Luxury Shuttle Bus Market Comprehensive Study Explores Huge Growth In Future

According to the report, the global luxury shuttle bus market is projected to surpass US$ 6 Bn by 2030, expanding at a CAGR of ~9% during the forecast period, owing to the increase in adoption of public transport services and the rise in the number of shuttle services among various sectors such as aviation, corporate, and tourism. The global luxury shuttle bus market is prominent in most developed countries; however, increasing influence of governments to adopt public transportation services for commute is anticipated to drive the market for luxury shuttle buses.

Expansion of Luxury Shuttle Bus Market

Transportation services have been expanding, as governing bodies have been consistently emphasizing on the adoption of bus services for daily commute across the globe, including North America, to fight against air pollution and traffic congestion issues. The rise in awareness among society about the aforementioned issues is driving the preference for a large bus instead of using multiple smaller vehicles.

The demand for luxury shuttle buses is primarily increasing for sightseeing, daily commute for workplace, and interstate travel. Luxury shuttle buses are integrated with amenities and hence, are as comfortable as a personal vehicle. The increase in trend of weekend trips has significantly fueled the luxury shuttle bus market. Additionally, smart move by travel service providers to roll out luxury bus services on the most popular weekend routes around popular cities is further propelling the luxury shuttle bus market.

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Luxury Shuttle Bus: Market Segmentation

In terms of application, the demand for luxury shuttle bus has been significantly high on longer routes, which is generally preferred by tourist. This led the tourism coaches segment to hold a major share of the global market. The market for luxury buses and coaches has been volatile; however, an increase in focus on expansion of public transportation system and a rise in investment by government bodies to promote public transport system are likely to propel the global luxury shuttle bus market.

Regional Analysis of Luxury Shuttle Bus Market

The global luxury shuttle bus market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe witness high penetration of luxury shuttle buses, owing to high demand among consumers and presence of good transportation infrastructure for bus travel; however, Asia Pacific is a prominent market for luxury shuttle bus, owing to high production and higher consumer base in the region.

China is a notable market for luxury buses as all the leading manufacturers have high capacity expansion in the country. On the other hand, China is a leading manufacturer of electric buses across the globe, owing to the presence of all resources and high focus on vehicle electrification in the country. The market for the luxury shuttle bus is likely to expand at a higher growth rate in developing countries due to the increase in per capita income and improvement in lifestyle, which ultimately is leading to higher spending on luxury and leisure, thus driving the demand for luxury shuttle buses.

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Luxury Shuttle Bus Market: Key Players

Prominent players operating in the global luxury shuttle bus market include ARBOC Buses, CNH Industrial N.V., Daimler AG, Federal Coach, Forest River, Grech Motors, Isuzu Motors Ltd., Kamaz, Krystal Shuttle Buses, KSIR Bus, LGE Coachworks, Proterra, Scania AB, Tata Motors, Toyota Motor Corporation, and Volkswagen AG.

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Front-end Module Market Size Strong Revenue and Competitive Outlook

According to the report, the global front-end module market is projected to surpass US$ 100 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The global front-end module market is estimated to shrink during 2020 due to COVID-19 and expand at a steady pace post 2021. Asia Pacific, Europe, and North America, accounted for a combined share of 96% of the global front-end module market in 2019.

Expansion of Front-end Module Market

Minimal down payments and attractive EMI offers have made vehicles increasingly affordable. This has fueled the demand for vehicles, leading to increase in their production, thus boosting the front-end module market. Lower labor rates and manufacturing cost in developing countries coupled with growing domestic demand are boosting the front-end module market. The automotive industry in Mexico, Brazil, and India is witnessing rapid expansion, which is projected to drive the global front-end module market.

A comprehensive auto-insurance, which covers own vehicle damage in addition to third-party liability, is gaining momentum globally. Accidental cover of own damage is boosting the replacement demand for front-end modules. Increasing replacement demand due to consumer awareness, growing affordability, and own damage cover due to comprehensive insurance policy are estimated to drive the front-end module market globally.

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Based on component, in terms of volume, forward lighting, radiator & cooling fan, bumpers, and fenders segments held key share of the global front-end module market. However, in terms of revenue, the radiator & cooling fan segment accounted for a notable market share, owing to the higher price of the single/dual cooling fan and radiator. The active grille shutter segment held a negligible share of the global front-end module market in 2019; however, it is projected to expand at a high growth rate during the forecast period, owing to rise in demand for fuel-efficient vehicles.

In terms of vehicle type, the passenger vehicle segment held a dominant share of the global front-end module market. Passenger vehicles contribute to higher production volume compared to commercial vehicles across all regions. Under the passenger vehicle segment, utility vehicles such as SUVs /MPVs are witnessing high consumer demand worldwide and contribute to demand for front-end modules.

Regional Analysis of Front-end Module Market

In terms of region, the global front-end module 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 front-end module market with China majorly contributing to the demand. The market in Asia Pacific is estimated to expand further, with India and ASEAN contributing to the demand. Asia Pacific is followed by Europe and North America, in terms of revenue, of the global front-end module market.

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Major Front-end Module Market Players

Prominent players operating in the global front-end module market include Magna International Inc., MAHLE GmbH, Faurecia SA, DENSO Corporation, Calsonic Kansei Corporation, HBPO Group, Plastic Omnium, Hyundai Mobis, Samvardhana Motherson Group, Valeo, Flex-N-Gate Corporation, RTP Company, and SL Corporation.

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Automotive Alloy Wheels Market Expected to Witness High Growth over the Forecast to 2027

According to the report, the global automotive alloy wheels market is projected to reach US$ 24.3 Bn by 2027, expanding at a CAGR of ~6% during the forecast period. The global automotive alloy wheels market is expected to record a growth of ~6% owing to an increased demand for aesthetics appeal in vehicles.

Alloy wheels are slowly replacing steel wheels, as they offer better heat dissipation, performance, and are lightweight. The global automotive alloy wheels market is mature in developed countries and is at the nascent stage in developing countries. Economic growth witnessed in Asia Pacific, Latin America, and Middle East & Africa is projected to boost the demand for mobility among the population, which in turn is estimated to propel the global automotive alloy wheels market.

Expansion of Automotive Alloy Wheels Market

Cast and forged alloy wheels are preferred in SUVs over steel wheels. Increasing penetration of SUVs witnessed in the last five years indicate a potential market for alloy wheels. SUVs have been early adopters of alloy wheels due to better off road handling capabilities, improved steering, and reduced unsprung weight of the vehicle. Electric vehicles are gaining popularity globally. Electric vehicles must be lightweight to offset the weight of the battery. Consequently, a rise in sales of electric vehicles is projected to boost the sales of alloy wheels. Moreover, rise in car ownership among youth consumers is driving the demand for aesthetically appealing wheels such as alloy wheels.

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Automotive Alloy Wheels Market: Segmentation

Based on OEM, the passenger vehicle segment held a leading share of the global automotive alloy wheels market in 2019. Consumers are increasingly opting for personal vehicles over commercial transport vehicles, which in turn is boosting sales of passenger vehicles. Furthermore, a range of vehicles including mini-compact, mini-vehicle, compact, SUVs, and sports cars cater to the demand for comfort, luxury, and efficiency among passengers, enabling lower income consumers to afford a passenger vehicle. This, in turn, is anticipated to drive the passenger vehicle segment of the global automotive alloy wheels market.

Majority alloy wheels manufactured and installed in a vehicle have the same lifespan as that of the vehicle. Therefore, the OEM segment is anticipated to hold a notable share of the global automotive alloy wheels market.

Regional Analysis of Automotive Alloy Wheels Market

In terms of region, the global automotive alloy wheels market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The global automotive alloy wheels market was dominated by Europe, and the region held nearly 30% share of the global market in 2019. This is majorly due to higher rate of production of premium and luxury vehicles and higher consumer demand for alloy wheels in the region. Asia Pacific followed Europe, in terms of share of the global automotive alloy wheels market, followed by North America. Counties in Africa and Latin America are emerging markets for vehicles and offer lucrative opportunities to OEM players for investment.

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Prominent players operating in the global automotive alloy wheels market include ARCONIC, BBS Alloy Wheels, BORBET GmbH, CITIC Dicastal Wheel Manufacturing Co., Enkei, Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd., Fuel Off-Road Wheels, MAXION Wheels, MHT Luxury Wheels, RONAL GROUP, TSW Wheels, Superior Industries International, Inc., and WHEELPROS LLC.

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Automotive Battery Thermal Management System Market To Register a Strong Growth Rate and Huge Profits

According to the report, the global automotive battery thermal management system market is expected to expand at a CAGR of 38.5% during the forecast period. Government incentives and subsidies, expansion of charging infrastructure, increase in battery life and performance, surge in awareness about global temperature rise, development of fast electric vehicle chargers, and decline in electric vehicle prices are primarily driving the electric vehicle sector, which in turn is propelling the automotive battery thermal management system market.

Batteries are the power source for electric vehicles and their performance, life, and efficiency varies according to temperature. Thus, the battery thermal management system is an essential part of electric vehicles, as it maintains adequate temperature of the battery in order to enhance battery life and reduce lifecycle cost. According to studies, battery life reduces by two months when the temperature of battery increases 1ºC in the range of 30ºC to 40ºC. Therefore, the battery thermal management system plays a vital role in increasing battery lifespan by maintaining adequate temperature of the battery and subsequently, the demand for this system is expected to increase during the forecast period.

Active battery thermal managements systems are widely utilized, owing to their simplicity and inexpensiveness. In an active battery thermal management system, coolant is force circulated through pipes surrounding the battery cells. The coolant used in a battery thermal management system can be air or liquid. Liquid-based systems are popular, owing to their cost-effectiveness and ability to maintain stable battery temperature. The air-based active battery thermal management system is simple and inexpensive; however, it becomes less effective at higher temperatures such as 40ºC to 55ºC.

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The 12 volt batteries are widely utilized in electric vehicles. These batteries are inexpensive and compact; therefore, several manufacturers use these in electric vehicles. The 12 volt segment of the global automotive battery thermal management system market held a prominent share of the market, in terms of revenue, in 2018. However, the newly developed 48 volt batteries, which have larger power capacity and faster charging speed, owing to their lower power capacity and longer charging time, are gaining popularity. The 48 volt and higher capacity battery segment of the global automotive battery thermal management system market is anticipated to expand at a prominent CAGR of 53.91% during the forecast period.

Regional Analysis of Automotive Battery Thermal Management System Market

In terms of region, the global automotive battery thermal management system market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held a leading share of the battery thermal management system globally. China accounted for a large number of passenger electric vehicles sold globally. Government initiatives, well-developed electric vehicle charging infrastructure, presence of global electric vehicle manufacturers, increase in per capita income, and raised awareness about the benefits of electric vehicles are fueling the electric vehicle sector in China. Japan is also a prominent market for electric vehicles. India, Australia, and countries in ASEAN are emerging areas for electric vehicles. Therefore, Asia Pacific held about 44% share of the global market, in terms of revenue, in 2018. Its share is anticipated to rise during the forecast period.

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Prominent players operating in the global automotive battery thermal management system market include Continental AG, LG Chem Ltd., Robert Bosch GmbH, Valeo, Calsonic Kansei Corporation, GENTHERM, Dana Incorporated, MAHLE GmbH, SAMSUN SDI CO. LTD., VOSS Automotive GmbH, CapTherm Systems Inc., Hanon Systems, and Grayson.

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Automotive Suspension Parts Market SWOT Analysis & Technological Innovation and Future Prospects

According to the report, the global automotive suspension parts market is projected to surpass ~US$ 13 Bn by 2030, expanding at a CAGR of ~3%, owing to an increase in affordability for vehicles among consumers and transition of people into middle and upper middle income groups.  The global automotive suspension parts market is mature; however, developments on improving performance of shock absorbers are still boosting the market worldwide.

Expansion of Automotive Suspension Parts Market

The expansion of the automotive industry in East Asia and Latin America is driving the global automotive suspension parts market. The automotive industry in East Asia has been expanding since the last decade. The auto industry in Japan is highly mature; however, China and South Korea have made rapid advances in terms of volume production of vehicles and subsequently, drive the global automotive suspension parts market.

Improvement in infrastructure and easy availability of finance in East Asia and Latin America are likely to boost sales of vehicles and consequently, drive the global automotive suspension parts market. Increase in average age of vehicles, globally, is boosting the aftermarket demand for suspension parts. Average age of vehicles in the U.S. has reached 11.8 years. Owning of vehicles for prolonged periods is set to boost the demand for maintenance and thereby, boost the sales of suspension parts.

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Segmentation of Automotive Suspension Parts Market

In terms of technology, the hydraulic segment dominated the global automotive suspension parts market in 2019. Hydraulic technology is a conventional technology and is highly popular among entry and mid-range vehicles, which is attributable for its higher market share in the automotive suspension parts market. Increasing trends toward utility vehicles and luxury vehicles in conjunction with a rise in the demand for comfort and luxury among consumers globally is anticipated to propel the global automotive suspension parts market.

Regional Analysis of Automotive Suspension Parts Market

In terms of region, the global automotive suspension parts market has been segregated into North America, Europe, East Asia, South Asia Pacific, Middle East & Africa, and Latin America. East Asia held a significant share of the global automotive suspension parts market in 2019, owing to high production of vehicles and rising demand for premium and luxury vehicles among rapidly developing economies in the region. The global automotive suspension parts market is directly influenced by vehicle production and sales. Europe followed East Asia, in terms of revenue, in the global automotive suspension parts market, while Europe was followed by North America in terms of share of the global market.

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Prominent players operating in the global automotive suspension parts market include Brinn Inc., BWI Group, Continental AG, Datsons Engineering Works Pvt. Ltd., DMA Sales, Inc., Duroshox, Endurance Technologies Limited, FCS Auto, Halla Holdings Corp., Hitachi Automotive Systems, Ltd., Kobe Suspensions, KYB, LEACREE Company, Magneti Marelli S.p.A., QBAutomotive, Ride Control, LLC, Robert Bosch GmbH, Samavardhana Motherson Group, Tenneco Inc., and ZF Friedrichshafen AG.

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Automotive Wheel Alignment Service Market Expected to Witness High Growth over the Forecast to 2030

According to the report, the global automotive wheel alignment service market is projected to surpass US$ 2.5 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The rise in vehicle sale across the globe and increase in the number of vehicle service centers across the globe boost the automotive wheel alignment service market across the globe. The adoption of EVs in the commercial transportation segment, owing to numerous benefits offered by them over conventional (IC-engine) vehicles, is likely to be a trend to watch for in the near future.

Furthermore, policies regulating the adoption of EVs in developed countries are expected to drive their adoption as electric light duty vehicles, which, in turn, is likely to increase the sale of EVs across the globe and consequently, drive the global wheel alignment service market during the forecast period.

The automotive wheel alignment service market is anticipated to expand during the forecast period, owing to increase in affordability of vehicles among consumers and transition of people into middle and upper middle income groups. For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles. This is anticipated to boost the automotive wheel alignment service market across the globe.

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Expansion of Automotive Wheel Alignment Service Market

The change in trade policies by the Trump Administration, such as withdrawal of trade agreement with South Korea and continuous fluctuation on tariff on import and export to China, is likely to keep the market volatile during the forecast period; however, the U.S.-China trade has witnessed a positive turnaround and the relation between countries is anticipated to improve. A surge in trade volume, owing to rising bilateral trade among countries is projected to boost the automotive wheel alignment service market during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to Yuan 15.66 Trn. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN. Exports of China to the U.S. further rose by 15.2% year-on-year.

Based on vehicle, the automotive wheel alignment service market has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. This is primarily due to the rise in the production of passenger vehicles across the globe. Rise in ride hailing services, where demand for passenger vehicle is high, is likely to propel the automotive wheel alignment service market across the globe.

In terms of service provider, the OEM segment dominated the market, owing to the adoption of in-house testing facilities to improve vehicle performance and help boost vehicle production, which propels the automotive wheel alignment service market.

Regional Analysis of Automotive Wheel Alignment Service Market

In terms of region, the global automotive wheel alignment service market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive wheel alignment service market in 2019. It is anticipated to hold a leading share during the forecast period due to rise in the production and sales of vehicles in China and countries in ASEAN. Followed by Asia Pacific, Europe also held a significant share of the automotive wheel alignment service market due to the presence of a large number of tier-1 suppliers who have advanced wheel alignment testing machines, which, in turn, is likely to boost the automotive wheel alignment service market across the globe.

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Major Players in Automotive Wheel Alignment Service Market

Prominent players operating in the automotive wheel alignment service market include 3M, BMW AG, Bridgestone Corporation, Continental AG, DRiV Incorporated, Ford Motor Company, General Motors, Mahindra & Mahindra Ltd., Mercedes Benz, MRF, Robert Bosch GmbH, TBC Corporation, The Goodyear Tire and Rubber Company, Tire Prose Francorp, Toyota Motor Corporation, and Volkswagen AG.

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Automotive Speaker Market Set to Register healthy CAGR and Competitive Outlook to 2030

According to the report, the global automotive speaker market is projected to surpass US$ 9.6 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Rise in integration of navigation system and use of electronic components in vehicles, and growing integration of mobile and multimedia devices are likely to fuel the demand for speakers during the forecast period. The increase in demand for premium and luxury vehicles that are fitted with good audio systems is likely to fuel the automotive speaker market across the globe. The surge in adoption of autonomous vehicles and ADAS features in vehicles is anticipated to boost the automotive speaker market across the globe. For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles. Safety features and comfort features in vehicles with good audio systems are boosting sale of automotive speakers, which, in turn, is likely to propel the automotive speaker market across the globe

Expansion of Automotive Speaker Market

The surge in trade volume, owing to rising bilateral trade among countries is projected to boost the automotive speaker market during the forecast period. China witnessed an increase in both general trade volume and proportion escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.

Based on vehicle type, the global automotive speaker market has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. This is primarily due to the rise in the production of passenger vehicles across the globe. Rise in integration of electronic systems in vehicles is likely to boost the automotive speaker market across the globe.

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High rate of adoption of advance features and technologies in passenger vehicles as compared to that in commercial vehicles can be attributed to a significant share held by the passenger vehicle segment in the global automotive speaker market. In terms of position, the dashboard segment account for a significant share of the global automotive speaker market. Speakers are easy to install in the dashboard as compared to that in other positions. Speakers installed in dashboards provide good sound quality. This is likely to propel the automotive speaker market across the globe.

Regional Analysis of Automotive Speaker Market

In terms of region, the global automotive speaker market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive speaker market in 2019. It is anticipated to hold a leading share during the forecast period, due to a rise in the production and sale of vehicles in China and countries in ASEAN.

Followed by Asia Pacific, Europe also held a significant share of the global automotive speaker market due to the rise in the demand for premium vehicles in the region. The growing adoption of autonomous vehicles and ADAS features in vehicles across Europe is likely to fuel the automotive speaker market in the region.

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Major Players in Automotive Speaker Market

Prominent players operating in the global automotive speaker market include Alpine Electronics Inc., Bose Corporation, Harman International, Pioneer Corporation, Altec Lansing, SK Telecom, Sony, Lear Corporation, Metra Electronics, Sanyo, Dynaudio, and Boston Audio.

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