Power Factor Correction Market Set to Reach $3.3 billion by 2030
The power factor correction market is booming! Projections show it reaching a substantial USD 3.3 billion by 2030, a significant jump from USD 2.4 billion in 2024. This represents a compound annual growth rate (CAGR) of 5.5%, indicating strong and steady expansion.
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What’s Driving This Growth?
Several...
Software Defined Vehicle Market Size, Share, Growth Trends 2030
The global s/w defined vehicle market size is projected to grow from USD 213.5 billion in 2024 to USD 1,237.6 billion by 2030, at a CAGR of 34.0%.
SDVs are expected to be the next big disruption in Automotive Sector in the coming decade. By 2030, more than 70% passenger cars, as well as significant number of LCVs will be SDVs. Key automakers are also adapting to new generation E/E and chassis architectures...
Automotive Lighting Market Size, Share, Forecast Report 2030
The Automotive Lighting Market is projected to grow from an estimated USD 22.5 billion in 2023 to reach USD 30.4 billion by 2030 at a CAGR of 4.4% during the forecast period.
Automotive manufacturers are highly focused on developing new and innovative lighting to increase the driver’s and other road users’ aesthetic appeal and safety. Automotive lighting is an integral part of every...
Electric Construction Equipment Market Size, Share and Forecast 2030
The global electric construction equipment market is projected to grow from USD 10.2 billion in 2023 to USD 44.8 billion by 2030, at a CAGR of 23.6% from 2023 to 2030
The market is driven by factors such as – increasing demand to minimize exhaust emissions, operational benefits such as decreased ventilation costs in underground mining & lower operating costs of electric equipment, and...
Automotive Ethernet Market Size, Share, Trends, Demand & Forecast 2028
The global Automotive ethernet market size is projected to grow from USD 2.2 billion in 2023 to USD 5.5 billion by 2028, at a CAGR of 19.7%. The increasing demand for faster in-vehicle networking is expected to increase the demand for automotive ethernet. Additionally, continuous innovation in connected car features will boost the demand for automotive ethernet.
Network segment is expected to have...
EV Connector Market Size, Share, Growth & Forecast 2030
The global EV connector market is projected to grow from USD 2.0 billion in 2023 to USD 10.9 billion by 2030, registering a CAGR of 27.1%.
EV connectors for high-voltage systems and need of miniaturization, weight reduction, and high-performance materials, and a surge in data transmission and complex systems for ADAS, battery management, vehicle lighting and autonomous driving, demanding high-bandwidth...
Racing Simulator Market Size, Share & Forecast Report 2030
The racing simulator market is projected to grow from USD 0.5 billion in 2024 to USD 1.1 billion by 2030 at a CAGR of 15.6% during the forecast period.
The growth of the racing simulator market is mainly driven by the rising e-sports tournaments and leagues, inclination towards professional motor racing events, constant advancement in simulation technology, rising affordability, and easy accessibility....
Industrial Vehicles Market Size, Share, Trends & Report 2030
The global industrial vehicles market size is projected to grow from USD 43.1 billion in 2024 to USD 56.7 billion by 2030, at a CAGR of 4.6%. Government investments in infrastructure development projects are fueling the growth of the industrial vehicles market on a global scale. Initiatives aimed at modernizing transportation networks, constructing new warehouses, and enhancing logistics capabilities...
Electric Tractor Market Size, Share, Demand & Growth Forecast 2030
The global electric tractor market is estimated to grow from USD 0.7 billion in 2024 to USD 3.4 billion by 2030, at a CAGR of 28.3%.
Growing stringency in emission norms and advancements in overall battery technology are primarily driving the developments in electric tractors. Electric tractors offer reduced carbon emissions and lower operational costs, making them attractive options. The electrification...
Car as a Connected Living Ecosystem Market Size, Share, Trends & Forecast 2035
The total market for connected living services is estimated to grow from $8 billion in 2023 to more than $1.5 trillion by 2035 at the CAGR of 54.5%.
Factors such as technology developments and advanced connectivity levels across automotive OEMs and customer perceptions & service expectations from connected cars are driving the growth of the car as a connected living ecosystem market. Customers,...