The automotive smart display market is on a trajectory of rapid growth, poised to expand at a strong CAGR of 7.5% during the forecast period spanning from 2023 to 2031. This evolution is propelled by a convergence of factors that have profoundly shaped the automotive industry. Smart displays have gained substantial traction due to their pivotal role in enhancing driving experiences, facilitating connectivity, and augmenting safety features. However, challenges pertaining to driver distraction and cybersecurity cast a shadow over this surge.
The automotive wheel alignment services market is expected to rise at a CAGR of 4.2% during the forecast period of 2023 to 2031. This market plays a crucial role in maintaining the safety and performance of vehicles, as misaligned wheels can lead to uneven tire wear, reduced fuel efficiency, and compromised handling. The market revenue of automotive wheel alignment services has been steadily growing over the years due to various factors such as increasing vehicle sales, the growing automotive aftermarket industry, and the rising awareness among vehicle owners about the importance of regular wheel alignments.
The automotive plastic compounding market is expected to witness a CAGR of 6.2% during the forecast period of 2023 to 2031, due to the increasing demand for lightweight and fuel-efficient vehicles, stringent emission regulations, and the growing adoption of electric vehicles. Automotive plastic compounding involves the process of combining different additives, fillers, and reinforcements with base polymers to enhance their mechanical, thermal, and electrical properties. This enables the production of high-performance plastic components for automotive applications.
In 2022, the total value of the global market for electric two-wheelers reached US $22 Billion. The market will reach US $ 84.54 Billion by the year 2031, expanding at a CAGR of 16.47% during the forecast period of 2023 to 2031.
Demand for automotive diagnostic scan tools is expected to witness strong growth due to increasing electrification of vehicles worldwide. Automotive diagnostic scan tools are combination of electronic devices and software that are used as interface with diagnostic systems in vehicles. These tools are used for identifying faults or malfunctions in electric systems of vehicles by simply plugging cable into a diagnostic connector and running full scan.
The farm tractors market is expected to grow at a CAGR of 7% during the forecast period of 2023 to 2031. The farm tractor market is a vital segment of the agriculture industry, providing essential machinery for various farming activities. Farm tractors are versatile vehicles used for pulling or pushing agricultural implements, performing tasks such as plowing, tilling, planting, and harvesting. The market revenue of the farm tractors industry has experienced steady growth over the years, driven by the increasing mechanization of agriculture, rising global food demand, and the need for enhanced operational efficiency.
Automotive automatic transmission, also called as auto/self-shifting transmission, refers to a transmission system that is capable of changing automatically as the vehicle starts moving. Unlike manual transmission systems, automatic transmission eliminates the need for human intervention for gear shifting thereby providing better comfort to the driver. The history of automatic transmission dates back to early 1920s (invented by Alfred Horner Munro, Canadian steam engineer.
Material processing (viz. grinding, polishing, deburring and cutting) are among the most crucial operations carried across different industrial applications. Due to immense significance of precise finishing, it becomes highly essential for the industrial manufacturing and processing companies to adopt viable solutions so as to ensure accurate finishing of the concerned products and components.
The demand for X-ray tire inspection systems has been modest in developed markets like North America and Europe. The demand for X-ray tire inspection systems in these regions is expected to witness growth below the global average.
Automotive
