Automotive on highway segment or on road application segment comprises all automotive applications that are intended for use on manmade surfaces. Passenger cars and commercial vehicles intended for passenger and freight movement ....see more
The Construction Equipment market is projected to reach USD 194.7 billion by 2030, at a CAGR of 3.8% during the forecast period. The construction equipment market is dominated by players such as Caterpillar (US), Komatsu Ltd. (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), Xuzhou Construction Machinery Group (China), and Deere & Company (US). These companies have strong distribution networks at the global level. These companies have adopted comprehensive expansion strategies and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing construction equipment market.
The global farm equipment market is projected to reach USD 136.3 billion by 2028, at a CAGR of 4.8% during the forecast period. The farm equipment market is led by established players, such as John Deere (US), AGCO Corporation (US), CNH Industrial (Netherlands), Kubota Corporation (Japan), and CLAAS KGAA (Germany). These companies have adopted several strategies to gain traction in the market. They have expanded in various geographical locations through mergers & acquisitions and expansions and entered joint ventures/collaborations with other industry players to sustain their position in the market.
The mining machinery market is projected to reach USD 32.8 billion by 2030, at a CAGR of 4.1% during the forecast period. The mining machinery market is moderately fragmented. Caterpillar Inc (US), Komatsu Ltd (Japan), Sandvik AB (Sweden), Epiroc AB (Sweden), and Liebherr (Switzerland) are the key companies operating in the mining machinery market.
The all-terrain vehicle market is projected to reach USD 3.7 billion by 2028, at a CAGR of 3.0% during the forecast period. The all-terrain vehicle market is primarily dominated by globally established players such as Polaris Inc (US), Honda Motor Co,. Ltd (Japan), BRP (Canada), Yamaha Motor Corporation (Japan), and Textron Inc. (US). These companies consistently develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth ATV market across different regions.
The Electric Bus market is projected to reach USD 48.1 billion by 2030, with a CAGR of 14.5% during the forecast period. The key players in the Electric bus market BYD (China), Yutong (China), Proterra (US), CAF (Solaris) (Spain), VDL Groep (Netherlands), and AB Volvo (Sweden). The key strategies adopted by major companies to sustain their position in the market are expansions, contracts and agreements, and partnerships.
The Asia Pacific electric three-wheeler market is projected to reach USD 892 million by 2028, registering a CAGR of 1.9% during the forecast period. The Asia Pacific electric three-wheeler market is dominated by Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Saera Electric Auto Pvt. Ltd. (India), and Kinetic Green Vehicles (India), among others. These companies manufactures and supplies electric three-wheeler to various countries globally. These companies have set up R&D infrastructure and offer best-in-class solutions to their customers.
The autonomous forklift market size is projected to reach USD 8.8 billion by 2028, at a CAGR of 13.8% during the forecast period. The autonomous forklift market is dominated by several global and regional players. Some of the manufacturers in the autonomous forklift market are Toyota Industries Corporation (Japan), Hyundai Construction Equipment Co Ltd (South Korea), Kion Group AG (Germany), Mitsubishi Logisnext Co Ltd (Japan), Jungheinrich AG (Germany), Hyster-Yale Materials Handling (US), Agilox Services GMBH (Austria), Anhui Heli Co Ltd (China), Hangcha Group Co. Ltd (China) Multiway Robotics (Shenzhen) Company (China), and Scott Automation (China).
The low speed vehicle market is projected to reach USD 15.0 billion by 2028, at a CAGR of 7.4% during the forecast period. The low speed vehicle market is consolidated. Textron Inc. (US), Yamaha Motor Co Ltd (Japan), The Toro Company (US), Deere & Company (US), Waev Inc (US), and Club Car (US) are the key companies operating in the low speed vehicle market.
The quadricycle market is projected to reach USD 35.6 billion by 2032, at a CAGR of 6.4% over the same period. The quadricycle market is dominated by global players and comprises several regional players. Some of the key players in the quadricycle market are Suzuki Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), Aixam (France), Ligier Group (Franc), Italcar Industrial S.r.l (Italy), Citroen (France), Alke (Italy), Casalini (Italy), Renault Group (France), and Bellier Automobiles (France).
The global OTR Tires market is projected to reach USD 11.4 billion in 2027, at a CAGR of 5.5% during the forecast period. The OTR Tires industry is dominated by global players and comprises several regional players, including Continental AG(Germany), Bridgestone Corporation (Japan), Michelin (France), Goodyear (US), and Pirelli (Italy).
The electric utility vehicle market is projected to reach USD 23.9 billion by 2027, registering a CAGR of 4.8% during the forecast period. The electric utility vehicle market is dominated by established players such as Polaris (US), Club Car (US), Toyota Industries Corporation (Japan), John Deere (US), and Textron (US), among others. These players have worked on providing offerings for the electric utility vehicle ecosystem. They have initiated partnerships to develop their electric utility vehicle technology and offer best-in-class products to their customers.
The forklift market is projected to reach USD 84.5 billion by 2027, at a CAGR of 7.5% during the forecast period. The forklift market is dominated by giants such as Toyota Industries Corporation (Japan), Kion Group AG (Germany), Mitsubishi Logisnext Co Ltd (Japan), Jungheinrich AG (Germany), Hyster-Yale Materials Handling (US), Hyundai Construction Equipment Co., Ltd (South Korea), Komatsu (Japan), Clark Material Handling Company (CMHC) (US), Kalmar (Finland), Cat Lift Trucks (Netherlands), Anhui Heli Co., Ltd (China), Crown Equipment Corporation (US), Doosan Industrial Vehicle (South Korea), Godrej Material Handling (Godrej & Boyce Manufacturing Co. Ltd.) (India), Ep Equipment (China), Lonking Machinery Co., Ltd (China), Linde Material Handling (Germany), Bobcat Company (Republic of Korea), Combilift (Ireland), Vallée (Canada), Narrow Aisle Inc (US), Manitou Group (France), Hoist Material Handling (US), Konecranes (Sweden) and Hangcha (China).
The SUV market is projected to reach USD 1,221.7 billion by 2027, at a CAGR of 6.6% during the forecast period. The SUV market is led by established global suppliers such as Toyota Motor Corporation (Japan), Honda Motor Co., Ltd (Germany), Hyundai Motor Company (South Korea), General Motors (US), Ford Motor Company (US), Stellantis (The Netherlands), Daimler AG (Germany), Volkswagen AG (Germany), Nissan Motor Co., Ltd (Japan), and BMW Group (Germany). These companies adopted several strategies to gain traction in the SUV market. New product development, partnerships, and expansion strategies from 2018 to 2022 helped them to innovate on its offerings and broaden their customer base
The electric construction equipment market is projected to reach USD 24.8 billion by 2027 at a CAGR of 22.0% over the forecast period. The electric construction equipment market is dominated by a few globally established companies such as Hitachi Construction Machinery (Japan), Caterpillar Inc. (US), Komatsu Ltd. (Japan), JCB (UK), Volvo Construction Equipment (Volvo CE) (Sweden).
The lawn mower market is projected to reach USD 33.6 billion by 2027, at a CAGR of 7.4% over the forecast period. The lawn mower market is primarily dominated by globally established players John Deere (US), Honda Motor Co Ltd. (Japan), The Toro Company (US), Husqvarna (Sweden), MTD Products Inc (US), and Kubota (Japan). These companies are consistently developing new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high growth lawn mower market across different regions.
The global construction & heavy equipment telematics market is expected to grow from USD 676 million in 2021 to USD 1,498 million by 2026, at a compound annual growth rate (CAGR) of 17.2% during the forecast period.Verizon (US), Trimble Inc. (US), Topcon Corporation (Japan), Hexagon AB (Sweden), and Robert Bosch (Germany)
The military truck market is expected to be worth 20,171 units by 2027, at a compound annual growth rate (CAGR) of 3.2%. during the forecast period. The global military truck market is dominated by major players such as Oshkosh Corporation (US), Rheinmetall AG (Germany), IVECO S.p.A., (Italy), TATRA TRUCKS A.S., (Czech Republic), Arquus (France), Textron Inc., (US), General Dynamics (US), and Mitsubishi Heavy Industries (Japan), and many others. These companies have strong distribution networks at a global level. Besides, these companies offer a wide range of military trucks in the market. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.
The Modular Trailer Market is expected to grow from USD 7.3 billion in 2019 to USD 10.2 billion by 2027, at a CAGR of 4.3% during the forecast period. The modular trailer market is dominated by global players and comprises several regional players as well. The key players in the modular trailer market are Goldhofer (Germany), Nooteboom Trailers (Netherlands), Faymonville (Italy), VMT Industries (India), TII Group (Germany) K-Line trailers (Canada), Tratec Engineers (India), and Anster (China).
The mining remanufacturing components market is projected to reach USD 5.0 billion by 2027 from USD 3.8 billion in 2019, at a CAGR of 3.5% during the forecast period. The mining remanufacturing components are driven primarily by the growing mining equipment parc & equipment working hours and lower cost of remanufactured mining components as compared with OE products.Caterpillar (US), Komatsu (Japan), Hitachi Construction Machinery (Japan), Liebherr (Switzerland), Epiroc (Sweden), Atlas Copco (Sweden), JCB (UK), Volvo Construction Equipment (Sweden), SRC Holdings Corporation (US), and Swanson Industries (US).
The sliding bearing market for railways is projected to reach USD 1,531 million by 2027 from USD 934 million in 2019, at a CAGR of 6.4% during the forecast period. The sliding bearing market is primarily driven by the increasing demand for high efficiency, rising railway development projects, and the increasing demand for light rail & metros due to growing urbanization.Schaeffler (Germany), SKF (Sweden), NTN Corporation (Japan), MinebeaMitsumi (Japan), Timken (US), GGB Bearing (US), and THK (Japan).
Increasing demand for special application trucks with high engine power requirement and increasing focus toward fuel economy standards have triggered the growth of the high-performance trucks market. Also, increase in demand for long-haul trucks for efficient transportation of goods has also boosted the demand for high-performance trucks globally. The high-performance trucks market, by volume, had a market size of 1.7 Million units in 2016 and is projected to reach 2.5 Million units by 2025, at a CAGR of 4.06% during the forecast period. The Tier-I suppliers profiled in the report include Cummins (US), ZF (Germany), Allison (US), and Eaton (Ireland). These systems and components are supplied to automotive OEMs such as Volvo (Sweden), Daimler (Germany), Scania (Sweden), Ford (US), GMC (US), and others.
The light duty vehicle market for North America is projected to grow at a CAGR of 5.65% during the forecast period, to reach 24540.0 thousand units by 2021, from an estimated 18647.1 thousand units in 2016. The base year for the report is 2015 and the forecast year is 2021. The increasing demand for light duty vehicles in North America, stringent emission regulations leading to light weighting/engine downsizing, and infrastructure growth has led to an increase in passenger car production in North America.
The market for natural gas commercialvehicles is gaining traction in many countries due to the combined effects of low-cost CNG and LNG and higher prices of diesel.The conversion options available in commercial vehicles make them an attractive option in terms of reduction in running costs and overall cost of ownership. The low cost of conversion and prospect of significant emission reduction will increase the penetration of alternativefuels, worldwide. The OE CNG & LNG trucks and buses market size to reach 418,889 units by 2019
The South American region has been garnering a lot of attention from automotive OEMs over the past few years. The regions vehicle production witnessed a growth of 8.23% from 2011 to 2013. The major countries contributing to the South American automotive production were Brazil, Argentina, and Columbia. The major automotive original equipment manufacturers of the region are Fiat Chrysler Automobiles, Volkswagen, Ford Motor Co., and General Motors Co. With aid from the government in the form of liberal policies and regulations, OEMs in the region have been increasing their operations in the region to cater to the domestic and export demands. The entire South American automobile production is expected to grow to 5,760.79 thousand units by 2018.
Low emission vehicles are expected to witness good growth as they are being accepted across the globe. Currently, low emission market is dominated by Full Hybrid Electric Vehicles (FHEVs) and expected to remain as market leader during the forecasted period. The market of North America is expected to be the biggest one for FHEVs. However, our research says that market for PHEVs and BEVs will develop at a faster rate due to governments’ initiatives to develop charging infrastructure in battery technology.