As mobility demands of consumers continue to surge, the demand for automobiles or vehicles with efficient engines rises. The statutory premise of fuel-emission standards exercised across multiple regions brings more diversity and complexity for OEMs. Leading automakers are actively employing fuel injection technologies to comply with this diversity and develop engines for the future automobiles. Gasoline direct injection technology is a key part of the umbrella for advanced fuel-injection technologies, wherein high pressure instrumented on fuel is driving down the overall fuel consumption of a vehicle.
An automotive multimedia AV navigation system is an electronic system installed in an automobile, predominantly in cars, to present various information and infotainment through different media that may include text, sound, video, and animation. Nowadays, a substantial number of automobiles are manufactured with the automotive multimedia AV navigation system. Existing automobiles can also install one of the many automotive multimedia AV navigation systems available, at a reasonable price, in the market.
Extensively employed in commercial as well as passenger vehicles, low rolling tires will remain a popular choice among automakers and consumers, as a fuel efficient tire type. As the global demand for sustainability and fuel efficiency continues to mount, low rolling resistance tires are most likely to witness a strong surge in demand over the years to come.
The global is estimated to be valued more than $290 billion by 2024. Rising premium audio system and advanced driver assistance system demands are the key factors anticipated to augment the market growth. Accident recorder systems, emergency call systems, and alcohol ignition interlocks are the technologies that are said to boost the growth in the near future. In addition, rising trend of in-vehicle infotainment is also likely to help boost the market. High complexity levels and lacking awareness about the overall subsystems’ understanding may hinder the growth. The global automotive electronics market is divided into applications and regions.
The global market for automotive HVAC (Heating, Ventilating, and Air Conditioning) was estimated at USD 12 billion in 2015 and is anticipated to grow at a CAGR of over 8% over the forecast period (from 2016 to 2024). The growing production of the passenger vehicles along with the rising income levels is projected to augment the global market growth over the next few years.
Improved lifestyles and rising customer awareness about the energy-efficient products are projected to contribute towards the growth. Various technological improvements and innovations for cost-effective and efficient products are also driving the demands extensively. Negative impact on the economy of automobile fuel is likely to hinder the market growth; however, the effects of this restraint are said to decrease in the long term. The global HVAC market is categorized as applications, technologies, and regions.
The application sector involves Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and passenger cars. The passenger cars sector dominated the market in 2015 accounting for the revenue share of over 60 %. This is mainly because of the increasing demands for passenger vehicles along with the rising sales of luxury vehicles globally. Demands in the LCV sector is anticipated to grow at a CAGR of 8 % during the estimated years.