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According to Future Market Insights, the global automotive repair & maintenance services market is expected to be valued at US$ 915.88 billion in 2023. From 2023 to 2033, the market is projected to rise at a CAGR of 7.2% to reach US$ 1,850 billion. The market presents significant market opportunities for key players due to the growing trend of vehicle customization, higher disposable income levels, and increasing automotive safety regulations. Additionally, the demand for technologically advanced features further enhances the market potential for these players. Increasing adoption of vehicle diagnostic tools and higher vehicle sales is expected to drive market growth. A rise in local shop owners and the prevalence of mergers and acquisitions among key players are anticipated to create opportunities for market growth during the forecast period. Unlock growth potential with industry expertise. Request your market sample report now: https://www.futuremarketinsights.com/reports/sample/rep-gb-5335 To expand their customer base, automotive service companies are increasingly embracing artificial intelligence-based automated vehicle inspection technology for efficient vehicle inspections. A notable example is the collaboration between Scope Technology, a United States-based tech firm, and Microsoft's Azure cloud computation in February 2022. This partnership aims to develop AI-automated vehicle inspection technology that enables visual inspections in under 5 minutes, resulting in a significant cost reduction of 50%. Rising penetration of electric vehicles is further projected to drive market growth. This accelerated adoption of electric vehicles can be attributed to government initiatives and support aimed at improving environmental quality and reducing reliance on crude oil. Moreover, it is... (More)
As per Future Market Insights (FMI), the Europe automotive tire market value is projected to rise from US$ 68.4 billion in 2023 to US$ 108.7 billion by 2033. Sales of automotive tires across Europe are likely to soar at 4.8% CAGR throughout the forecast period. Rapid growth of automotive sector, adoption of electric vehicles, and innovations in tires are key factors driving the Europe market forward. Automotive tires significantly impact vehicle safety and performance. Europe automotive tire manufacturers are continuously innovating to improve tire technologies, materials, and tread patterns to enhance grip, handling, and braking capabilities. These advancements contribute to increased vehicle safety, reducing the risk of accidents and improving overall driving experience. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17433 The automotive sector is increasingly focusing on fuel efficiency and environmental sustainability. This is encouraging automotive tire manufacturers in Europe to introduce novel solutions with enhanced features. New automotive tires are designed to minimize rolling resistance, which helps reduce fuel consumption and lower carbon emissions. The development of low rolling resistance tires and eco-friendly tire materials supports the industry's sustainability goals and aligns with stricter environmental regulations. The rise of electric vehicles presents new challenges and opportunities for automotive tire manufacturers. Europe-based tire manufacturers are developing specialized tires for electric vehicles to optimize performance and range. These tires are designed to reduce rolling resistance, enhance energy efficiency, and maintain suitable load-carrying capacity for the weight distribution of EVs. The automotive sector is witnessing the integration of digital technologies into tires,... (More)
According to ESOMAR-certified Future Market Insights’ (FMI), During the projection period of 2022 to 2032, the automotive active roll control system market are anticipated to grow steadily at a CAGR of 4 percent, reaching a worth of US$ 4.5 Billion. The growing demand for safe and comfortable cars is the main driver of the automotive active roll control system market’s expansion. Automotive active roll control system (ARC) acts when a vehicle when subject to cornering forces. It can decrease the magnitude of sprung mass or roll angle of the vehicle and can improve the passenger’s comfort and vehicle dynamics. The automotive active roll control system contains two sub-systems, i.e., electric active roll control (EARC) and hydraulic active roll control (HARC). The electric unit determines the direction and magnitude of the hydraulic pressure according to the vehicle’s instability and the hydraulic unit regulates the pressure in actuators. The actuators provide the force to counteract the cornering force and reduce the vehicle’s roll angle. Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-8575 Furthermore, the automotive active roll control systems can improve the safety rating of a vehicle and minimize the probability of an accident due to rollover or instability. The new premium and sport utility vehicles (SUVs) generally have automotive active roll control system, which provides better stability and comfort. There are two main types of automotive active roll control systems available in the market, namely rotary actuators and linear actuators. Automotive Active Roll Control System Market: Dynamics Automotive active roll control system helps to improve... (More)
During the forecast period of 2022 to 2032, the global bicycle market is projected to grow steadily at a CAGR of 5.8%. The bicycle market is anticipated to increase from US$ 59,882.2 Million in 2021 to US$ 109,511.7 Million by 2032, according to FMI. The global bicycle market is experiencing significant growth, driven by several key factors. One of the primary drivers is the increasing popularity of cycling as a recreational activity, sport, and environmentally friendly mode of transportation. People are increasingly embracing cycling as a means to stay active and enjoy the outdoors. Moreover, there is a growing consciousness about health and fitness, with individuals recognizing the importance of leading an active lifestyle. Cycling is viewed as a low-impact exercise that offers numerous health benefits, including improved cardiovascular fitness, muscle strength, and weight management. As a result, the demand for bicycles is on the rise. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15196 Urbanization and traffic congestion are also contributing to the growth of the bicycle market. With the rapid urbanization of many regions, traffic congestion has become a major issue. Bicycles provide a cost-effective and efficient solution for short-distance commuting, particularly in densely populated cities. They offer a way to bypass traffic, reduce commuting time, and minimize the environmental impact of transportation. Sustainability and environmental concerns are playing a significant role in the bicycle market's growth. As people become more aware of the environmental impact of traditional modes of transportation, there is a growing preference for eco-friendly alternatives. Bicycles... (More)