The value of the global automotive steering system market is expected to increase at a CAGR of 5.5% during the forecast period of 2022 to 2030. An automotive steering system is a collection of components that work together to regulate the path that a vehicle is going in while also assisting the driver in manoeuvring the vehicle in the desired manner. The component of the vehicle steering system that is operated manually includes the steering column, the universal joints, the rack and pinion mechanism, and the hand-driven steering wheel. As a result of this improvement, the steering system has been converted from manual steering to a power assist steering system.
The market for automotive seats is anticipated to expand at a CAGR of 4.5% during the forecast period of 2022 to 2030. The automotive seat market is being driven by a number of factors, including an increasing demand for premium vehicles, an increasing acceptance of powered seats in mid-segment cars and SUVs, and an expanding need for aftermarket seating solutions.
The global roller screws market is expected to grow at a CAGR of 6% during the forecast period of 2022 to 2030. Roller screws are a type of screw element that has a smooth cylindrical roller on the shaft in addition to a cylindrical nut or head. Because the roller is constructed to provide support along its length, it is suitable for usage in situations in which axial forces are generated as a result of reciprocating motion. Because of their ability to convert linear motion into rotational motion, roller screws are typically utilized either as linear actuators or as rotary actuators.
The market for automotive heater core is expected to expand at a 7.5% CAGR during the forecast period of 2022 to 2030. A specific kind of radiator device called an automotive heater core is used to heat the interior of vehicles. It is a crucial component of a car's cooling system for regulating the temperature inside the car.
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 2022 to 2030. In volume terms, the market registered sales of 186.15 Mn Units in 2020 and is estimated to reach 250.86 Mn Units by 2030 growing at a CAGR 3.8% during the forecast period.
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 2030, expanding at a CAGR of 5.3% during the forecast from 2022 to 2030.
The global kick scooter market is growing at a rapid pace, anticipated to grow at a CAGR of 10.5% during the projected period from 2022 to 2030, starting from US$ 618.7 Mn in 2021. The market is majorly driven by growing traffic congestion, first & last-mile transportation and health consciousness amidst millennia’s. Rising obesity and overweight concern among kids & adult people will also help in market growth.
The wind turbine rotor blades market is expected to reach US$ 64.44 Bn in 2030, growing at a CAGR of 12.64% during the forecast period from 2022 to 2030. The rising threat of climate change and global warming has pushed the energy sector for transition towards renewable sources. UN’s Paris climate agreement of 2016 further conveyed the message of unified global effort to enhance the support through financing and technology development.
Globally, the pressure reducing valve market is expected to grow with a CAGR of 4.2% through the forecast period, up from US$1.75 Bn in 2020. The growth of the market is attributed to the increasing adoption of the pressure reducing valves across the wide range of application across several industry verticals. The valves are widely used to maintain and relieve the pressure of the gas and fluids. The valve reduces the frequency of the unstable pressure and maintains a constant pressure via spring mechanism.
The two-wheeler hub motors market worldwide is expected to grow with a CAGR of 7.23% during the forecast period from 2022 to 2030, starting from US$ 1,530.3 Mn in 2020. Two-wheeler hub motors market is expected to witness steady growth in the near future due to growing government initiatives, policies towards electric vehicle adoption and rising consumer concern towards environment. There are two types of motors available in the market namely hub motors and mid-drive motors. Hub motors are cheap, easy to install and easy to ride, on the other hand mid-drive motors are expensive and more complex to install.
Parts & Suppliers Markets Research Reports
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