Rahul Gautam

  • Autonomous Car Market Research Report - North America Regional Outlook

    The North American autonomous car market is predicted to generate a revenue of $52.3 billion in 2030, witnessing a 17.1% CAGR during 2023–2030. The market is growing due to the increasing research & development activities for the development of autonomous cars, federal and state-level support ensuring growth of autonomous cars, requirement for a safe and efficient driving option, and evolution in connected and electric car technologies. Autonomous cars have different automation capabilities according to their levels, which range from 1–5.

    In terms of vehicle autonomy, the North American autonomous car market is bifurcated into semi-autonomous and fully autonomous cars. Between these, the semi-autonomous cars are predicted to account for the major value share of the market during the forecast period (2019–2030). These cars are further categorized into three levels, namely level 1, level 2, and level 3, based on their automation capabilities. Among these, the level 1 semi-autonomous cars are expected to hold the largest value share of the market during the forecast period.

    When vehicle type is taken into consideration, the North American autonomous car market is divided into internal combustion engine (ICE), battery electric vehicle (BEV), hybrid electric vehicle (HEV). Among these, the market was dominated by the ICE division during the historical period, with a share of more than 85.0% in 2018, in terms of volume. The BEV division is predicted to witness the fastest growth during the forecast period because of the increasing support from governments in the form of grants and incentives and strict emission regulations.

    A key driving factor of the North American autonomous car market is the evolution of electric and connected car technologies. Connected cars are integrated with different features, which are not available in traditional passenger cars, such as road side assistance, real-time traffic monitoring, smartphone connectivity with the vehicle, and traffic and collision warnings. In addition to this, connected cars offer vehicle-to-infrastructure and vehicle-to-vehicle interfaces and sensor applications. The digitization in connected cars is thus driving the growth of the market. Furthermore, it is comparatively easier to integrate autonomous technology in connected cars than traditional cars.

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    Another factor resulting in the growth of the North American autonomous car market is the need for a safe and efficient driving option. Various factors, including inappropriate speed, failure to pay attention, and keeping an unsafe distance from the vehicle in front, are responsible for the surging number of road crashes, which is why the demand for safer driving technology is increasing. Autonomous and semi-autonomous cars are integrated with different features that assist the driver, thereby making it safer for the passengers, due to which the adoption of these cars is increasing.

    A major trend being observed in the North American Autonomous car market is the integration of artificial intelligence (AI) in autonomous cars, especially level 4 and 5. Due to the integration of this technology, the development of driver monitoring, speech recognition, gesture recognition, eye tracking, virtual assistance, and natural language interfaces ahs been enabled. In addition to this, AI has helped in the development of the advanced driver assistance system (ADAS) that includes driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units.

    Hence, the market is growing due to the evolution of connected and electric car technologies and need for an efficient and safe driving option.


  • Business of Tire - Industry Growth, Size, Share and Future Prospects till 2024

    From valuing $155.3 billion in 2018, the automotive tire market is projected to grow to $237.2 billion by 2024, registering a CAGR of 7.7% during the forecast period (2019–2024).

    In the coming years, the Asia-Pacific (APAC) region would continue being the largest automotive tire market. It held a volume share of more than 55.0% in 2018. This growth is mainly attributed to the increasing gross domestic product (GDP), rising automobile production, and improving disposable income of people in developing nations, such as India and China. Additionally, the North American market is also witnessing a rapid increase in its revenue due to the rising number of investments, by both domestic and international manufacturers.

    The categories of the automotive tire market based on vehicle, are two-wheelers, light commercial vehicles, passenger cars, and medium & heavy commercial vehicles. During the historical period (2014–2018), the largest market share was held by the passenger cars category. In the forecast period, the fastest growth is predicted to be exhibited by the medium & heavy commercial vehicles category. The American Trucking Association reported that the U.S. truck transportation volume in 2018 grew by 4.2%, due to the rising economy and flourishing manufacturing industry in the country. This is credited to the growing demand for these vehicles across various industries for transportation purposes.

    The automotive tire market is witnessing a surge in demand due to the improvement in the average lifespan of a vehicle owing to technological advancements. From 10.5 years in 2010, the average lifespan of vehicles has increased to 12 years in 2018. Many factors, such as the rising competition in the market and stricter government regulations have resulted in the enhanced durability of vehicles over the years. Further, it is being observed that customers are retaining their older vehicles while buying small crossover vehicles. The retention of old vehicles is expected to drive the demand for tires for replacing old and worn-out tires.

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    The automotive tire market is observing the trend of next-generation, high-performance tires across the world.  Their popularity in the market is encouraging key players to invest in the development of ultra-high-performance tires, which would allow vehicles to run at higher speeds. For their development, patented technologies are being employed along with specialized silica compounds and unique designs to keep up with changing demands of consumers and also deliver desired performance. Additionally, all-season, high-performance tires are also being developed by manufacturers to offer riders a smooth riding experience.

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    The major share of the automotive tire market is cumulatively held by four major players that accounted for more than 45.0% of global tires sales in 2018. The leading market player was Générale des Établissements Michelin, followed by Bridgestone Corporation. The third largest player in the market was The Goodyear Tire & Rubber Company, with the fourth one being Continental AG.


  • EV Parts Market Business Report - Company Assessment and Industry Analysis 2025

    In 2018, the global electric vehicle component market reached a value of $22.2 billion and is projected to attain $157.4 billion by 2025, advancing at a 29.4% CAGR during the forecast period (2019–2025). The market is witnessing growth because of the rising adoption of electric vehicles (EV) and declining cost of the components used in them. On the basis of end-use, the market is bifurcated into original equipment manufacturers (OEM) and aftermarket, among which, the larger demand for electric vehicle components was created by the OEMs division in 2018.

    When component is taken into consideration, the electric vehicle component market is categorized into battery pack, controller, electric vehicle supply equipment, high-voltage cable, thermal management system, motor, DC-DC converter, power distribution module, and vehicle interface control module. The battery pack category is projected to account for the major share of the market during the forecast period, as it the most important part of the vehicles. Moreover, battery pack accounts for approximately 35–50% of the total cost of electric vehicles, which is why this component is the major revenue contributor to the market.

    Among all the regions, namely Europe, Asia-Pacific (APAC), North America, and Rest of the World, the largest share of the electric vehicle component market was held by the APAC region in 2018. This was due to the increased usage of electric vehicles in the region, primarily in China. Factors including rising government support for EVs in the form of subsidies, increasing environmental concern, and growing ownership costs of internal combustion engine-based vehicles are leading to the use of electric vehicles in the region.

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    People are becoming more aware regarding the adverse effects of vehicular emissions on the environment, which is why the adoption of EVs is rising, further driving the electric vehicle component market. At the present time, approximately 43% of the total amount of greenhouse gases being emitted in the world is contributed by the automobile sector. Hence, several countries are taking initiatives to curb the emissions by reducing the use of fuel-based vehicles. The increased usage of electric vehicles will result in the reduction of the amount of carbon dioxide being emitted into the environment.

    Furthermore, the governments of different countries are increasingly taking steps for supporting the adoption of electric vehicles. Tax exemptions, financial incentives, and purchase rebates are some of the supportive initiatives taken by governments, which are predicted to drive the electric vehicle component market in the coming years. For example, the federal government in the U.S. provides an Internal Revenue Service tax credit of $2,500 to $7,500 per new EV purchased, where the tax credit amount depends on the size of the vehicle and battery capacity.

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    A key trend that is being observed in the ev component market is the rising preference for induction motors over synchronous motors. The reason for this is that the induction motors have improved efficiency and aid in reducing the magnetic losses by decreasing the inverter voltage. In addition to this, these motors need minimal maintenance because of the absence of slip rings, brushes, and commutators, which is why their popularity has increased in the recent years.

    Thus, the market is growing due to the growing adoption of electric vehicles, which is further taking place due to the rapid environmental degradation and rising government support for the adoption of electric vehicles.


  • Europe Self-Driving Car Market Demand - Industry Share, Size and Research Report

    In the European region, about 230 people each day and approximately 83,000 people every year die due to road accidents, according to the World Health Organization. While vehicles have made life immensely easy for everyone, road traffic, deaths, and serious injuries caused because of road accidents and crashes are the ugly side of road transportation. Road accidents can be mainly attributed to human error; drivers’ failure to pay attention, keeping unsafe distance from the vehicle moving in front, and inappropriate speed are just some errors which lead to road fatalities. Because of these reasons, there is a growing need for a safer and more-efficient driving option. Autonomous cars are expected to become the go-to option for people, who want to prioritize safe road transportation, in the coming years.

    Such cars can be semi-autonomous or fully autonomous: semi-autonomous cars are not self-driving but may be able to deaccelerate, accelerate, or stop without human intervention, depending on their level of automation. A fully autonomous car, however, does not require a human to drive them safely, as these vehicles have software and sensors to navigate, control, and drive themselves. In the coming years, the European autonomous car market for fully autonomous models is predicted to reach 4.0 million units, advancing with a CAGR of 37.4%, as per P&S Intelligence. The demand for commercial autonomous cars is expected to be more than that for personal ones in the near future. This would be due to the rising deployment of fully autonomous cars for commercial purposes. The car ownership scenario is also changing in the European region because of the increasing availability of shared autonomous cars.

    The use of autonomous cars as mobility-as-a-service (MaaS) is projected to result in their increasing demand. Risk factors, such as those related to car crashes (as mentioned above), are quite high in traditional car sharing services. Due to this, service providers are expected to focus on the autonomous technology, and large fleet operators are predicted to be among the early adopters of fully autonomous cars. Furthermore, since the operational cost of conventional cars is higher, ride sharing services on autonomous cars will be much more cost-effective for service providers. Because of all these advantages, different car manufacturers and technology companies are increasing their focus on the development of autonomous taxis or robo-taxis. Take for instance Navya, a French start-up, which launched its first autonomous taxi in 2018. Similarly, Waymo and Alphabet have joined forces in order to introduce robo-taxi services in Europe in the near future.  

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    The integration of artificial intelligence (AI) in the automotive industry has made possible the development of level 4 and 5 autonomous cars. The development of several technologies, such as virtual assistance, driver monitoring, natural language interface, gesture recognition, speech recognition, and eye tracking, has been due to the penetration of AI. In addition to this, AI has also helped in the development of the advanced driver-assistance system (ADAS), which includes driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units. Thus, because of the integration of AI, the demand for autonomous cars in the European region is predicted to increase significantly in the coming years.


  • Mobility as a Service Market Size, Share Analysis and Growth Forecast to 2024

    The mobility as a service (MaaS) market, which generated a revenue of $171.5 billion in 2018, is predicted to grow to $347.6 billion in 2024, at an 11.9% CAGR during 2019­–2024 (forecast period). Car rental was the largest service type category in the market during 2014–2018 (historical period), as a result of the rapid shift from offline booking to online booking and expanding travel and tourism sector.

    A major trend in the MaaS market is the adoption of electric vehicles for sharing purposes. Concerned at the high pollution levels and fossil fuel prices, the government of various nations are formulating policies and offering incentives to encourage the usage of electric vehicles in sharing fleets. Additionally, several automotive giants are also taking efforts to offer mobility services on clean-energy vehicles. For instance, plans of launching a sharing service, solely on electric cars, were announced by Hyundai Motor Company in 2019.

    Governments are also taking initiatives to make shared mobility popular, thereby driving the MaaS market across the world. With an increasing number of people shifting to shared mobility, from driving their personal vehicles, the problem of urban traffic congestion can be solved. This is why, not just the national governments, but those on the state/province or local levels are also making efforts to augment the popularity of the concept. For instance, intentions of constructing parking infrastructure for shared vehicles were announced by the Mayor of London in November 2018.

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    In 2018, the largest share in the MaaS market was occupied by the daily commuting category, based on commuting pattern. This is attributed to the increasing number of students and young professionals demanding shared mobility, for meeting their everyday traveling needs. Further, on the bases of vehicle type, the car category led the market in 2018; during the forecast period, the bus category would progress at the highest CAGR, as service providers are expanding in new cities and shuttle services are witnessing swift adoption.

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    Asia-Pacific (APAC) contributed the highest revenue to the MaaS market in 2018, as a result of the high demand for such services, rising disposable income, and widespread concerns about air pollution, especially in India and Taiwan. Additionally, with high industrialization and urbanization rates, the number of people commuting for work is surging in the region. The governments in regional nations are also working to constructed infrastructure for shared commute as well as boost the number of electric vehicles for the purpose.


  • Germany Autonomous Vehicle Market Research Report - P&S Intelligence

    Around 1.4 million people lose their lives each year due to road accidents, and almost 50 million more people suffer from serious injuries that result in disability, as reported by the World Health Organization. Not only do these injuries cause losses to individuals, they also affect families and nations as a whole. Loss of productivity occurs due to disability of the injured as well as engagement of family members, who take out time to care for the injured. It has been reported that road accidents cost most countries 3% of their gross domestic product.

    Taking Germany as a specific example, in 2018, more than 3,200 people were killed due to road crashes, which was approximately 2.7% higher than last year, as per the Federal Statistical Office. Majority of these accidents are attributed to human errors, such as the failure to pay attention on the road while driving, keeping unsafe distance from the vehicle in front, and inappropriate speed. To tackle these, the need for autonomous vehicles is being felt in the country, where systems such as anti-lock braking system, automatic emergency braking, advanced driver-assistance system (ADAS), and adaptive cruise control help drivers journey safely.

    A study conducted by P&S Intelligence has predicted the German autonomous vehicles market for fully autonomous variants to grow to $28.0 billion in the near future, witnessing a 20.2% CAGR. An autonomous vehicle is able to drive itself from one point to another without any human interference, in an auto-pilot mode.  This is done using different technologies, such as adaptive cruise control, global positioning system, and radar and lasers, for precise maneuvering on the roads. Autonomous vehicles are primarily of two types — fully and semi-autonomous. In 2018, only the semi-autonomous vehicles were bought, as even though fully autonomous vehicles are in demand, they are still in the development and testing phases and are expected to be available for public use in the coming years, when they would witness the faster growth in demand.

    Autonomous vehicles can be deployed on German roads to offer mobility-as-a-service (MaaS). These vehicles, owing to their low operational costs, can be used as passenger taxis that would offer people a cheaper way to travel than conventional taxis. This would not only offer a safer riding experience, but also help curb the traffic on the roads, as these vehicles are expected to be priced at a premium level, which would make them accessible to a limited number of customers only. Further, MaaS is expected to establish a niche for autonomous vehicles as robotaxis, which is being researched on by many vehicle manufacturers. In 2017, a demo robotaxi, Continental Urban mobility Experience (CUbE), was manufactured and tested by Continental AG in Frankfurt.

    Autonomous vehicles are of the following types, considering what they use as fuel — battery electric vehicle (BEV), internal combustion engine (ICE) vehicle, and hybrid electric vehicle (HEV). Of these, the ICE type were in the highest demand in the past. These vehicles use combustion engines to generate propulsion power and run on fossil fuels, such as gasoline, diesel, and compressed natural gas. However, in the coming time, BEVs are expected to witness the fastest growth in demand due to the growing environmental concerns, stringent vehicular emission norms, and government support to popularize electric vehicles. Further, the growing research and development activities in this domain would continue to add to the demand for battery electric autonomous vehicles in the coming future.

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  • Start-Stop Technology Market Research Report

    The stringent emission control regulations and increasing adoption of hybrid vehicles are two of the major factors responsible for the growth of the start-stop technology market. In 2015, the market generated revenue of $2,100.2 million, and it is predicted to attain a size of $7,058.0 million by 2022, progressing at a CAGR of 18.8% during the forecast period (2016–2022). Start-stop technology automatically turns off the engine, when the vehicle is about to stop and restarts it again when the driver takes their foot off the brake in automatic-transmission vehicles or use the clutch in case of manual transmission.

    On the basis of product, the start-stop technology market is divided into enhanced starter, direct starter, integrated starter generator (ISG), and belt-driven alternator starter (BAS). Out of these, during the historical period (2012–2015), enhanced starters dominated the market in terms of sales volume and revenue, and these are predicted to maintain their dominance during the forecast period. This is attributed to their better cost-effectiveness and fuel-efficiency compared to BAS and direct starters. Due to these benefits, the demand for enhanced starters is rising, thereby leading to the growth of the market. 

    Based on region, the start-stop technology market is categorized into Asia-Pacific, Europe, North America, and Rest of the World (RoW). Among these, during 2012–2015, Europe led the market in terms of sales volume, and it is projected to continue leading it during 2016–2021. This is ascribed to the high contribution by the U.K., Germany, France, and Italy to the European start-stop technology sector, which is dominated by colossal players, such as Continental AG, Robert Bosch Gmbh, and Denso Corporation.

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    Furthermore, the rapid development of the technologies in the automotive sector in European countries and surging concerns on carbon emission are two of the reasons behind the growth of the start-stop technology market. In accordance with the European government’s regulations, the average emission level from new cars decreased by 160 g/km during 2006–2012, and by 2020 it is expected to reduce to 95 g/km. In addition, the governments of various individual nations are formulating strict environmental guidelines focusing on reducing the vehicle emission.

    For instance, the Environmental Protection Agency (EPA) has implemented emission standards for light trucks and cars. As per EPA’s target for 2016, the permissible emission from a passenger car could not cross 225 g/mi (gram/mile). Similarly, in 2016, the allowed combined fuel economy for trucks and cars was 35.5 mpg, which is further to surge up to 54.5 mpg by 2025 in North America. Due to the increasing emission from fossil fuel-driven vehicles, the level of air pollution is rising, resulting in major concerns across the globe.

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    This, in turn, has compelled policy makers to come up with an alternative, i.e. low-emission vehicles. Although, natural gas-based public transit is still preferred as an alternative to fossil fuel-based public transit, hybrid vehicles are earning popularity nowadays owing to their zero-carbon dioxide emission, thus, boosting the progress of the start-stop technology market, mainly in developed nations. Despite the sluggish economic growth in European countries, such as France, Sweden, and Norway, hybrid and electric vehicle sales are expected to be augmented during 2016–2022.

    Thus, the increasing penetration of such vehicles and stringent government regulations are projected to fuel the growth of the market during the forecast period.


  • Start-Stop Technology Market Research Report

    The stringent emission control regulations and increasing adoption of hybrid vehicles are two of the major factors responsible for the growth of the start-stop technology market. In 2015, the market generated revenue of $2,100.2 million, and it is predicted to attain a size of $7,058.0 million by 2022, progressing at a CAGR of 18.8% during the forecast period (2016–2022). Start-stop technology automatically turns off the engine, when the vehicle is about to stop and restarts it again when the driver takes their foot off the brake in automatic-transmission vehicles or use the clutch in case of manual transmission.

    On the basis of product, the start-stop technology market is divided into enhanced starter, direct starter, integrated starter generator (ISG), and belt-driven alternator starter (BAS). Out of these, during the historical period (2012–2015), enhanced starters dominated the market in terms of sales volume and revenue, and these are predicted to maintain their dominance during the forecast period. This is attributed to their better cost-effectiveness and fuel-efficiency compared to BAS and direct starters. Due to these benefits, the demand for enhanced starters is rising, thereby leading to the growth of the market. 

    Based on region, the start-stop technology market is categorized into Asia-Pacific, Europe, North America, and Rest of the World (RoW). Among these, during 2012–2015, Europe led the market in terms of sales volume, and it is projected to continue leading it during 2016–2021. This is ascribed to the high contribution by the U.K., Germany, France, and Italy to the European start-stop technology sector, which is dominated by colossal players, such as Continental AG, Robert Bosch Gmbh, and Denso Corporation.

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    Furthermore, the rapid development of the technologies in the automotive sector in European countries and surging concerns on carbon emission are two of the reasons behind the growth of the start-stop technology market. In accordance with the European government’s regulations, the average emission level from new cars decreased by 160 g/km during 2006–2012, and by 2020 it is expected to reduce to 95 g/km. In addition, the governments of various individual nations are formulating strict environmental guidelines focusing on reducing the vehicle emission.

    For instance, the Environmental Protection Agency (EPA) has implemented emission standards for light trucks and cars. As per EPA’s target for 2016, the permissible emission from a passenger car could not cross 225 g/mi (gram/mile). Similarly, in 2016, the allowed combined fuel economy for trucks and cars was 35.5 mpg, which is further to surge up to 54.5 mpg by 2025 in North America. Due to the increasing emission from fossil fuel-driven vehicles, the level of air pollution is rising, resulting in major concerns across the globe.

    Make Enquiry Before Buying the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=start-stop-technology-market

    This, in turn, has compelled policy makers to come up with an alternative, i.e. low-emission vehicles. Although, natural gas-based public transit is still preferred as an alternative to fossil fuel-based public transit, hybrid vehicles are earning popularity nowadays owing to their zero-carbon dioxide emission, thus, boosting the progress of the start-stop technology market, mainly in developed nations. Despite the sluggish economic growth in European countries, such as France, Sweden, and Norway, hybrid and electric vehicle sales are expected to be augmented during 2016–2022.

    Thus, the increasing penetration of such vehicles and stringent government regulations are projected to fuel the growth of the market during the forecast period.


  • Bike Sharing Market Analysis Report, Competitive Market Share & Forecast 2025

    With urbanization, the demand for daily commuting is also growing. People need an efficient transportation mode to travel from their homes to an intermediate point, such as a bus stop or metro station, and then from that intermediate point to work, college or any other destination. Additionally, a large number of people also travel directly between their home and destination, without using intermediary modes of transport. Hiring a cab or using other public transit services can be slightly expensive and not always reliable, in terms of efficiency, which is why the demand for micromobility services, including bike (bicycle) sharing, is rising.

    From $2.7 billion in 2018, the bike sharing services market is expected to grow to $5.0 billion by 2025, at a 10.2% CAGR during 2019–2025 (forecast period). Dock-less and station-based are the two types of bike sharing services available across the world, of which dock-less services were more popular in 2017–2018. This is because dock-less bikes can be picked up and dropped off anywhere, as per the convenience of riders, which makes them more popular. Even service providers prefer dock-less bikes, as these require less capital expenditure than the station-based system.

    Among the two types of bikes available for sharing purposes — pedal and electric — e-bikes are rapidly gaining popularity. The major reason behind it is that such vehicles are capable of higher speeds, compared to manually operated bikes. As the demand for higher speeds for short-distance traveling is increasing, so is the preference for e-bikes. People are ignoring the fact that sharing services on pedal-assisted bikes are cheaper than e-bikes, as the latter offer effortless driving, more convenience, and variable motor power, apart from higher speed.

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    Along with offering commuters cost efficiency, bike sharing also helps in tackling the problem of road congestion. With the increasing population, especially in cities, the number of vehicles on the roads is also going up. This is leading to the growing problem of urban congestion, which is prompting governments across the world to encourage the usage of bikes for first- and last-mile commute. As such vehicles take up significantly less space on roads and also require smaller parking slots, these help in controlling the traffic congestion.

    Yet another factor tipping the scales in shared bikes’ favor is the convenience they offer to users. Commuters have to pay a small registration fee, followed by additional charges for every 30 minutes of travel. Additionally, bicycles are available 24 hours a day, making round-the-clock commute possible. Service providers have mobile applications, which provide important details, regarding the bikes, to users, along with instant booking facility. As there are no fixed parking spots (for dock-less services), people can keep the vehicles anywhere, after the end of their journey, which saves the time, otherwise spent in locating parking stations.

    The bike sharing market growth in Europe is predicted to be the fastest across the globe, as a large number of service providers would venture into the region in the coming years. In regional countries, bikes are being rapidly made available near major transit hubs, such as railway stations, thereby offering users convenience and ease of travel. Additionally, the European Union (EU) also promotes such services, as they are environment-friendly and help reduce traffic.

    Therefore, with an increasing number of people demanding cost-effective daily commuting options, the popularity of bike sharing services would continue increasing.

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  • Asia E-Three-Wheeler Market Analysis Report, Business Revenue Forecast

    The APAC electric three wheeler market is predicted to advance at a 4.1% CAGR during 2018–2023, as predicted in a P&S Intelligence study. Electric three-wheelers are considered environment-friendly, as they have nearly zero emissions, and are preferred over the petrol variants. These electric three-wheelers are used as a load carrier and a passenger carrier. Between the two, the demand for three wheelers was the highest for carrying passengers in 2017. In fact, in the coming years as well, the use of these vehicles would remain the highest. This can be ascribed to the presence of a large consumer base in the region and surging demand for low-cost shared mobility. The fastest growth in demand is expected to be witnessed by the load carrier type three wheelers due to the flourishing e-commerce industry.

    The dire state of the environment in today’s times is evident by the global climate change. More intense heat waves, accelerated sea levels, and loss of sea ice are some of the effects that scientists had predicted, which are now occurring. Further, it has been established by scientists that the global temperatures would continue to rise in the coming decades, majorly due to the emissions of greenhouse gases produced as a result of human activities. Fossil fuels, which contain carbon as one of their chief constituents, have been fulfilling our energy needs since a long time.

    Majority of the countries located in the APAC region are witnessing a spike in the urban population, which is further driving the demand for a most robust public transport system. The APAC electric three wheeler market is witnessing a massive boom in product demand due to the focus of the governments on providing sustainable transport to their residents. Among various APAC countries, India and China have witnessed the highest growth in urbanization — 33% in India and more than 57% in China. Further, these countries have a high volume of vehicles, and road congestion can be commonly seen here. Therefore, being compact than regular cars, three- wheelers are extremely popular in emerging economies. The electric variants help in providing means of transport in a sustainable way.


  • Car Rental Market Demand, Size, Industry Trend and Business Revenue Forecast

    The World Travel and Tourism Council reported that in 2018, a growth of 3.9% was witnessed by the global travel and tourism industry. It created more than 319 million jobs worldwide and amassed $8.8 trillion in 2018. This massive growth in the industry also boosted the growth of other related industries, such as car rental. Nowadays, tourists prefer renting cars to explore a new place as it gives them the flexibility of planning their own itinerary without the fear of relying on public transport system. Car rental services allow customers to travel to their choice of places as per their convenience. Further, the rising disposable income has also established the trend of more people taking short trips. Rather than taking their own vehicle, customers prefer renting cars; airport rentals are the most common as tourists rent a car immediately after landing in a new country and keep the car with them for the whole duration of their stay or drop them off at convenient drop-off points.

    Witnessing a 7.9% CAGR, the car rental market is expected to generate a revenue of $122.6 billion in the coming years. Car rental services are offered via three different vehicle types: luxury, executive, and economy. During 2014–2018, the economy vehicle type was used the most for car rental services. These cars are inexpensive and are smaller in size and have a seating capacity of four to five persons. Being smaller in size, these cars have a high fuel efficiency, which makes them a suitable option for rental services. Further, amidst growing environmental concerns, these cars are witnessing a high demand as their impact on the environment is not as severe as other cars. In the coming years, the luxury cars are predicted to register a faster growth in demand, as the global disposable income is improving. These cars offer superior performance, comfort, and have better configuration.

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    The popularity of the internet has resulted in the development of the online or digital car rental system, which is helping the car rental sector become more organized. Online car rental allows the consumers to shortlist the car of choice, and make bookings well in advance without the hassle of visiting the office. Further, majority of the companies have their own applications, which can be used by consumers to avail any assistance that they may need throughout the rental period. Therefore, the digitization of the car rental process has made it much safer, transparent, and cost-effective, which has been instrumental in making these services popular.

    Key Questions Addressed/Answered in the Report

    1. What is the current scenario of the global car rental market?
    2. What are the emerging services/technologies in the rental market?
    3. What is the historical and the present size of the market segments and their future growth potential?
    4. What are the major catalysts for the market and their impact during the short, medium, and long terms?
    5. What are the evolving opportunities for the players in the market?
    6. Which are the key geographies from investment perspective?
    7. What are the strategies adopted by the major players to expand their market share?


  • Footwear Market Trend, Size, Growth and Demand Forecast to 2024

    Footwear is a garment wore in feet. The various materials used in manufacturing footwear are leather, jute, wood, plastic, textiles and rubber. The footwear business is a huge and increasingly diversified business, driven by changing lifestyle and fashion trends. Brand awareness and need for comfort are also fuelling the growth of the global footwear market size. Though the global economic crisis hampered the demand of footwear market in last few years, the global market size of footwear increased over the period due to increased demand from emerging nations.

    Rising demand for different types of footwear products are paving new opportunities for many manufacturers. With rapid increase in eco-friendly footwear, as consumers favor biodegradable materials that do less damage to the environment than other fabrics, the global footwear market is expanding. Also, the increasing popularity of sports such as cricket, football, soccer, hockey and tennis, contribute to the growth of global footwear market. To maintain high quality, manufacturers have to make sure that all products comply with existing and relevant standards.

    Based on footwear type, the global footwear market can be classified as athletic footwear and non-athletic footwear. Athletic footwear includes aerobics shoes, running shoes, sports (cross training), walking shoes, soccer shoes, tennis shoes, cricket footwear, seasonal boots and others. Non-athletic footwear includes boots, casual, formal and rugged, and waterproof footwear. Some of the athletic footwear brands include Adidas, Asics, Fila, K-Swiss, New Balance, Nike, Puma, Reebok, and Saucony.

    On the basis of consumer group, global footwear market can be segmented as men, women and kids. The growth of consumer footwear is driven by fashion trends, increasing consumer spending power and leisure goods. Based on retail distribution, the global footwear market can be classified as store based shoes and non-store based shoes. Store based shoes include specialty apparel stores, mass discounters, discount shoe stores, department stores and chains, and others. Whereas, non-store based shoes include teleshopping, internet and catalog based.

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    Some of the factors driving the growth of global footwear market include rising number of younger working population, increasing purchasing power of consumers, growth of fashion conscious population, and rising retail culture.

    The global footwear market is witnessing change in consumer preferences, led by style and innovation in design, rising application of wearable technology in footwear, advertisements, celebrity endorsements, health benefit related shoes, and others.

    The growing popularity of online footwear retail market (e-commerce) generates further growth opportunity for global footwear market. Whereas, the growing popularity of local manufacturers and pirated products in developing countries pose a challenge to the established players in the global footwear market.

    Geographically, Asia-Pacific region is the largest market for footwear. Within Asia-Pacific, where China has large-scale manufactures operating in the industry, the emerging countries have number of small level manufactures of footwear. The main factors leading to the growth of footwear market in Asia-Pacific are large population base, large pool of skilled professionals, and low cost of labor. The footwear market in India is growing at a healthy rate attributed to the rising consumer preference towards custom-made or specifically designed footwear, coupled with increasing household income.

    Some of the competitors in global footwear market include Timberland Company, Genesco, Inc., Geox SpA, Wolverine Worldwide Inc., Skechers, USA Inc, Nike Inc., Crocs, Under Armour Inc., Esprit Holdings Limited. 


  • Electric Bus Charging Station Market Demand Globally - Industry Analysis Report 2025

    Supportive government regulations and initiatives, the inclusion of electric buses in the public feet in large numbers, and increasing investment to develop infrastructure for such vehicles are influencing the electric bus charging station market positively. From valuing $6.6 billion in 2018, the market is expected to grow at a 9.7% CAGR during the forecast period (2019–2025), garnering $12.3 billion by 2025. Facilities that are used to charge electric bus batteries are termed as electric bus charging stations.

    The increasing adoption of electric buses in the public transport network is one of the major driving factors for the electric bus charging station market. For improving the public transport facilities, the major say is of the government of a country, state, or province. The implementation of the Kyoto Protocol in 2005 has shifted the focus of countries toward becoming a low-carbon economy. Therefore, governments are offering subsidies on electric buses and enthusiastically including them in transit services, and military and public transport.

    The segments of the electric bus charging station market are region, type, charger, and power. Based on type, the categories of the market are inductive, depot, and opportunity charging. In 2018, the highest sales volume in terms of installation (over 55.0%) was registered by depot charging stations due to the operational similarity of buses using such facilities to diesel buses, which makes them a preferred choice among private and public transport agencies. The highest volume CAGR is expected to be witnessed by the inductive charging category during the forecast period.

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    Immense opportunities for the electric bus charging station market growth are present in developing economies. These countries are witnessing a huge increase in their urban population, where employment opportunities are abundant. The World Bank report for 2017 said that in India and Brazil, the urban population constituted 34.0% and 86.0%, respectively, of the total. This huge urban population has necessitated the demand for a better public transportation system. Therefore, to provide transportation services in an environment-friendly way, electric buses, in large numbers, are being procured, thereby leading to a high demand for charging stations.

    Therefore, the market for charging stations for electric buses is headed toward prosperity in the forecast period as these buses are increasingly being deployed in public transport to curb vehicular pollution.


  • Scooter Sharing Market Research Report - Business Report

    Across the world, the rate of industrialization and level of urbanization are increasing, which are resulting in the growing spending power. People are now able to purchase stuff that they couldn’t earlier; a classic example is personal vehicles. While the primary purpose of buying them has always been transportation, in certain places, particularly developing countries, people buy them just as a status symbol. The booming automotive sales have led to several issues, such as air pollution, as vehicular exhaust contains many harmful gases, including sulfur dioxide, nitrogen oxides (NOx), and carbon dioxide (CO2). To tackle the issue, governments and international organizations are encouraging people to shun private transport and go for public transport instead, especially for short distances.

    As scooters take up less space on the roads as well as require smaller parking areas, the government of several countries are promoting these for regular commuting. With the increase in the number of vehicles on the roads, as a result of the increasing disposable income and population, urban congestion is also rising, with pedestrians barely getting space to cross roads in certain places. With more people opting for shared scooters, it is being expected that road congestion will come down and traffic flow will be a lot smoother than presently.

    Presently, Europe displays the highest usage rate of scooter sharing services, owing to the large number of regional cities which have such mobility programs. Though the concept originated in San Francisco, U.S., it has witnessed the fastest expansion in Europe, where such services are available in over 60 cities, currently. During the forecast period, the scooter sharing market growth in Asia-Pacific (APAC) is predicted to be the most rapid. The primary reason behind this would be the swift adoption of shared scooters in Taiwan and China.

    Hence, as more people realize the negative effects of the growing number of vehicles, they would start hiring shared scooters, at least for shorter distances, more often.


  • Global Business Analysis of Intimate Apparel Market

    The increase in customization of various undergarments is an important growth driver for the global intimate apparel market, as vendors are focusing to address the specific needs of different consumers. The increase in the customization of bras is a major demand driver of the women’s intimate clothing, which is further boosting the growth of the global intimate apparel market. The increasing economic growth, along with per capita income, and gradual increase in population are some of the other drivers, which are intensifying the growth of the global intimate apparel market.

    Intimate apparels are the undergarments worn next to the skin, under the outer garments. A corset is a type of intimate apparel, which is worn by men or women as a foundation garment to alter the body shape. Intimate apparels help to reduce the friction of outerwear against the skin and help to keep outer garments from being damaged or soiled by bodily excretions. Intimate apparels also shape the body and provide support or concealment to various body parts. They also are called intimate clothing.

    Intimate apparel are generally of two types, those that are worn to cover the waist and legs, and those that are worn to cover the torso, though there are also apparels which cover both.  An undershirt (also known as a vest) is a piece of underwear covering the torso, while underpants, drawers, and shorts cover the genitals and buttocks. The word “lingerie” is associated more with women's intimate apparel, but is categorized as a term for undergarments for both sexes. For women, core intimate apparel consists of not just bras and panties, but also thermals, hosiery, and sleep lingerie. Intimate apparel is also gaining momentum among retail stocks, as seasonal shifts take place.

    The increasing demand for bust-sized bras according to the preference of users for comfortable undergarments is one of the trends experienced in the global intimate apparel market. Hugo Boss, Calvin Klein and Emporio Armani are the top three iconic brands that men buy. In terms of women’s lingerie, Victoria’s Secret leads the sales in the market. For women, the core intimate apparel, apart from bras and panties also consists thermals, hosiery, and sleep lingerie. For men, core intimate apparel involves boxers, briefs and trunks, among which the briefs are more preferred in Europe, than in North America.

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    Europe constitutes the largest market for intimate apparel, and is therefore one of the focus areas for all major players in the lingerie market. The growth in Chinese intimate apparel market is the major driver for the growth of the Asia-Pacific intimate apparel market. North America and Europe, together account for more than two-third share of the global intimate apparel market. However, with economic growth in the South East Asian economies like India and China, the intimate apparels segment is expected to provide potential market opportunity in the future.

    Shenzhen Maniform Lingerie Co. Ltd., PVH Corp, Fruit of the Loom Inc., L Brands, Hanky Panky, BAREWEB INC., Chantelle Group, Hanesbrands Inc. are some of the competitors in the global intimate apparel market.


  • Lithium-Ion Battery Demand Globally - Automotive Business News

    Browse report overview with detailed TOC on "Automotive Lithium-Ion Battery Market Research Report: By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), Battery Type (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel-Manganese-Cobalt, Lithium Titanate Oxide, Lithium-Nickel-Cobalt-Aluminum Oxide), Vehicle Technology (Hybrid, Plug-in Hybrid, Fully Electric), Structural Design (Cylindrical, Prismatic, Pouch), Geographical Outlook (U.S., Canada, Germany, France, U.K., Norway, Sweden, Netherlands, China, Japan, South Korea, India, Mexico, Brazil) – Global Trends Analysis and Growth Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/automotive-lithium-ion-battery-market

    Rising global temperatures have become a major cause of concern, which is being seen as a consequence of burning of fossil fuels for meeting energy needs from time immemorial. Fossil fuels are made of organic matter and their burning releases a huge amount of carbon dioxide and other gases in the atmosphere. These gases are termed as greenhouse gases, as they get trapped into the atmosphere and gradually increase the temperature. This temperature change has not only caused the melting of glaciers and rising of sea levels, it has disturbed the climatic pattern as well, with frequent floods and droughts occurring at the same time in the same country/climatic zone.

    Electric and hybrid vehicles use lithium-ion (Li-ion) batteries for storing electrical energy. These batteries are rechargeable and are made of many cells. They are light weight and have a high energy density. Lithium batteries have different structural designs, such as pouch, prismatic, and cylindrical. During 2014–2018, Li-ion batteries with the cylindrical structural design sold, accounted for the maximum cumulative energy storage capacity. In fact, in the coming years as well, they would continue to amount for the highest installed energy storage capacity among all Li-on batteries of different structural designs. The automotive lithium-ion battery market is predicted to register a 15.9% CAGR during the forecast period (2019–2024).

    Many developed countries have already included electric vehicles in their transportation system and this is yet to be done in emerging economies. With growing environmental concerns, many countries across the world have announced the adoption of electric vehicles in the coming future. For instance, a Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) program, was launched by the Indian government in 2019; this is an ambitious plan of the country to popularize and adopt electric vehicles in the near future. Further, in the ASEAN region, Thailand is one of the largest consumers of electric vehicles. In an initiative to popularize these vehicles, the Thailand Board of Investment announced their plans of reducing the excise duty from 8% to 2% on electric vehicles, thereby boosting the automotive lithium-ion battery market, as storage batteries are an essential component of electric vehicles.


  • Automotive Dashboard Camera Market - Industry Demand, Trend, Growth and Forecast

    With the growing dependence on video surveillance for safety purposes, the demand for automotive dashboard camera is expected to grow during the forecast period. The growth of the global vehicle camera market is driven by the constantly increasing population and advancements in complementary metal oxide semiconductor (CMOS) image sensors used in automotive cameras. The changing focus of manufacturers towards replacement of side view mirrors with cameras is another factor behind the growth of the global market. The demand for vehicle camera is also driven due to the various advantages offered by such cameras, especially when used in the case of accidents and theft evidence. Moreover, most automotive cameras are equipped with features, such as G-sensors, global positioning system (GPS), night video recording, and loop recording and high-quality day.

    Vehicle cameras are attached to the dashboard of windshield of different vehicles. These are real video recording devices designed to record real-time videos of the outsides and insides of the vehicles. Vehicle cameras are a part of the automotive safety plans and regulations, towards which most of the nations are focused for implementation. In terms of production and sales of automotive vehicles, the passenger car segment holds the largest market share. In 2014, North America accounted for the largest share in the global vehicle camera market, due to high production volume of passenger cars and light commercial vehicles with the growing influence of New Car Assessment Program in this region.

    The advancements in various driver assistance and safety systems especially in lane departure warning system (LDWS) and blind spot detection system (BSD) are driving the growth of the global vehicle camera market. The computer-vision-based blind spot detection system uses digital camera imaging technology to sense the presence of vehicles in blind zones, as cameras mounted on, or near the outside rear-view mirror housings on both sides of the vehicle provide views of the blind zones to the system. LDWS warns the driver of a lane departure, when the vehicle's turn signal is not activated and the vehicle is travelling above a definite speed.

    The inclination of insurance companies and government towards the installation of vehicle cameras is also driving the growth of the global vehicle camera market. This is due to the fact that video recordings from the cameras of vehicles help insurance companies to block false claims. The growing partnerships with vehicle manufacturers to develop vehicle camera with superior features, such as night vision is expected to boost the growth of the market for vehicle cameras in the near future. However, the government restriction on vehicle cameras in several countries of Europe is expected to hamper the growth of the market. Autoliv Inc., Continental AG, Qrontech Co. Ltd., Ficosa International S.A., KYOCERA Corporation, Transcend Information Inc., Valeo Inc., Robert Bosch GmbH, Delphi Automotive LLP, Media Data Systems Pte Ltd. are some of the major competitors in the global vehicle camera market.


  • Europe Tire Market Growth Focusing on Trends & Innovations during the Period Until 2024

    In the present scenario, vehicles have a lifespan ranging between 11.1 and 12 years; the life span rose from 10.5 years in 2015 to 12 years in 2018. This has happened due to technological advancements, increasing government regulations, and growing competition between automakers. These factors have resulted in the improvement of the vehicle’s reliability and longevity over the years. This, in turn, has also led to people buying more small crossover vehicles and keeping their old vehicles longer than before, all across the world, including Europe. In addition to all this, the mileage of vehicles has increased significantly, due to which the chances of wear and tear of the tires have also risen. All these factors are driving the demand for tires in Europe.

    In 2018, the European tire market generated revenue of $20,037.8 million and is expected to witness a CAGR of 4.5% in the coming years. The tires for several types of vehicles are categorized into two types on the basis of design: radial and bias. The configuration of radial tires comprises overlapping steel belts under the tread and perpendicular polyester plies, which offer high integrity, ensure longer life, and facilitate smoother rides. Bias tires consist of internally crisscrossed nylon cord plies at a 30-to-45-degree angle to the tread center line, providing the tire with a rugged and tough build, in addition to increasing the sidewall puncture resistance. The demand for radial tires was more during 2014–2018 and is projected to increase significantly in the near future as well.

    European automotive tire market was consolidated in nature

    The European automotive tire market was consolidated with four major players, namely Compagnie Générale des Établissements Michelin, Bridgestone Europe NV/SA, The Goodyear Tire & Rubber Company, and Continental AG, together accounted for over 70% of the market share in 2018. Compagnie Générale des Établissements Michelin is the largest player in the market, due to the existence of an extensive dealer network across all European countries as well as the presence of a loyal customer base in France. The other major players operating in the market are Cooper Tire & Rubber Company, Pirelli & C. S.p.A., Yokohama Tire Corporation, Hankook Tire Company Limited, Nokian Renkaat Oyj, Apollo Tyres Limited, and Sumitomo Rubber Industries Limited.


  • Kick Scooter Sharing Market Gaining Momentum in Global

    The primary consumer base for kick scooter sharing services are the people between the ages of 20 and 35 years, or millennials. The preference of millennials has been quite different from the conventional methods, which is why their inclination towards shared mobility, kick scooter sharing included, is increasing. Rather than buying their own vehicles, people have started opting for shared mobility services for convenience and cost-effectiveness. Kick scooter sharing in particular has become a fun and recreational traveling option for millennials. Apart from this, this concept is also gaining popularity among tourists for exploration and sightseeing purposes. It is due to all these factors that the demand for kick scooter sharing services is growing.

    Kick scooters sharing services refer to the utilization of kick scooters for covering short distances, generally 5 km or less. In 2018, the global kick scooter sharing market generated a revenue of $ 143.4 million and is expected to reach a value of $ 4,090.5 million in 2025, advancing at a 51.3% during the forecast period (2019–2025). The two models of kick scooter sharing services are multimodal and first and last-mile. Out of these, the first and last-time services were more in demand in 2018 and are the situation is projected to remain the same in the coming years as well.

    The surging requirement for first and last-mile transportation across the world is one of the key factors driving the growth of the kick scooter sharing market. Other mobility services, such as carsharing and ride hailing, have been unable to deal properly with the problem of first and last-mile transportation. However, with the introduction of kick scooter sharing services, the problem has become manageable, as these services offer mobility options for short distances. In addition to this, these services are offered through station-less or dock-less model, which allows the users to drop off kick scooters at any place according to their convenience.

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    The emergence of kick scooter sharing services has further provided people with an effective solution to deal with the rapidly increasing road congestion in urban areas. The growing population, increased affordability of vehicles, and rising migration rate from rural to urban areas has led to a surging number of vehicles on the roads. Roads in urban areas are increasingly congested during the peak hours, which is why the inclination towards introducing alternative modes of mobility is rising. By making use of kick scooters, commuters can travel to their destination without too much hassle. Furthermore, these services can significantly reduce the traffic on roads as they take up less space.


  • Growing Trend for Battery Management System Market in Auto Sector

    The global automotive battery management system market is forecasted to witness significant growth in the coming years, owing to increasing demand for hybrid electric and battery electric vehicles. The increase in the demand for these vehicles is a result of the implementation of stringent government regulations with respect to environment degradation and government incentives in the form of subsidies, grants, and tax rebates to encourage the use of eco-friendly modes of transportation.

    Based on application, the automotive battery management system market is categorized into passenger cars, commercial vehicles, golf carts, and e-bikes. Of these, passenger cars held the largest share in the market in 2017, recording the highest sales volume. Besides, the category is expected to continue leading the market in the coming years, owing to increasing urbanization and rising disposable income of people in developing economies of the world.

    Geographical Outlook

    APAC, led by China, recorded the highest sales volume in the automotive battery management system market in 2017. The region is expected to continue holding the largest market share in the coming years, mainly on account of China’s government policies and initiatives favoring the production of automobiles, particularly electric vehicles. India and Japan are also expected to play an important role in the growth of the APAC market in the near future. The government of many Asian countries has plan to end the production and sales of gasoline and diesel vehicles in coming years. This move is expected to increase the market of electric vehicles in the region, benefiting the growth of the market during the forecast period.

    Various environmental policies and regulations coupled with governments’ support in the form of subsidies, grants, and tax rebates are the key factors driving the growth of the automotive battery management system market. This is because the sales of hybrid electric and pure electric vehicles directly affect the market demand for automotive battery management systems. Governments, across the world, are working toward reducing carbon emission levels through the complete electrification of both public and private vehicles. In addition, environmental protection and awareness agencies are encouraging the adoption of eco-friendly vehicles, globally.

    The global automotive battery management system market is witnessing a number of partnerships, collaborations, and mergers and acquisitions among major players. Apart from this, many automotive electronics providers have added battery management systems as one of their verticals to their business. Besides, the competition in the market is expected to increase in the near future. The market primarily comprises component vendors and battery management system manufacturers. Some of the key players in the market are Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Robert Bosch GmbH, and Toshiba Corporation.

    Also Read About "Electric Vehicle Battery Market" by P&S Intelligence


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