion in 2020 to $19.91 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global electric bikes market is expected to reach $26.3 billion in 2025 at a CAGR of 7%. Government subsidy on the sale of electric bikes (E-bike) is acting as a major growth driver for the E-bike market. An E-bike has an integrated electric motor and rechargeable batteries that reduces pollution by eliminating carbon dioxide emissions in the environment. Therefore, various government and non-governmental agencies are augmenting the sales of electric bikes by providing incentives and subsidies on the purchase of E-bikes. For instance, in 2015 the Indian government announced an incentive scheme named Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the incentive scheme of FAME II, in 2019, government provides a subsidy of up to INR 10,000 for the purchase of electric scooters/electric bikes buyer. Thus, government subsidies and incentives are increasing the growth of the E-bikes market. High purchase cost and maintenance cost of electric bikes (E-bikes) are expected to limit the growth of the E-bikes market. E-bike has an integrated electric motor and rechargeable batteries for forwarding propulsion. E-bikes are expensive because of their battery and motor installed in it. According to eBikesHQ article, E-bikes range in cost between $600 to over $8000 which is not an affordable option for a lot of people in developing countries. Moreover, E-bikes average battery replacement cost is between $350- $450. This increases the overall operating cost of E-bikes making it hard to be maintained by users. Therefore, high purchase costs and maintaining the cost of E-bikes are expected to limit the growth of the E-bikes market. The companies operating in the electric bike market have started implementing artificial intelligence to increase the efficiency of electric bikes. Artificial intelligence is being used to provide features such as swipe start, geotagging, real-time battery checking and antitheft features. Following the trend, in 2019, Revolt launched its RV 400 electric bike in India equipped with AI capabilities. The bike when charged for 4 hours can travel up to a distance of 156km.It allows connectivity with android and IOS phones to enable the user to check the range, total riding hours and real-time diagnostics. Thus, the major players in the industry are investing towards the trend of implementing AI in e-bikes. Major players in the global electric bikes market are Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Trek Bikes, Mahindra & Mahindra Ltd., BionX International Corporation., Jiangsu Xinri E-Vehicle Co., Ltd., Robert Bosch GmbH, Derby Cycle Holding GmbH, and Panasonic Corp. The regions covered in the global electric bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the global electric bikes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric bikes market is segmented - 1) By Product Type: Pedel Assist/Pedelecs, Power on Demand, Pedal Assist with Power on Demand 2) By Battery Type: Li-ion, Lead Acid, Others 3) By Motor Type: Hub Motor, Mid Motor, Others

The hydrogen powered transport market consists of the sales of hydrogen powered transport services and related goods by entities (organizations, sole traders and partnerships) that are engaged in the manufacturing of electric vehicles. Only goods and services traded between entities or sold to end consumers are included. The hydrogen powered transport market covered in the report is segmented by fuel cell technology type into proton exchange membrane fuel cells, phosphoric acid fuel cells, others; by vehicle type into cars, buses, trucks, others; by end use into passenger vehicle, commercial vehicle. The global hydrogen powered transport market is expected to grow from $2.09 billion in 2020 to $3.27 billion in 2021 at a compound annual growth rate (CAGR) of 56.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.04 billion in 2025 at a CAGR of 58%. An increase in government initiatives for the development of hydrogen fuel cell infrastructure is contributing to the growth of the hydrogen-powered transport market. Several approaches have been disposed of by different governments to cater to environmental conditions. For instance, the federation of California in the U.S. committed endows for the development of 100 hydrogen refueling stations to meet its goal of 1.5 million zero-emission vehicles by 2025. Another proposal has California working with other states to correspond regulations and building codes to ease the location and construction of refueling stations for hydrogen and electric vehicles. The goal of this collective effort is to put 3.3 million ZEVs on the highways in those states by 2025 with the goals of diminishing greenhouse gas emissions, improving air quality and public health, while enhancing energy diversity, saving consumer's money, and promoting economic growth, which in turn will propel the revenues generated for the hydrogen-powered transport market. The high cost of hydrogen fuel cell vehicles is expected to hamper the growth of the hydrogen-powered transport market. The costs of producing and shipping hydrogen are relatively high compared to gasoline. According to the California Fuel Cell Partnership, in 2019, fuel cell cars themselves are more expensive to purchase new, and the hydrogen fuel costs work out to roughly $5.60 a gallon. Also, according to California Hydrogen Researchers, in 2020, the configuration required for producing, transporting, and dispensing the hydrogen gas alone will cost about $10 billion. Thus, the high cost associated with hydrogen fuel cell vehicles is restricting the hydrogen-powered transport market growth during the forecast period. The launch of a prototype of a hydrogen fuel cell forklift is gaining popularity in the hydrogen-powered transport market. Major players operating in the industry are continuously focusing on introducing innovations and technologies to better serve the needs of consumers. For instance, in October 2020, Hyundai Mobis has developed a prototype hydrogen fuel cell forklift with Hyundai Motor Company and Hyundai Construction Equipment. The hydrogen fuel cell forklift established can lift up to five tons and can be managed continuously for five hours when its hydrogen fuel cell is fully charged. The forklift has been adapted with a hydro fuel cell system mass-produced by Hyundai Motor Group. In the process of doing so, Hyundai Mobis independently developed a fuel cell power pack optimized for hydrogen fuel cell forklifts. In December 2018, OneH2, a USA- based hydrogen fuel company announced the acquisition of Hyster-Yale Materials Handling, Inc.’s wholly-owned subsidiary, Nuvera Fuel Cells, LLC for an undisclosed amount. The acquisition is expected to contribute substantially all of Nuvera Fuel Cells, LLC’s PowerTap® hydrogen generator assets, excluding related intellectual property to OneH2. Nuvera Fuel Cells, LLC is a US-based company that offers hydrogen generation appliances, proton exchange membrane fuel cell stacks, hydrogen generation, and dispensing products. North America was the largest region in the hydrogen powered transport market in 2020. The regions covered in the global apparel market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the global hydrogen powered transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The major players covered in the global hydrogen powered transport market are Honda, Toyota, Hyundai, BMW, General Motors, Foton, Mercedes-Benz, Volkswagen, SAIC, FeiChi Bus, Dongfeng, Volvo, Ballard Power Systems, Audi, MAN, Groupe Renault, Mazda Motor Corporation, Hydrogenics, Kia Motor Corporation, Tata Motors Limited, Nikola Corporation. The global hydrogen powered transport market is segmented - 1) By Fuel Cell Technology Type: Proton Exchange Membrane Fuel Cells, Phosphoric Acid Fuel Cells, Others 2) By Vehicle Type: Cars, Buses, Trucks, Others 3) By End Use: Passenger Vehicle, Commercial Vehicle

The automotive airbag silicone market consists of sales of automotive airbag silicone and related services by entities (organizations, sole traders and partnerships that manufacture automotive airbag silicone. Automotive airbags contain silicone which offers various properties such as thermal resistance, slip, and protection. If there is a car crash then airbags create heat and passengers in the car risk getting burnt, therefore applying a thin layer of silicone to the airbag will help protect the fabric from heat and prevent burn to passengers. Only goods and services traded between entities or sold to end consumers are included. The automotive airbag silicone market covered in the report is segmented by airbag type into cut-and-sewn seam-sealed (CSSS), one-piece-woven (OPW); by airbag position into front, knee, curtain/side, others; by vehicle type into passenger cars, LCV, HCV. The global automotive airbag silicone market is expected to grow from $191.20 million in 2020 to $235.89 million in 2021 at a compound annual growth rate (CAGR) of 23.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $517.09 million in 2025 at a CAGR of 21.7%. Airbags are made mandatory in front seats for vehicles and this factor is expected to drive the automotive airbag silicone market during the forecast period. Airbags are complex devices that work with a vehicles’ metal body and seatbelts to protect occupants and therefore it is made mandatory for vehicles to have airbags at least in front seats as occupant and driver seating in first seats are at high risk of injury when there is any collision or accident. For instance, in India, vehicles manufactured on and after 1st Day of April 2021, in the case of new models, and 1st day of June 2021, in the case of existing models, shall be fitted with airbag for the person occupying the front seat, other than the driver. Thus, making airbags compulsory for front seats in vehicles is driving the market. The increasing development of active safety systems is expected to limit the growth of the automotive airbag silicone market. The active safety system in a car works to prevent an accident. These systems are always active while the car is in driving mode and works continuously to keep the occupants safe from getting into an accident. The active safety systems include automatic emergency braking (AEB), forward collision warning (FCW), active cruise control (ACC), lane departure warning (LDW), lane-keeping assist (LKA), blind-spot monitoring, rear cross-traffic alert (RCTA). According to Consumer Reports, in 2019, the survey covered around 72,000 vehicles, 81% of the car owners are satisfied with automatic emergency braking, 54% of the car owners said the active safety system helped them avoid a crash. The increasing development of active safety systems has a negative impact on the automotive airbag silicone market. Innovative airbags design with silicone rubber fabric coatings and seam sealants is an emerging trend in the automotive airbag silicone market. Silicone rubber fabric coatings and seam sealants help airbag design integrity to enhance occupant impact protection and safety. For instance, Dow’s SILASTIC™ silicone engineered elastomers are proven, effective solutions for advanced airbag design. This innovative product meets industry and regulatory requirements for use on cut-and-sewn, seam-sealed (CSSS) airbags and one-piece-woven (OPW) airbags. It can be included in side curtain airbags, front-center airbags, knee-bolster airbags, frontal airbags (driver and passenger) and side airbags. The major players covered in the global automotive airbags silicone market are Dow, Elkem Silicones, Shin-Etsu Chemical, Wacker Chemie AG, TORAY Industries, Toyobo, Zodiac, Porcher Industries. The countries covered in the global automotive airbags silicone market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. Asia Pacific was the largest region in the automotive airbag silicone market in 2020. The regions covered in the global automotive airbag silicone market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global automotive airbags silicone market is segmented - 1) By Airbag Type: Cut-and-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW) 2) By Airbag Position: Front, Knee, Curtain/Side, Others 3) By Vehicle Type: Passenger Cars, LCV, HCV

The motor vehicle electrical and electronic equipment market consists of sales of motor vehicle electrical and electronic equipment and related services used for motor vehicles including cars, buses, motorcycles, off-road vehicles, light trucks, and regular trucks. The electrical and electronic components of motor vehicles include battery, starter and alternator, fans, electric cooling, windshield washer pump, and windshield wiper systems. It also includes equipment that are electrically operated systems built into vehicles such as fuel injection systems, airbags, and advanced driver assistance systems. The global motor vehicle electrical and electronic equipment market is expected to grow from $45.6 billion in 2020 to $47.88 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $69.07 billion in 2025 at a CAGR of 10%. The motor vehicle electrical and electronic equipment market covered in this report is segmented by product type into lighting equipment, automatic voltage and voltage-current regulators, insulated ignition wiring sets, generators for internal combustion engines, spark plugs for internal combustion, others. The motor vehicle electrical and electronic equipment market is driven by the increase in the demand for safer vehicles installed with electrical and electronic safety equipment to minimize the risk of road accidents. The rise in the number of accidents is a result of reckless driving, over speeding, decline to follow traffic rules, and drunken driving. Electrical and electronic systems such as anti-lock braking systems (ABS) increases the safety of the vehicle by preventing wheels from locking up during a fast braking process. According to the report by WHO in 2018, approximately 1.35 million people die each year as a result of road traffic crashes. In order to lower the risk of such accidents, the United States under the provisions of Federal Motor Vehicle Safety Standard (FMVSS 126), mandated ABS in all passenger cars sold in the U.S. The demand for vehicles that are less prone to accidents holds a positive impact on the growth of the motor vehicle electrical and electronic equipment market. The risk of life-threatening accidents due to the failure of electrical and electronic equipment in motor vehicles holds a negative impact on the growth of the motor vehicle electrical and equipment market. Any malfunctions with the electrical systems in the vehicles can lead to serious accidents. As reported by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, an agency of the U.S. federal government electrical system failure was the cause of 21% of motor vehicle accidents. In 2020, Toyota and Honda to recall over 6 million vehicles globally, which is a danger to travellers. The Toyota recall affects about 3.4 million vehicles globally and is being done because the airbags may not expand in a crash. Honda's recall covers approximately 2.7 million vehicles in the US and Canada with Takata airbag inflators. The risk involved with the failure of electrical and electronic equipment in motor vehicles restricts the growth of the market. The motor vehicle electrical and electronic equipment manufacturers are investing in improving the electronic sensors used in motor vehicles such as cars, trucks to increase visibility and awareness. Some vehicle sensors include ambient light, battery current, differential oil temperature, door open warning, anti-lock braking system (ABS), auto door lock position, battery temperature, brake power booster. Companies involved in the market are now developing sensors coupled with artificial intelligence and mobile connectivity. For instance, BMW in 2019 launched its BMW natural interaction system that uses voice commands, gesture control, and facial recognition to set temperatures according to preferences of the driver, to open windows through a combination of the driver pointing and giving verbal instruction. The new sensory technology is said to be used in iNext vehicle to be launched in 2021. The improvement in sensor technology marks the latest trend among the companies involved in the motor vehicle electrical and equipment market. In 2018, LG Electronics, a South Korean multinational electronics company acquired Austrian based ZKW Group for $1.3 billion. In the deal, LG Electronics acquired a 70% stake in ZKW Group while the parent company LG Corp. acquired the remaining 30% stake. Through the acquisition, LG aims to expand its business in the global lighting sector for vehicle components. ZKW Group designs and produces complex premium lighting and electronic modules for international automakers and holds a strong presence in markets throughout Europe in addition to China, Mexico, and the United States. The major players covered in the global motor vehicle electrical and electronic equipment market are Bosch, General Motors Corp., Tennaco, DENSO Manufacturing Tennessee, Delphi Corp, Hyundai, Hella, Technitrol Delaware Inc, Ford Motor Co., Technitrol Delaware Inc, Honeywell International Inc., Delphi Corp, Mars Inc., Raytheon Co., ZF TRW, ITT Federal Services Corp, Textron Inc., Cummins Inc., Infineon Technologies AG, Hitachi Ltd, HGM Automotive, Delta Electronics, Atotech Deutschland. The countries covered in the global motor vehicle electrical and electronic equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global motor vehicle electrical and electronic equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global motor vehicle electrical and electronic equipment market is segmented - 1) By Product Type: Lighting Equipment, Automatic Voltage And Voltage-Current Regulators, Insulated Ignition Wiring Sets, Generators For Internal Combustion Engines, Spark Plugs For Internal Combustion, Others

The vehicle engine and engine parts market consist of the sales of motor vehicle engine and engine parts and related services used in bikes, passenger cars, racing cars, commercial vehicles, marine, agricultural equipment and earth-moving equipment. The engine parts consist of an engine cylinder head, engine cylinder block, alternator, A/c compressor, power steering pump, flywheel, clutch assembly, clutch housing and transmission. The vehicle engine and engine parts market does not include engines for electric vehicles. The global vehicle engine and engine parts market is expected to grow from $228.99 billion in 2020 to $240.45 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $324.16 billion in 2025 at a CAGR of 8%. The vehicle engine and engine parts covered in this report is segmented by product type into vehicle engines and vehicle engine parts and by fuel type into gasoline (petrol), diesel, gas and others. The growth for the vehicle engine and engine parts market is restricted by the growing popularity of electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also does not contribute towards the air pollution. The popularity of the electric car market is backed up by several government initiatives such as in Norway, the drivers of zero emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. According to the reports by the International Energy Agency (IEA), the electric cars employing on the road is expected to reach almost 10 million in 2020. In 2019, China remained the largest car market in the world. The market share of battery electric vehicles was 58.4 percent in March 2019. With the increasing popularity of electric vehicles, the demand for engine operated vehicles is negatively impacted thus causing an overall fall in the demand for vehicle engine and engine parts market. Declining sales in the automobile sector restricts the growth of the vehicle engine and engine parts market. The decline in the demand for automobile in various economies causes lower demand for new engine and engine part manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car sales are expected to fall by about 3.1 million in 2019. In India, Society of Indian Automobile Manufacturers stated a decline of 12.34 per cent to 19,97,952 units in domestic sales was witnessed in June 2019. The companies operating in the vehicle engine and engine parts market are investing towards improving the fuel efficiency in internal combustion engines. Manufacturers are producing engines that delivers higher power and improves fuel economy. Improving the fuel efficiency of vehicle engine serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve the fuel efficiency companies are investing in "direct fuel injection" technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder helps keep the engine's temperature down and increases the fuel efficiency. Following the trend in 2019, Mazada, a Japanese automaker, launched the Mazda 3 with Mazda's Skyactiv-X gas-powered Spark-Controlled Compression Ignition engine. Also as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines. In 2019, Japan based, Honda Motor Co and Hitachi Ltd agreed to merge four of their car-parts businesses including -Hitachi Automotive Systems, Keihin Corp., Showa Corp. and Nissin Kogyo Co. The transaction will be completed in two steps with Honda making share offer to Keihin Corp., Showa Corp. and Nissin Kogyo following which Hitachi will make Hitachi Automotive Systems a subsidiary. In the merger, Hitachi will own 67 percent and Honda will own the remainder. Through this merger, Honda and Hitachi will get an access to resources and technology of mergers. Keihin Corp., Showa Corp. and Nissin Kogyo are Japan based manufacturers. Keihin is a manufacturer of conventional engine components including management systems for natural gas vehicles, Showa manufactures differential gears, shafts and other components, Nissin Kogyo specializes in the manufacturing of braking systems. The major players covered in the global vehicle engine and engine parts market are Cummins, Toyota Motor, DENSO Corporation, Delphi Automotive PLC, Federal Mogul Corporation, MAHLE GmbH, BMW AG, General Motors, Volkswagen AG, Fiat Automobiles SpA. The countries covered in the global vehicle engine and engine parts market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global vehicle engine and engine parts market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global vehicle engine and engine parts market is segmented - 1) By Product Type: Vehicle Engines, Vehicle Engine Parts 2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Others 3) By Placement Type: In-line Engine, W Engine and V-Type