Automotive Parts/Components Market Research

Globally, the HID ballast market is expected to decline with a CAGR of -5.2% during the forecast period from 2025 to 2033, starting from US$ 7.63 Bn in 2020. The supportive government policies and initiatives related to restricting the use of inefficient lamps is the primary force inhibiting the growth of the HID ballast market. The governments across the globe are constantly working towards optimizing the use of energy resources and promoting the use of energy-efficient technologies.

Autonomous underwater vehicle (AUV) is a vehicle which is operated under water and does not require any human efforts for its operation. It has a capability to function according to the preprogramed instructions which are imbibed within. Autonomous under water vehicles are mainly used to map the seafloors, examine physical and biological properties of water, detecting the lost ship, pipeline inspection or for navy purposes.

Globally, the supercapacitors market is expected to grow with a CAGR of 17.1% during the forecast period from 2025 to 2033, starting from 2020 with a market value of US$ 492.0 Mn. The supercapacitors are defined as devices, which store electrochemical energy, discharge it by reversible adsorption, and desorption of ions during the interface between electrolytes and electrode materials.

Globally, the display controller market is expected to grow with a CAGR of 10.5% during the forecast period from 2021 to 2029, starting from 2020 with a market value of US$29.76 Bn. Display Controller is defined as integrated circuits or component, which controls the interface between a buffer and a monitor. They are one of the main components of the various displays such as LCD screens, mobile phones, and others.

The wireless communication module market worldwide is expected to grow with a CAGR of 14.1% during the forecast period from 2021 to 2029, starting from US$ 21.92 Bn in 2020. Technological propagation and increasing array of the digital devices, enhanced interfaces for the real-time web surfing and the applications have considerably increased the data usage over the wireless networks. Therefore, customers are more susceptible to use the wireless digital devices against the personal computers for the purpose of accessing the real-time data.

The headlight control module market worldwide is expected to grow with a CAGR of 4.2% during the forecast period from 2021 to 2029, starting from US$ 3.72 Bn in 2020. Headlight control module for the high beam adaptation during the night vision applies an embedded design approach. In October 2020, Hella launched a smart headlight technology research project for the efficient development of the intelligent headlamps. Project aims towards developing the intelligent headlamp which not only identifies probable changes in the performance at a very early stage but is also very much capable of reimbursing for them.

Globally, the thyristor market is expected to grow with a CAGR of 7.3% during the forecast period from 2025 to 2033. The market is driven by the increasing demand among the developed countries to replace the aging infrastructure and wide scale deployment of smart grids. The thyristor are widely used across the power electronics applications ranging from power supplies to inverters to controller due to its low switching losses and high energy efficiency.

The global automotive rear lights market is poised to reach US$ 8.52 Bn by 2029, expanding at a CAGR of 4.7% during the forecast period from 2021 to 2029. Digitalization in the automotive industry has taken production to the fast lane. Increasing automotive production worldwide has therefore created huge demand for related components including rear lights. Most of the automobile manufacturing companies are implementing innovative and advanced technologies in vehicle lighting systems in a bid to develop energy efficient solutions.

The super-capacitors and ultra-capacitors market worldwide is expected to grow at a CAGR of over 28.23% during the forecast period. A capacitor is a passive two-terminal electronic component that store electrical energy in an electric field. Due to high power density and cyclability, capacitors have been in huge demand. Super-capacitor is an enhanced form of traditional capacitor while ultra-capacitors are ideally used in consumer electronics. Regulatory changes and standards for environmental safety may supplement the growth in sales of capacitors. Due to these factors, we are expecting a steady increase in the super-capacitors and ultra-capacitors market during the forecast period.

The global automatic tire inflation system market is expected to reach at US$ 2283 Mn with a CAGR of 11.54% during the forecast period from 2019 to 2027. Automatic tire inflation system (ATIS) is used to maintain appropriate air pressure on each tire of a vehicle. An underinflated tire pressure can be dangerous for personal as well as for the vehicle. If the air pressure is low, larger surface of tire touches the road, which thereby increases tire friction.