Latest TMR Report Explores Impact of COVID-19 Outbreak on Automotive Half Shaft Market

According to the report, the global automotive half shaft market is projected to surpass US$ 25 Bn by 2030, expanding at a CAGR of ~5% during the forecast period. The rise in global vehicle production and increase in number of vehicle service centers across the globe boost the automotive half shaft market across the globe. Automotive half shaft market is mature, as the half shaft is an integral component of vehicles.

The development and expansion of the automotive half shaft market is highly dependent on the production of vehicles across the globe, it has been observed that the production of vehicles was increasing consistently at a notable pace until 2017. However, slowdown in vehicle sales was witnessed in the 2nd half of 2018 and 2019. Additionally, outbreak of COVID-19 hampered the market due to limited availability of employees and disruption in the supply chain.

Expansion of Automotive Half Shaft Market

Vehicle production across the globe declined in 2018 and 2019 as compared to that in 2017; however, consumer preference toward utility vehicles increased. Automakers have registered increased penetration of sports utility vehicles and multi-utility vehicles globally. Furthermore, the advent of vehicle drive technology has prompted automakers to develop vehicles with all-wheel drive (AWD) and four-wheel drive (4WD). The demand for AWD vehicles is increasing, owing to a rise in the demand for stability, safety, and driving dynamics from end users. AWD vehicles offer better traction in harsh weather conditions and off-road applications, along with increase in fuel efficiency as compared to that offered by conventional drivetrains. An increase in the rate of adoption of such vehicles is directly proportional to an increase in the demand for propeller shafts.

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Furthermore, it is essential for automakers and suppliers to adopt fuel saving and emission-reduction technologies such as vehicle shafts. Lightweight shafts help automakers comply with stringent emission norms, thereby driving the demand from automakers. This, in turn, is estimated to propel the automotive half shaft market.

Segmentation of Automotive Half Shaft Market

Based on vehicle, utility vehicles is a highly attractive market segment, owing to increase in demand globally. Moreover, utility vehicles have been highly popular in North America and the Middle East; however, demand for these vehicles increased significantly since 2015, thus the segment is likely to be a key consumer of half shafts. Increasing penetration of four-wheel drive vehicles is projected to be a key factor driving the automotive half shaft market. In terms of materials used for the manufacturing of the half shafts, the steel segment followed by the aluminum segment accounted for major share of the global market. The development of various vehicles technologies and lightweight materials coupled with a rise in the demand for vehicle lighting to enhance the performance and efficiency of the vehicle is likely to drive the composite material segment during the forecast period.

Regional Analysis of Automotive Half Shaft Market

In terms of region, the global automotive half shaft market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a major share of the global automotive half shaft market in 2019, owing to the high rate of production of vehicles and rise in demand for powerful performance vehicles among rapidly developing economies in the region. The global automotive half shaft market is directly influenced by vehicle production and an increase in penetration of four-wheel drive vehicles. The demand for half shafts is likely to rise rapidly in developing regions, owing to increase in investment for industrial development and rise in demand for vehicles, due to an increase in per capita income.

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Major Players of Automotive Half Shaft Market

• Prominent players operating in the global automotive half shaft market include Advanced Composite Products & Technology Inc., American Axle & Manufacturing, Inc., Bailey Morris Limited, D & F PROPSHAFTS, Dana Limited, GKN Plc., HYUNDAI WIA CORP., IFA Group, JTEKT Corporation, Neapco, Nexteer Automotive Group Ltd., and Wilson Drive Shaft

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Agriculture Equipment Market With (Covid-19) Impact Analysis

 

• Agriculture equipment is any type of machinery that can be used in the farm for farming. Different types of agriculture equipment utilized for farming include tractor, harvester, and cultivator. A farm tractor is employed to pull or push agricultural machinery for tilling, ploughing, harrowing, and other tasks.
• Agriculture equipment helps reduce human effort and enhance crop yield in less time. Automatic and semi-automatic agriculture equipment reduce the labor required for work, which in turn reduces the labor cost. This is likely to boost the agriculture equipment market across the globe.

Key Drivers of Agriculture Equipment Market

• Rise in rate of adoption of advanced technology in agriculture equipment, including autonomous tractor and robotic system that assist handling of equipment and increase the accuracy of farming, is anticipated to propel the agriculture equipment market across the globe. Increase in integration of artificial intelligence in agriculture equipment to enhance their functionality is likely to offer significant opportunity for manufacturers of agriculture equipment across the globe.

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• Rise in use of Internet of Things (IoT) in machinery and equipment is likely to boost the agriculture equipment market. Rise in development in technology including electric driverless tractor and also fleet telematics, which takes data from the equipment that can be utilized to maintain vehicle data, is anticipated to boost the agriculture equipment market across the globe.

Asia Pacific & Europe to hold significant share of global agriculture equipment market

• Asia Pacific is projected to hold a major share of the global agriculture equipment market due to rapid expansion of the economy and a rise in population across the region. Increase in government initiatives and rise in productivity across the region is likely to propel the agriculture equipment market across Asia Pacific. Rise in consumer trend toward mechanization in agriculture is likely to propel the agriculture equipment market across the region.
• Followed by Asia Pacific, Europe is projected to account for a significant share of the global agriculture equipment market due to an increase in adoption of technology including robotic systems. Europe is home to major agriculture equipment manufacturers who have advanced research and development facilities regarding agriculture equipment, which is anticipated to boost the agriculture equipment market across Europe.

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Key Players Operating in Agriculture Equipment Market

The global agriculture equipment market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the agriculture equipment market are:

• AGCO Corporation
• Alamo Group Inc.
• ARGO SpA
• Bucher Industries AG
• CNH Industrial NV
• Deere & Company
• Escorts Ltd

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Automotive Engine Ring Market Comprehensive Analysis By 2027

 

• Engine rings are expandable rings that provide a seal between the piston and cylinder wall. Engine rings are generally made of cast iron, which possess elasticity that enables them to regains their original size and shape after removal of load.
• Engine rings generally seal the combustion chamber in an engine cylinder, where the gases are compressed at high pressure. These rings help conduct the heat from the piston to the cylinder wall and return oil to the crankcase. Engine rings may vary in size and dimensions depending on engine design and cylinder material.

Key Drivers of Automotive Engine Ring Market

• Engine rings transfers the heat generated in the combustion chamber to the cylinder walls, which comprises approximately 70% of the total heat generated in the engine. The National Highway Traffic Safety Administration USA mandates automotive manufacturers to increase the fuel efficiency of their vehicles. Engine rings can withstand at high temperature and pressure of combustion gases.
• Rise in demand for lightweight engines is estimated to play key role in the engine rings market. Light weight engines entails reduction in the size of the components including piston, engine rings, and cylinder head. Pistons of aluminum alloy and engine rings of stainless steel contribute significantly toward reducing the weight of the engine.
• Engine rings seal the combustion chamber from the cylinder wall, which also prevents the oil from entering into the cylinder wall. If the oil flows into the cylinder wall, it will mix with the burnt gases, which in turn would increase the emission of gases including Nitrogen oxide (NOX), Carbon Monoxide (CO) causing air pollution. Thus, engine rings help minimize air pollution. This results in optimal fuel consumption, which in turn is estimated to boost the engine rings market.

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Asia Pacific to Hold Significant Share of Global Automotive Engine Ring Market

• The vehicle market in Asia Pacific witnessed significant expansion, around 86 million cars were sold, globally, in 2018. China accounts for nearly 30% of global vehicles sales India is the fourth-largest car market in the world, which was finally able to outsell Germany.
• Engine rings market have significant growth in two wheeler market, two wheeler uses lightweight engines thus will boost engine rings market. In 2018, two wheeler total sales is about 62 million, which was 1.8% higher than the previous year. Asia Pacific includes countries such as India, China, Indonesia, and Vietnam, which witnessed significant increase in sales of 2-wheelers as well as passenger and commercial vehicles. All the factors mentioned above are projected to propel the engine rings market.

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Key Players Operating in Automotive engine ring Market:

The automotive engine ring market is witnessing continuous expansion, as a large number of players operates in the market. A few of the key players operating in the automotive engine ring market are:

• MAHLE GmbH
• Federal Mogul Corporation
• Grant Piston Rings
• Grover Corporation
• Hunan ZhengYuanDongli Parts Co., Ltd.
• Anhui Huan Xin Group Co., Ltd.
• Samkrg Pistons & Rings Ltd.
• India Pistons & Rings Ltd.

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Automotive Backup Cameras Market Sales Revenue, Grow Pricing and Industry Growth Analysis

 

• Rise in demand for reduction in vehicle crashes has prompted automakers to increasingly adopt automotive backup cameras in their vehicles, which in turn is driving the global automotive backup camera market. As per National Highway Safety Transportation Agency (NHTSA), around 15,000 injuries and 210 fatalities occur from vehicle backup accidents every year. This has resulted in enactment of regulations that make installation of backup cameras mandatory in vehicles, which in turn is also driving the global automotive backup cameras market.

Key drivers of global automotive backup cameras market

• Regulations enacted by government authorities and regulatory bodies are mandating vehicle manufacturers to install rearview imaging technology in their vehicles, which fuels the demand for automotive rearview backup camera systems. For instance, National Highway Traffic Safety Administration (NHSTA), USA requires all vehicles manufactured post May 1, 2018 to install a rearview camera that can show 10X20 feet area in the rear of the vehicle. The HUD display in the vehicle displays a virtual grid on screen using the image sensors incorporated in backup cameras. These grids enable the vehicle driver to backup without endangering vehicle safety.

• Several companies have developed dual backup camera systems that incorporate both front view and rearview backup cameras in a single system. For instance, Toguard Electronics Co. has developed a dual backup camera system. Both rear and front cameras have different resolutions and dual lens systems with parking guidelines to help the vehicle driver while parking.

• Rise in demand for comfort and luxury in vehicles is driving the global automotive backup cameras market. Automakers have started providing luxury features including automotive backup cameras in their lower end model as well in order to have a competitive edge and increase the number of vehicle sales. For instance, Chevrolet Trax, Chevrolet Colorado, Mazda MAZDA3, and Toyota Corolla have pre-installed backup cameras. Therefore, increasing adoption of backup cameras by automakers is expected to drive the global automotive backup cameras market.

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Passenger vehicle segment to account for significant share of global automotive backup cameras market

• Demand for passenger vehicles was higher than that for commercial vehicles in 2019, which in turn led to higher sales of passenger vehicle. Furthermore, a rise in preference toward vehicle security features is prompting automakers to install safety systems in vehicles. Automotive backup cameras enable vehicles to record videos continuously, which can be used to identify vehicle theft and vehicles involved in crashes.
• Backup cameras installed at the rear ends can guide the vehicle driver while parking the vehicle in reverse. All these factors boost the demand for automotive back up cameras and subsequently, drive the global market for automotive cameras.

Asia Pacific to dominate global automotive backup cameras market

• Japan, China, and India in Asia Pacific have presence of major automakers and aftermarket players in the automotive industry. Therefore, the region witnesses intense competition among automakers and aftermarket players. Demand for safety systems in vehicles, such as automotive backup cameras that help drivers to maneuver in the reverse direction and reduce vehicle crashes, is rising.
• Legislations enacted by various governments of various countries and organizations in Asia Pacific are mandating automakers to increase integration of safety features in their vehicles. For instance, SIAM India mandates automakers in India to install safety systems in their vehicles. This, in turn, fuels the demand for automotive backup cameras. All the factors mentioned above are driving global automotive backup cameras market in Asia Pacific.

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Key players operating in global automotive backup cameras market:

The global automotive backup cameras market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive backup cameras market are:

• AUTOVOX
• Continental AG
• Denso Corporation
• Magna International Inc.
• Pruveeo
• Rear View Safety, Inc.
• Robert Bosch GmbH
• Shenzhen chuang'an Zhuo Technology Co. Ltd.
• STONKAM CO.,LTD.

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Automotive Plugs Market Growth, Technology and Top key vendors

 

• Rising use of electrical components and systems in vehicles, attributed to increasing demand for comfort and luxury, enhanced vehicle performance, and utility features, is a key driver of the automotive plugs market
• Automotive plug, or male pin connector, is part of an automotive connector that engages with a socket or female connector. It is utilized in the vehicle to connect electrical terminals of several electrical systems by engaging with the socket of another electrical terminal/ system.

Key drivers of global automotive plugs market

• Rising concern for occupant safety in a vehicle in conjunction with safety-oriented government initiatives is driving the demand for a reliable automotive plug to connect various vehicle systems. For instance, government regulations compel automakers to incorporate seat belts and airbags in a vehicle. These safety systems require a connection system consisting of a retainer and safety restraint system connector, which is achieved through automotive plugs. Therefore, increasing demand for automotive plugs is directly influenced by increasing adoption of automotive safety systems, which in turn is driving the global automotive plugs market.
• Increasing demand for vehicle comfort and utility systems is anticipated to increase the adoption of power windows, power mirrors, HVAC, and comfort actuators. These systems are connected to ECUs, MCUs and various ICs through vehicle body electronics by using automotive plugs. Thus, increase in demand for vehicle comfort and utility fuels the demand for automotive plugs, which in turn, propels the global automotive plugs market.

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Concerns for functional reliability and durability of automotive plugs to hinder global automotive plugs market

• Sealed automotive plugs are placed under the hood of automobiles, while unsealed automotive plugs are placed in the vehicle cabin. Sealed plugs must have the capacity to withstand engine shocks as well as high and very low temperatures. Therefore, the global automotive plugs market is anticipated to be hindered by functional reliability and durability concerns of automotive plugs.

Asia Pacific to dominate global automotive plugs market

• Major vehicle manufacturers including Tata Motors, Dongfeng Motors, Nissan Motors. KIA Motors, Suzuki Motors, Subaru Corporation, and Mahinda and Mahindra Motors are based in Asia Pacific. These automakers are consistently focusing on improvement in vehicle technologies and investment in research and development activities that are aimed at enhancing vehicle economy and vehicle performance.
• Furthermore, Japan, China, South Korea, and India are among the top consumers of two-wheeler and three-wheeler vehicles globally. Moreover, these countries have well-established supply chain and presence of aftermarket players in the automotive industry. Therefore, the region witnesses an intense competition among automakers and aftermarket players, which in driving the automotive plugs market. All the factors mentioned above are propelling the automotive plugs market in Asia Pacific.

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Key players operating in global automotive plugs market:

The global automotive plugs market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive plugs market are:

• TE Connectivity
• Mouser Electronics, Inc.
• Waytek, Inc.
• RS Components Ltd.
• Japan Aviation Electronics Industry, Ltd.
• Speed Technology Pty Ltd
• Autosparks
• Delphi Automotive
• Yazaki Corporation
• Sumitomo Electric Industries Ltd.
• Japan Aviation Electronics Industry, Ltd.

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Automotive Studless Tires Market Size, Business Revenue Forecast, Leading Competitors And Growth Trends

 

• Automotive studless tires are designed to provide traction and control even while driving in wet, icy, and snowy conditions. Driving a vehicle in winter, or on snowy roads, is difficult, and the best way to ride on such unpredicted winter roads is to install studless tires. Studless tires are made of superior rubber compounds and possess better tread design, as compared to tires that have metal inserted in their treads.
• Developments in rubber compounding technology help studless tires maintain their flexibility in freezing temperatures and allow tires to maintain traction on snowy roads. Studless tires have deeper tread depths, as compared to that of any other tires, which in turn enables studless tires to effectively disperse snow under them. 

Key Drivers of Global Automotive Studless Tires Market

• Demand for studless tire is increasing, as several countries have banned the usage of studded tires owing to high level of dust emission attributed to these tires. This, in turn, is projected to boost the automotive studless tires market. Rise in demand for vehicles across the globe is a key factor driving the global automotive studless tires market. Most countries across Europe experience harsh winters, which makes it difficult to drive on icy roads. Consequently, vehicles need to be fitted with studless tires to skidding and vehicle crashes owing to the snowy road conditions. This is anticipated to further propel the automotive studless tires market in Europe.
• Slippery road and snowy conditions can increase fuel consumption of vehicle by 15 % as compared to that on dry or clean road surfaces. Studless tires can reduce fuel consumption, as they offer superior traction on slippery or snowy roads, which is estimated to boost the global automotive studless tires market. 

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Europe and Asia Pacific to hold prominent share of global automotive studless tires market

• Europe is projected to hold a major share of the global automotive studless tires market as major areas in the region experience severe winters. Moreover, Europe has presence of major original equipment manufacturers as well as Tier-1 suppliers including Continental Tires and Michelin Tires who are leading companies that have major research and development facilities for studless tires. This, in turn, is estimated to propel the automotive studless tires market in Europe.
• Followed by Europe, Asia Pacific is projected to account for a major share of the global automotive studless tires market due to an increase in vehicle production and sales. China and Japan in Asia Pacific witness harsh winters, which in turn is anticipated to boost the automotive studless tires market in China and Japan. 

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 Key players operating in global automotive studless tires market

The global automotive studless tires market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive studless tires market are:

• Bridgestone Corporation
• Nokian Tires Plc
• Continental Tires LLC
• Goodyear Tire & Rubber Company
• Hankook Tire Co. Ltd
• Cooper Tire & Rubber Company
• Pirelli & C S.p.A
• Yokohama Rubber Co. Ltd
• Apollo Tires Ltd
• Michelin Tires
• Dunlop Tires

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ECU Market for Autonomous Vehicles: Key Facts and Forecast Predictions Presented Until 2030

 

• Electronic control unit (ECU) is designed to regulate and carry out the operations of the vehicle’s electronic systems including anti-lock brake system, lane deviation warning system, and fuel injection setup system. The ECU takes inputs from different parts of the vehicle, depending on their function. For instance, the airbags receive inputs from the crash sensor.
• Introduction of connected vehicles, where the ECU is an integral part, boosts the ECU market for autonomous vehicles. In 1970, the ECU was introduced in the automotive industry, which marked a revolution in the automobile industry.

Key Drivers of ECU Market for Autonomous Vehicles

• Rise in vehicle production integrated with growing safety standards across the globe is likely to propel the automotive ECU market for autonomous vehicles. Increase in integration of artificial intelligence in vehicles is prompting vehicle manufacturers to develop autonomous vehicles. However, the ECU plays a vital role in the functioning of advanced safety features such as anti-lock braking system, airbags, and the vehicle control system. This is anticipated to boost the ECU market for autonomous vehicles across the globe.
• Rise in integration of infotainment systems in vehicles is likely to propel the ECU market for autonomous vehicles across the globe. Rise in vehicle electrification across the globe is likely to boost the ECU market for autonomous vehicles across the globe. Increase in adoption of advanced features in vehicles, including traffic control system, lane departure warning system, and blind spot monitoring system, is anticipated to propel the ECU market for autonomous vehicles across the globe.

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Europe & Asia Pacific to hold significant share of global ECU market for autonomous vehicles

• Europe is projected to account for a major share of the global ECU market for autonomous vehicles due to a rise in the demand for autonomous vehicles. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH, Denso Corporation, and Continental AG who have major facilities that undertake research & development on the ECU, which is likely to propel the ECU market for autonomous vehicles across the globe.
• Followed by Europe, Asia Pacific is projected to hold a significant share of the global ECU market for autonomous vehicles due to an increase in sale of vehicles across the region. Presence of major automotive parts manufacturing industries across China, India, and Japan is anticipated to propel the ECU market for autonomous vehicles across Asia Pacific.

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Key Players Operating in ECU Market for Autonomous Vehicles

The ECU market for autonomous vehicles is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the ECU market for autonomous vehicles are:

• Advics Co.Ltd.
• Altera Corporation
• ZF Friedrichshafen
• Robert Bosch GmbH
• Denso Corporation
• Continental AG
• Valeo
• Panasonic Corporation
• Texas Instrument
• Pioneer Corporation

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