Pressing and bending is an important aspect of any mechanical machining processes. Metal components such as sheets, plates, rods, pipes, and beams are required to be deformed in specific angles to be used for several end-use applications. The controlled deformation requires a versatile and accurate machine for carrying out operation such as compression molding, stamping, punching, drawing and bending among others. All the required attributes to carry out aforementioned application are efficiently incorporated by hydraulic press machines. Flourishing manufacturing & processing along with other end-use industries stimulating the demand for hydraulic press and thus, encouraging the market growth at a consistent pace.
The automotive software market stood at US$ 16.24 Bn in 2017 and expected to grow at a CAGR of 19.2% during the forecast period from 2017 to 2026 and reach US$ 78.62 Bn in 2026. In recent years, automobiles are transitioning from hardware-driven machine to a software-driven electronics device. The content of software and electronics per vehicle is increasing rapidly. By 2033, the average share of software is expected to reach 30% of overall vehicle content. One of the most prominent factors driving the automotive software market growth can be attributed to the increasing use of electronic content in vehicles.
The silicon anode battery market is projected to expand at a CAGR of 45.0% during the forecast period of 2025 to 2033. The increase in demand for high-performance batteries in energy storage applications is accelerating the market expansion of silicon anode batteries. A lithium-ion (Li-ion) battery with a silicon anode is known as a lithium-ion (Si-ion) battery.
The global haptic holography market was valued at US$ 351.0 Mn in the year 2021 and expected to reach US$ 11,468.7 Mn by the year 2033, expanding at a CAGR of 38.5% during the forecast from 2025 to 2033.
As a significant role to play, bending machines never lost their edge from metal forming and shaping processes. However, bending machines went through a lot of evolution since their first introduction in their mechanical version. Bending machines have grown more sophisticated and accurately automated machines, unlike the conventional hydraulic or pneumatic, powered. Consequently, the demand for modern bending machines is gaining momentum from past few years.
Fiber optic sensors have offered a viable solution for various industry verticals including industrial manufacturing & processing, oil & gas, energy & utilities, transportation, healthcare and others. Some of the key benefits offered by the fiber optic sensors include ease of installation, distributed measurements all across the fiber length and cost effectiveness.
The growth of wheel aligner equipment market is growing consistently in proportion with the growth in global automotive market. Wheel alignment is a vital aftersale service and is performed by owner multiple times during the lifecycle of an automobile. Realizing the growth opportunities, several vendors are starting new ventures for wheel alignment services.
The global rigid-flex PCBs market expected to hit the market value of US$ 5,805.5 Mn in 2029, growing at a Compounded Annual Growth Rate (CAGR) of 4.5% from 2021 to 2029. Prominent factor driving the rigid-flex PCBs market is the continual growth observed across the Internet of Things (IoT) technology. IoT has become a vital technology in the IT industry, utilized to synchronize all the smart objects over an integrated network through the Internet.
Since the early bronze age, metal joining process has been one of the most important and inseparable fragment of metal work. Among the several methods, riveting made a special place in permanent fastening and still has no replacement for several end-use applications such as construction of heavy structures and tanks & boilers vessels. Riveting is reliable fastening process and hence, the demand for preventing machines are observing a steady growth over decades and is not expected to cease for years to come.
The global market for elastic gaskets was valued at US$ 2,498.24 Mn in 2020 and expected to reach US$ 3655.04 Mn by 2029, expanding at a CAGR of 4.5% during the forecast period. Asia Pacific was the largest region for elastic gaskets in 2020 and expected to retain its position throughout the forecast period from 2021 to 2029. Further, the region is also expected to generate the fastest growth during the forecast period.
The worldwide auto parts manufacturing market is expected to have a CAGR of over 5% during the forecast period of 2023 to 2030. However, there are components such as the automotive traction motor market that are expected to witness a CAGR of 23% (2023 to 2030) also some of the electric vehicle components are expected to register a CAGR of over 30% (2023 to 2030). Therefore, this segment promises significant opportunities in the long-term future, particularly in developing economies within Asia. Due to stringent emission regulations and enhanced vehicle performance and engine efficiency, automotive components and materials have seen a dramatic transformation over time. New manufacturing technologies have significantly contributed to this transition of lightweight materials, composites, and alloys used in automobile components. Increasing power demands, higher fuel economy, and shifting consumer tastes have driven the automotive industry to provide more complex, durable, and secure goods for consumers.
On the exterior, every automobile appears luxurious, but on the interior, it is really a storage space for numerous automotive parts and components. There are numerous automotive parts that are integrated to manufacture a car. Spring is a material that is used to store potential energy. Depending on the application, a variety of spring models are available for each spring classification. Springs are manufactured to reduce the weight of industrial and aeronautical components. As a result, springs are commonly utilized in the construction of numerous vehicle components and aircraft frames. Moving between floors in public spaces has always been somewhat difficult. With modern automotive component amenities such as intelligent elevators, it is now simple to go between levels, a task that is typically time-consuming and tiring. As a result of smart elevators, going between floors is efficient, swift, and less time-consuming. Instead of pressing a button to go up or down, passengers can now choose the level they wish to travel to before entering the elevator, which will get them to their destination with the fewest number of stops.
Every automobile requires combustion to start. Spark plugs are the most essential equipment for starting a car, despite the fact that every component of a vehicle is vital. A spark plug is an electrical device that generates the spark at the appropriate time when the combustible air-fuel mixture in the cylinder bore needs to be ignited. The cylinder of a spark-ignition engine is threaded with it. The device's key components are its shell, resistance, electrodes, ribs, hex, and insulator.
Asia is emerging as the growth engine of the global automotive market, supported by its cost competitiveness, rising incomes, fast urbanization, improving infrastructure, and the potential for greater vehicle penetration in the majority of Asian nations. The majority of global manufacturers are already boosting capacity to satisfy rising demand in these areas, with the majority of new plants being established in Asia. Acute Market Reports provides automotive parts and component companies with exhaustive business research and strategic consulting solutions. The futuristic approach of Acute Market Reports enables our clients to make well-considered business decisions at the correct moment. We interact with an exhaustive range of industry stakeholders to give world-class strategic research solutions to our clients.
