The global electric vehicle traction motor market was stood at US$ 3.20 Bn in the year 2021 and predicted to reach US$ 76.82 Bn by the year 2033, expanding at a CAGR of 25.0% during the forecast from 2025 to 2033.
The global ultracapacitor market was valued at US$ 2.24 Bn in the year 2021 and is expected to reach US$ 11.73 Bn by the year 2033, expanding at a CAGR of 16% during the forecast from 2025 to 2033. Ultracapacitor is an electrostatic energy storage device that stores energy by polarizing the electrolytic solution.
The growing need to improve the operation efficiency of commercial vehicles is driving the electronic logging device market in the world. Electronic logging device (ELD) technology is used in commercial vehicles, trucks, and buses to record driving time, hours of service (HoS), capture data on vehicle engine, movement & miles driven and driver ID. By using ELDs in their vehicles, drivers are benefitted with a reduction in their fuel cost, increased driver productivity and vehicle diagnostics in real-time.
The global hydrogen generation market value surged from US$ 121.6 Bn in the year 2018 and expected to reach US$ 228.9 Bn by year 2027, expanding at a CAGR of 7.3% during the forecast from 2019 to 2027. Hydrogen has unique capabilities and significant potential in low carbon energy future due to its abundance in the earth’s atmosphere and lightest of all elements. Its potential in a low carbon energy future is largely driven by three characteristics. First, efficient energy carrier and storage medium due to high specific energy content by weight. Second, the combustion of hydrogen produces only water and heat.
The global optocoupler IC market is expanding significantly, anticipated to surge at a CAGR of 5.9% during the estimated period from 2025 to 2033, starting from US$ 2.05 Bn in 2021. The optocoupler IC market is majorly driven by the rapid increase in the adoption of electric vehicles worldwide and the growing penetration of smart home devices. In 2018, the global smart home market was valued at around US$ 80 Bn and expected to grow with a CAGR of approximately 15% in years to come.
The global automotive glass market was valued at US$ 17.47 Bn in 2021 and is anticipated to grow to US$ 29.98 Bn growing at a CAGR of 6.3% throughout the forecast period from 2025 to 2033. Despite the challenging environment, the automotive market posted modest growth during 2018-19. According to report published by International Organization of Motor Vehicle Manufacturers (OICA) the global sales of automotive vehicle was 95,055,937 units globally. Thus driving the growth of the automotive glass market. Factors including rapid development of infrastructure, and support from fiscal stimuli among other are further fueling the market growth.
The global automotive camshafts market accounted for US$ 815.1 Mn in 2021 and is anticipated to grow to US$ 1222.7 Mn expanding at a CAGR of 3.5% during the forecast period from 2025 to 2033. In volume terms, the market registered sales of 186.15 Mn Units in 2020 and is estimated to reach 250.86 Mn Units by 2033 growing at a CAGR 3.8% during the forecast period.
The hydrogen energy storage market is expected to witness a CAGR of 7.5% during the forecast period of 2025 to 2033, driven by the growing demand for clean and sustainable energy solutions. Hydrogen energy storage involves the conversion of electrical energy into hydrogen through electrolysis, which can then be stored and used as a versatile energy carrier. This technology enables the storage and utilization of renewable energy sources, such as solar and wind power, overcoming the intermittency challenges associated with these sources.
Aluminum extrusion is a process used to create objects with a fixed cross-sectional profile by pushing or drawing aluminum through a die of the desired shape and size. This process enables the production of complex shapes that are lightweight yet strong, making it a favored technique in various industries such as construction, automotive, electronics, and aerospace. The extruded aluminum forms, which can include various lengths and shapes like rods, bars, tubes, and beams, are highly versatile and can be further manipulated through cutting, bending, and assembling to meet specific requirements. The aluminum extrusion market is expected to increase at a CAGR of 8.18% from 2025 to 2033.
The global motorcycle lead acid battery market was valued at US$ 4,982.5 Mn in the year 2021 and is expected to reach US$ 7,915.2 Mn by the year 2033, expanding at a CAGR of 5.3% during the forecast from 2025 to 2033.
Explore automotive parts and components market research reports covering powertrain systems, electronics, braking systems, vehicle interiors, exterior components and aftermarket products. These reports provide analysis of market size, growth trends, technology developments, supply-chain changes, competitive positioning and regional opportunities. The research supports component manufacturers, vehicle producers, distributors, aftermarket suppliers, investors and other businesses assessing the global automotive parts industry.