Autonomous Vehicle Development Platform Global Market Report 2023 – By Component (Software, Service), By Vehicle Type (Passenger Car, Commercial Vehicle), By Functionality (Sensor Simulation, Data Collection And Analysis, Simulation And Testing), By End-User (Automotive Manufacturers, Technology Companies, Research Institutions And Universities) – Market Size, Trends, And Global Forecast 2023-2032

A passenger electric vehicle is a road motor vehicle that runs on electricity and is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger electric vehicle market are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The vehicle types involved are sedans, hatchbacks, and SUVs. The charging infrastructure involved is normal charging and high power charging. The global passenger electric vehicles market is segmented – 1) By Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle 2) By Vehicle Type: Sedan, Hatchback, SUV 3) By Charging Infrastructure: Normal Charging, High Power Charging The global passenger electric vehicles market grew from $278.75 billion in 2022 to $365.72 billion in 2023 at a compound annual growth rate (CAGR) of 31.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global passenger electric vehicles is expected to grow from $1,083.65 billion in 2027 at a CAGR of 31.2%. The rising concerns about environmental factors, including global warming and climate change, are increasing the demand for electric vehicles and, subsequently, driving the passenger electric vehicle market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport that cause less pollution. This has resulted in a substantial increase in the purchase of electric vehicles across the globe. Electric vehicles are one of the most sustainable modes of transportation as they do not emit climate-damaging greenhouse gases or health-harming nitrogen oxide. They are also relatively quieter and easier to operate. For instance, according to data by UNICEF, according to the Intergovernmental Panel on Climate Change (IPCC), the level of carbon dioxide in the atmosphere will be cut by 45 percent by 2030 to prevent global warming above 1.5oC and the threshold at which the worst impacts of climate change could be averted. These factors are expected to boost the demand for electric vehicles and drive the passenger electric vehicles market demand going forward. Major players in the passenger electric vehicles market are Tesla Motors Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company and Toyota Motor Corporation, Tesla Motors, Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company, Toyota Motor Corporation, Volkswagen AG, General Motors Company, Daimler AG, and Mitsubishi Motors Corporation. Battery capacity and drainage challenges are significant challenges that are restraining the growth of the passenger electric vehicles market. The capacity of lithium-ion batteries, which are generally used in electric cars, decreases with the increase in the number of cycles of charging and discharging. An electronic vehicle's battery can be damaged due to high temperatures, overcharging, low voltages, and high charge current. There is also a risk of battery drainage while in the middle of the journey, which would leave the driver with no other alternative source of fuel or power where there is no electric charging station. For example, a report published in Economic Times (Auto) suggested that the electric cars made by Mahindra performed poorly, and their battery capacity was not up to the required levels. The models tested could not even run 80-82 km on a single charge. These issues with batteries are limiting the use of electric vehicles, thus restraining the growth of the passenger electric vehicles market. Companies in the passenger electric vehicles market are focusing on the development of technologies to increase the range of the vehicles. Automobile manufacturers have increased the battery range of their electric models by an average of 38 miles, which is equivalent to a cumulative 15% increase on average every year. Other developments include fluoride-ion batteries, which have higher performance compared to currently used lithium-ion batteries. The fluoride-ion batteries have greater energy density and are more eco-friendly than the current lithium-ion technology. With this new battery technology, an EV could go further on a pack of the same physical size or the same distance with a physically smaller battery pack, thus improving the range of the vehicle. Honda has already invested in the same and is working along with CalTech and NASA's Jet Propulsion Laboratory on this technology. The passenger electric vehicles market in Europe is governed by WP.29 of the UNECE (United Nations Economic Commission for Europe) Vehicle Regulations, which contribute to mobility electrification. WP. 29 specifies certain regulations that are required for assessing electric vehicles before commercializing them. This assessment is done in respect of safety standards and environmental performance of electric vehicles, hybrid electric vehicles, and fuel cell vehicles. This regulation also covers the risks relating to electric shocks and fire explosions due to the battery. Various testing procedures are undertaken by the concerned regulatory bodies to evaluate the environmental efficiency of these vehicles. In June 2022, Club Car, a US-based manufacturer and global leader in golf, consumer, and utility vehicles, acquired Garia A/S for an undisclosed amount. Through this acquisition, Club Car will expand in low-speed electric vehicles. Garia A/S is a Denmark-based manufacturer of electric vehicles for the utility, consumer and golf markets. Asia-Pacific was the largest region in the passenger electric vehicles market in 2022. This region is expected to remain the largest during the next five years. The regions covered in the passenger electric vehicles industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger electric vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The passenger electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger electric vehicles market research report is one of a series of new reports from The Business Research Company that provides passenger electric vehicles market statistics, including passenger electric vehicles industry global market size, regional shares, competitors with a passenger electric vehicles market share, detailed passenger electric vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the passenger electric vehicles industry. This passenger electric vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Autonomous commercial vehicle is a vehicle used for commercial purposes and has hardware and software that can perform the dynamic driving task without the active physical control or supervision of a human being. The main types of vehicles in autonomous commercial vehicles are trucks, trailers, buses, and others. The truck is a wheeled vehicle for moving heavy articles. The automation levels involved are driver assistance, partial automation, conditional automation, high automation, and full automation. The fuel types involved are conventional, hybrid vehicles, and electric vehicles. The global autonomous commercial vehicle market is segmented - 1) By Vehicle: Truck, Trailer, Bus, Other Vehicle Types 2) By Automation Level: Driver Assistance, Partial Automation, Conditional Automation, High Automation, Full Automation 3) By Fuel Type: Conventional, Hybrid Vehicle, Electric Vehicle The global autonomous commercial vehicle market size will grow from $6.41 billion in 2022 to $7.95 billion in 2023 at a compound annual growth rate (CAGR) of 23.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global autonomous commercial vehicle is expected to grow to $16.24 billion in 2027 at a CAGR of 19.6%. The increase in government approvals for testing autonomous trucks on public roads is driving the growth of the autonomous commercial vehicle market. The governments of major countries are allowing the testing of autonomous vehicles to promote the use of commercial vehicles for delivery and other purposes. The California Department of Motor Vehicles (DMV) proposed a regulation that would allow companies to deploy or test light-duty autonomous motor trucks or delivery vehicles on the public roads of the state. Under the regulation, companies can test delivery vehicles that weigh less than 10,001 pounds with an approved permit from the DMV. The government's approval for testing autonomous vehicles on roads encourages customers to have a glimpse of such vehicles, creating a potential opportunity for sale shortly, thereby driving the demand for the growth of the autonomous commercial vehicles over the forthcoming years. Major players in the autonomous commercial vehicle market are Volkswagen, Daimler, Tesla, Denso, Continental, Waymo, BMW AG, Isuzu Motors Limited, General Motors, and AB Volvo. Increasing concerns for cybersecurity and data privacy acts as a major challenge for the autonomous commercial vehicles market. According to a report on issues in autonomous vehicle testing and deployment published by the Congressional Research Service, the USA's policy institute in February 2020, with advances in technology, the concerns for data security and protection of the on-board system against intrusion are increasing. The inbuilt automated components in the vehicle generate a large amount of data about the vehicle, vehicle performance, driver behavior, and precise location. The protection of autonomous vehicles from hackers is of paramount concern to state and federal governments, service providers, manufacturers, and users. Therefore, with advancements in technology, the concerns for data privacy and security are increasing, which, in turn, is likely to act as a major restraint for the growth of the autonomous commercial vehicle market. The launch of new products is a key trend gaining popularity in the autonomous commercial vehicle market. Companies in the market are focusing on the launch of new products to generate significant cost benefits, and ensure product quality, safety and user experience. For example, in October 2022, XPeng, a Chinese electric vehicle manufacturer, launched G9 SUV, a mass-produced commercial vehicle with new advanced driver assist system (ADAS), the XNGP, combines XPeng’s Highway Navigated Guided Pilot (NGP) and City NGP to automate certain driving functions in both highway and urban driving scenarios. In June 2022, Uber Freight, a US-based managed transportation provider, partnered with Waymo Via. This partnership combines the strength of Waymo's autonomous driving technology with the size of Uber Freight's network and cutting-edge marketplace technology, providing a clear path for the cautious and secure introduction of autonomous trucks on US roads. Waymo Via is a US-based autonomous driving technology company. Asia-Pacific was the largest region in the autonomous commercial vehicle market in 2022. North America was the second largest region in the autonomous commercial vehicle market share. The regions covered in the global autonomous commercial vehicle market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the autonomous commercial vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The autonomous commercial vehicle market consists of sales of autonomous buses and coaches. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The autonomous commercial vehicle market research report is one of a series of new reports from The Business Research Company that provides autonomous commercial vehicle market statistics, including global market size, regional shares, competitors with an autonomous commercial vehicle market share, detailed autonomous commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous commercial vehicle industry. This autonomous commercial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Electric commercial vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem. The main propulsion types in electric commercial vehicles are BEV, PHEV, and FCEV. Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The vehicle types involved are electric buses, electric trucks, electric pick-up trucks, and electric vans. The battery types involved are lithium-iron-phosphate (left), lithium-nickel-manganese-cobalt oxide (nmc), and others. The technologies involved are battery-electric commercial vehicles, plug-in hybrids, hybrids, and fuel cell electric commercial vehicles. The global electric commercial vehicles market is segmented - 1) By Propulsion Type: BEV, PHEV, FCEV 2) By Vehicle Type: Electric Bus, Electric Truck, Electric Pick-up Truck, Electric Van 3) By Battery Type: Lithium-iron-phosphate (LFP), Lithium-nickel-manganese-cobalt oxide (NMC), Other Battery Types 4)By Technology: Battery Electric Commercial Vehicles, Plug-in Hybrids, Hybrids, Fuel Cell Electric Commercial Vehicles The global commercial electric vehicles market size grew from $88.45 billion in 2022 to $116.95 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global commercial electric vehicles is expected to grow from $357.44 billion in 2027 at a CAGR of 32.2%. During the historic period, government subsidies on electric commercial vehicles marketcontributed to the growth of the electric commercial vehicle market. For instance, according to the Government of India Budget 2022-23, the faster adoption and manufacturing of hybrid and electric vehicles (FAME) scheme will provide a subsidy of up to INR 2908 crores. Similarly, according to the Uttar Pradesh government's Manufacturing and Mobility policy 2022, all-electric vehicles will be subsidized including bikes, scooters, three-wheelers, and cars. As part of this new policy, the state government will offer subsidies of up to Rs 1 lakh for electric cars for three years. The subsidies were given to three and four-wheeled electric vehicles for commercial and fleet applications. The market is being driven by the government's support for the use of growth of the electric commercial vehicles market. Major players in the electric commercial vehicles market are BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors. The growth of the electric commercial vehicles market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery are typically less powerful and have a limited range (60-100 miles per charge), and are considered suitable only for short-distance travel. The limited travel range of electric vehicle batteries raises consumer concerns that their vehicles will run out of charge/power before arriving at their destination. Charge duration is another major challenge for the market. The lack of availability of supercharging stations adds to the woes associated with the use of batteries in electric vehicles. For example, according to the Alternative Fuels Data Center, in the USA in 2020, there will be around 76,000 public charging stations, compared to 168,000 stations that serve gas. When surveying USA customers about purchasing electric vehicles, more than half of the respondents indicated that they wouldn’t buy an EV due to a lack of charging stations. Therefore, these factors are major restraints for the electric commercial vehicles market during the period. Electric commercial vehicles market companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involve the sharing of resources and expertise that enhance the product and multiply the results. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and are investing €100 million (about $110 million) in a UK-based electric vehicle startup company, 'Arrival,' for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics. In August 2021, Ideanomics, a US-based company focused on driving the adoption of commercial electric vehicles and associated energy consumption, acquired VIA Motors International for an undisclosed amount. Through this acquisition, Ideanomics will leverage highly complementary products to increase Ideanomics market reach and foster prospects for joint development and marketing. VIA Motors International is a US-based manufacture commercial electric vehicles. Asia-Pacific was the largest region in the electric commercial vehicles market in 2022. North America was the second largest region in the global electric commercial vehicles market share. The regions covered in the global electric commercial vehicles market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric commercial vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The electric commercial vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides electric commercial vehicles market statistics, including electric commercial vehicles industry global market size, regional shares, competitors with an electric commercial vehicles market share, detailed electric commercial vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicles industry. This electric commercial vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A light commercial vehicle often known as an "LCV" is any passenger automobile or goods truck with a gross vehicle weight of more than 7,500 kilograms and includes tractors, trailers and others. The main types in the light commercial market are passenger vans, cargo vans, pickup trucks, light trucks, minibusses, and other types. Trucks carrying the highest gross vehicle weight of 3.5 metric tonnes and above 15 metric tonnes could be classified as light commercial vehicles (LCVs). The various fuel types are electric, diesel, and gasoline. The various tonnage capacities include less than 2.5 tons, 2.5 to 3.5 tons, and more than 3.5 tons. The global light commercial vehicle market is segmented – 1) By Vehicle Type: Passenger Van, Cargo Van, Pickup Trucks, Light Trucks, Mini Buses, Other Vehicle Types 2) By Fuel: Electric, Diesel, Gasoline 3) By Tonnage Capacity Type: Less Than 2.5 Tons, 2.5 To 3.5 Tons, More Than 3.5 Tons The global light commercial vehicle market size will grow from $568.17 billion in 2022 to $639.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global light commercial vehicle is expected to grow to $1,001.35 billion in 2027 at a CAGR of 11.8%. The increase in online shopping is expected to drive the light commercial vehicle market. As urbanisation has increased, it has created new retail and e-commerce platforms that require efficient logistics, which could be fulfilled by light commercial vehicles (LCV). Moreover, the current pandemic situation has impacted online shopping owing to health concerns. According to Adobe Analytics, consumers in the USA spent $2.2 billion on November 2nd, 2020, a 31% increase in year-over-year growth, and another $2.0 billion on November 3rd, 2020, which was a 27% year-over-year increase. Thus, increased demand for goods through e-commerce is pushing the use of LCVs in logistics, paving the way for the growth of the light commercial vehicle market. Major players in the light commercial vehicle market are Daimler, Ford, Renault, Volkswagen, Ashok Leyland, Tata Motors, SML Isuzu Limited, Toyota Motor, Groupe PSA, and Nissan. The stringent emission norms imposed by the government-related CO2 emissions are expected to be a major challenge for the light commercial vehicle market. In the European Union (EU), LCV CO2 emission targets were set at 175g/km. The EU imposed stricter CO2 emission standards on passenger cars and LCVs, which came into force in January 2020. According to the new regulation standards (Regulation (EU) No 2019/631), the average CO2 emission target is 147 grammes of CO2 per kilometer. The new regulations focus on reducing average CO2 emissions by 31% for LCVs by 2030 as compared to 2021. The commission will impose an excess emission premium on the manufacturer of $112.15 (€95) for each g/km that is exceeded for all registered LCV if the manufacturer exceeds a specific emissions target. The strict CO2 emission regulations impact manufacturing expenditure and limit the growth of the light commercial vehicle market. Skateboard architecture is increasingly being preferred by manufacturers for high efficiency and productivity in light commercial vehicles and is turning out to be a trend in the light commercial vehicle market. The skateboard architecture refers to an actual physical platform, which forms the floor of the vehicle and incorporates the battery. For instance, in February 2020, Hyundai partnered with Canoo, a Los Angeles-based company creating EVs, to jointly develop an electric vehicle (EV) platform. Hyundai and Kia’s scalable skateboard architecture will provide a simplified and standardised development process for their electrified vehicles, and this will help reduce costs. North America was the largest region in the light commercial vehicles market in 2022. Asia-Pacific was the second-largest region in the light commercial vehicle market share. The regions covered in the global light commercial vehicle market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the light commercial market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The light commercial vehicle market consists of sales of cars and vans. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The light commercial vehicle market research report is one of a series of new reports from The Business Research Company that provides light commercial vehicle market statistics, including light commercial vehicle global market size, regional shares, competitors with a light commercial vehicle market share, detailed light commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the light commercial vehicle industry. This light commercial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vehicle engine and engine parts are components that generate the power needed to propel a car or other vehicle. The main types of vehicle engines and engine parts are vehicle engines and vehicle engine parts. Vehicle engines are referred to as the engines that are used for vehicles, and there are many engine propulsion systems involving the parts of the vehicle. The various placement types are in-line engines, W engines, and V-types. The various fuel types are gasoline (petrol), diesel, gas, and other fuel types. The global vehicle engine and engine parts market is segmented - 1) By Product Type: Vehicle Engines, Vehicle Engine Parts 2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types 3) By Placement Type: In-line Engine, W Engine and V-Type The global vehicle engine and engine parts market size will grow from $401.40 billion in 2022 to $438.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global vehicle engine and engine parts is expected to grow to $600.27 billion in 2027 at a CAGR of 8.2%. The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market growth. Major players in the vehicle engine and engine parts market are Cummins, Toyota Motor, Denso Corporation, Delphi Automotive PLC., Federal-Mogul Corporation, Mahle GmbH, BMW AG, General Motors, Volkswagen AG, and Fiat Automobiles SpA. The growth of the vehicle engine and engine parts market is restricted by the growing popularity of electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also do not contribute to air pollution. The popularity of the electric car market is backed up by several government initiatives, such as in Norway, where the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. the number of electric cars employed on the road reached 10 million in 2020. In 2021, According to mobi.com, China remained the world's largest car market. According to reports by the International Energy Agency (IEA), in 2021, electric car sales were more than doubled reaching 6.6 million, representing close to 9% of the global car market. With the increasing popularity of electric vehicles, the demand for engine-operated vehicles is negatively impacted, thus causing an overall fall in demand for the vehicle engine and engine parts market growth. Declining sales in the automobile sector restrict the growth of the vehicle engine and engine parts market. The decline in demand for automobiles in various economies causes lower demand for new engines and engine parts manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car production fell by 16% in 2020. In India, the Society of Indian Automobile Manufacturers said, there was decline in passenger car sales from 1,541,866 in 2021 to 1,467,056 units in 2022. The companies operating in the vehicle engine and engine parts market are investing in improving the fuel efficiency of internal combustion engines. Manufacturers are producing engines that deliver more power and improve fuel economy. Improving the fuel efficiency of vehicle engines serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve fuel efficiency, companies are investing in ' direct fuel injection' technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder, helping keep the engine's temperature down and increasing fuel efficiency. Also, as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines. In May 2022, Melling Engine Parts, a US-based manufacturer of aftermarket oil pumps and related products, acquired Sigma Engineering for an undisclosed amount. Through this acquisition, Melling Engine Parts will focus on controlling their supply and quality. Sigma Engineering is a US-based diesel and gas engine parts company. Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2022. Western Europe was the second largest market in the global vehicle engine and engine parts market analysis. The regions covered in the global vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the vehicle engine and engine parts include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia. The vehicle engine and engine parts market consist of sales of engine, transmission, driveshaft, axles, head, block, oil sump and differential. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The vehicle engine and engine parts market research report is one of a series of new reports from The Business Research Company that provides vehicle engine and engine parts market statistics, including global market size, regional shares, competitors with a vehicle engine and engine parts market share, detailed vehicle engine and engine parts market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle engine and engine parts industry. This vehicle engine and engine parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

A commercial vehicle is a vehicle with a license to transport goods or materials rather than people. A commercial vehicle is used for commercial or business purposes. The main types in the commercial vehicle market include light commercial vehicles, heavy trucks, buses, and coaches. Light commercial vehicles refer to vehicles that are no more than 3.5 metric tons. The various fuel types are gasoline, diesel, and other fuel types. The various propulsion types include IC engines and electric vehicles. Commercial vehicles are used in mining and construction, logistics, passenger transportation, and other applications. The global commercial vehicle market is segmented - 1) By Type: Light Commercial Vehicle, Heavy Trucks, Buses And Coaches 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Application: Mining & Construction, Logistics, Passenger Transportation, Other Applications 4) By Propulsion Type: IC Engine, Electric Vehicle The global commercial vehicle market size grew from $819.24 billion in 2022 to $908.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial vehicle market is expected to grow to $1345.23 billion in 2027 at a CAGR of 10.3%. Advances in technology are expected to be a continued driver of market growth in the forecast period. The commercial vehicle industry has experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features in 2020 include autonomous driving; driver override systems; biometric vehicle access; comprehensive vehicle tracking; active window displays; remote vehicle shutdown; active health monitoring; four-cylinder supercars; smart and personalized in-car marketing; and reconfigurable body panels. These innovations are expected to drive the commercial vehicle market during the forecast period. Major companies in the commercial vehicles market include Volkswagen AG, Daimler AG, Toyota Motor Corp, Peugeot, General Motors Co, Ford Motor Co, SAIC, Motor Co Ltd., Volvo AB, Bayerische Motoren Werke AG, and Kia Motors Corp. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the commercial vehicle market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak continues to hurt businesses throughout 2020 and into 2021. However, it is expected that the commercial vehicle market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Major commercial vehicle manufacturers are investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Driverless commercial vehicles can sense their surrounding environment and navigate through an area without the involvement of humans using radar, GPS, and computer vision technology. With this technology becoming realistic, many companies are expected to be part of the production and design of driverless vehicles. Companies such as UPS and Amazon are testing driverless commercial vehicles to improve operational efficiencies and reduce costs. North America was the largest region in the commercial vehicles market in 2022. Asia-Pacific was the second-largest region in the commercial vehicle market. The regions covered in the commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motorcycle, bicycles, and parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The commercial vehicle market consists of sales of trucks, buses, trailers, taxis, heavy equipment, trailers, and travel trailers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial vehicle market statistics, including commercial vehicle industry, global commercial vehicle market size, regional shares, competitors with a commercial vehicle market share, detailed commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the commercial vehicle industry. This commercial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Motor vehicle refers to any land vehicle that is not propelled by human muscle power, including cars, motorbikes, autocycles, and slow-moving vehicles. An engine or motor, typically an internal combustion engine, an electric motor, or a hybrid of the two, such as a plug-in hybrid or hybrid electric vehicle, provides the propulsion for the vehicle. The main types in the motor vehicles market are motorcycles and bicycles, passenger cars and commercial vehicles. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, and other fuel types. These have an engine capacity of 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. These have propulsion types such as ic engines and electric vehicles. The global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle Subsegments Covered: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses And Coaches The global motor vehicles market size grew from $2398.24 billion in 2022 to $2643.91 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicles market is expected to grow to $3818.12 billion in 2027 at a CAGR of 9.6%. The motor vehicles market is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the motor vehicles market during the forecast period. Major companies in the motor vehicles market include Volkswagen AG, Toyota Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co Ltd., EXOR Group, Bayerische Motoren Werke AG, and Hyundai Motor Co Ltd. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicles market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries-imposed lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the automotive industry will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle manufacturers, especially car manufacturers, are increasingly focusing on the commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel level information, vehicle speed, and other information. Some car manufacturers are also offering technologies that can be fixed on the dashboard of a car. For instance, in 2021, Huawei revealed its latest innovation at the Munich International Automobile Expo in Germany. The new AR HUD technology is an augmented reality-based system that transforms a car's front windshield into a smart display. Asia-Pacific was the largest region in the motor vehicles market in 2022. North America was the second largest market in automotive motors market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicles market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicles market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The motor vehicles market research report is one of a series of new reports from The Business Research Company that provides motor vehicles market statistics, including motor vehicles industry motor vehicles market size, regional shares, competitors with a motor vehicles market share, detailed motor vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and

Motor vehicle part refers to any component that is typically fixed, glued, or otherwise attached to or a part of a vehicle, including the vehicle frame. It also comprises fragments of any such component. The main types of motor vehicle parts are motor vehicle bodies, stamped metal & other parts; motor vehicle engines; power train & parts; motor vehicle electrical & electronic equipment; steering suspension; & interiors. The motor vehicle body refers to the parts of the motor vehicle that help in certain functions they perform. The various applications include passenger vehicles and commercial vehicles. These are used in the OEM and aftermarket. The global motor vehicle parts market is segmented - 1) By Type: Motor Vehicle Body, Stamped Metal & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End Use: OEM, Aftermarket Subsegments Covered: Motor Vehicle Body, Stamped Metal, Other Parts, Vehicle Engine And Engine Parts, Power Train And Power Train Parts, Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim The global motor vehicle parts market size grew from $2,563.64 billion in 2022 to $2,807.3 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicle parts market is expected to grow to $3,903.28 billion in 2027 at a CAGR of 8.6%. Technological Advances: Advances in technology are expected to be a continued driver of motor vehicle parts manufacturing market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing, and reconfigurable body panels. These innovations are expected to drive the automotive parts industry during the forecast period. Major companies in the motor vehicle parts market include EXOR Group, Denso Corp, General Motors Co, Robert Bosch GmbH, Aisin Seiki Co Ltd., Continental AG, Fiat Chrysler Automobiles NV, Magna International Inc., Toyota Motor Corp, and SAIC Motor Co ltd. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicle parts manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak is expected to continue to harm businesses throughout 2020 and into 2021. However, it is expected that the automotive parts industry will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. The demand for electric vehicles is increasing rapidly, and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars' components, less collaboration will be required between an automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to an EY report, the electric vehicle transformation in India may have an impact on existing automobile spare part sales because EVs have 20 moving parts while vehicles with internal combustion engines have around 200 spare parts. Asia-Pacific was the largest region in the motor vehicle parts market in 2022. Western Europe was the second largest market in motor vehicle parts market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicle parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippine, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain; Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicle parts market consists of sales of motor vehicle seating, motor vehicle metal stampings, motor vehicle gasoline engines and engine parts, and interior trim. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The motor vehicle parts market research report is one of a series of new reports from The Business Research Company that provides motor vehicle parts market statistics, including motor vehicle parts industry, global motor vehicle parts market size, regional motor vehicle parts market shares, competitors with a motor vehicle parts market share, detailed motor vehicle parts market segments, motor vehicle parts market trends and opportunities, and any further data you may need to thrive in the motor vehicle parts industry. This motor vehicle parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.