Automotive Auto Dimming Mirror Market – Global Market Size, Share, Development, Growth, and Demand Forecast to 2023

Automotive Auto Dimming Mirror Market Overview

The global automotive auto dimming mirror market is expected to see substantial growth in the coming years due to increasing concerns for passenger safety, rise in production of passenger cars, and increasing demand for luxury features in passenger cars. The increasing number of road accidents across the world is a prime concern for passengers and drivers. To reduce accidents, vehicle manufacturers are integrating different safety features in automotive mirrors.

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On the basis of type, the global automotive auto dimming mirror market is segmented into connected and non-connected dimming mirror. Of the two, connected dimming mirror is expected to witness faster growth during the forecast period, due to incorporation of features such as Bluetooth connectivity, travel calculation, weather condition, navigation and temperature display.

On the basis of vehicle type, the automotive auto dimming mirror market is bifurcated into passenger car (PC) and light commercial vehicle (LCV). PC is expected to be the largest category during the forecast period, owing to its high demand coming in from emerging economies such as India and China.

On the basis of application, automotive auto dimming mirror market is categorized into inside rear-view mirror (IRVM) and outside rear-view mirror (ORVM). IRVM is expected to hold the largest share in the industry during the forecast period, owing to its extensive usage in automobiles coupled with additional safety features incorporated in them, such as weather condition, navigation, temperature display etc.

Globally, Asia-Pacific has been the largest automotive auto dimming mirror market till now. The increasing vehicle sales, especially of passenger cars in countries such as China and India, are expected to benefit the market. In addition, the shift in preference of customers from car mileage to advanced safety features is another factor driving the growth of the market in this region.

Automotive Auto Dimming Mirror Market Dynamics

Drivers

As safety has become the prime concern of vehicle buyers, technological advancements in driver assistance system is a major factor driving the growth of automotive auto dimming mirror market. Driver assistance systems are continuously evolving over the past few years in order to provide more safety features to the drivers and passengers.

Restraints

The growing use of display-based systems, such as thermographic camera as mirror to enhance safety is a major factor restraining the growth of these mirrors in the automotive industry.

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Automotive Auto Dimming Mirror Market Competitive Landscape

The market is characterized by the presence of a considerable number of automotive auto dimming mirror manufacturers, and the competition among them is fierce. One of the major players in the industry is Gentax Corporation.

The other leading players in the industry include Samvardhana Motherson Reflectec Group Holdings Limited, Ficosa International, S.A., MURAKAMI CORPORATION, Magna International Inc., ICHIKOH INDUSTRIES, LTD., and Konview Electronics Corporation Limited.

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High market scope in developing and emerging economies is expected to provide growth opportunities to the Hybrid Electric Car Market

Falling battery prices, low price compared to other electric cars, and increased fuel economy, are some of the major factors driving the growth of hybrid electric car market globally.

Hybrid electric cars are the combination of chemically fueled (gasoline, diesel, or alternative) internal combustion    engine, electric motors, battery, and regenerative braking. Altogether, the combination of above components improves the vehicle efficiency, increase fuel economy, and decrease emissions.

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Insights on market segments

Full hybrid electric vehicles (HEVs) dominated the hybrid electric car market during the historical period. However, mild HEVs are expected to register faster growth of 39.4% during the forecast period, mainly due to their low price compared to full HEVs.

Nickel–metal hydride (NiMH) batteries powered hybrid electric cars accounted for a larger share in the market during the historical period, owing to their lower cost, higher durability, and more safety features than lithium-ion (Li-ion) batteries. 

Hybrid hatchbacks have largely dominated the hybrid electric car market, owing to consumer preference toward small cars in major HEV markets, such as Japan. Hatchback HEVs are expected to continue their dominance in the hybrid electric car market with a CAGR of 16.6%, owing to their low cost compared to other car types and the upcoming launch of several new hatchback HEV models during the forecast period.

The market will witness fastest growth in Europe

The hybrid electric car market is expected to witness the highest growth in Europe, with a CAGR of 28.5% during the forecast period, owing to stringent emission norms, increased and improved offerings of HEVs from automakers, and growing sense of environmental concern among customers in the region.

Increased fuel economy is expected to drive the market growth

The increased fuel economy offered by hybrid electric cars compared to conventional cars, owing to the incorporation of a battery and associated electric systems, is driving the growth of hybrid electric car market. They do not run entirely off the engine but use an electric motor during the start/stop/idling period, which reduces the fuel consumption by 15–40%.

High market scope in developing and emerging economies is expected to provide growth opportunities to the market

The penetration of the hybrid electric car market in emerging economies, such as China, India, Indonesia, Brazil, and South Korea, is in the formative stage. However, there is a high scope for the market growth in developing countries, owing to stringent emission norms, high gasoline prices, and high demand for passenger cars in these regions. Many automakers are planning to enter these markets with their new and existing hybrid car models. For instance, Maruti Suzuki plans to launch several hybrid cars in India by 2020.

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Hybrid Electric Car Market - Competitive Landscape

Some of the major players operating in the global hybrid electric car market are Toyota Motor Corporation, Honda Motor Co. Ltd., Bayerische Motoren Werke (BMW) Group, Ford Motor Company, Volkswagen AG, General Motors Company, and Hyundai Motor Company.

Explore Industry Insights in India Electric Bus Market by Type, Length, Battery and Region – Market Size, Share, Development, Growth, and Demand Forecast to 2025

On the basis of vehicle type, the Indian electric bus market is segmented into battery electric bus (BEB) and hybrid electric bus (HEB). Among these, in terms of volume, the HEB category accounted for more than 85% share in the electric bus industry in 2017. However, the fastest growth during the forecast period is expected from the BEB category, owing to higher government support for BEBs as they are eco-friendlier than HEBs.

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Based on battery, the Indian electric bus market is segmented into lithium-iron-phosphate (LFP), Lithium Nickel Manganese Cobalt Oxide (NMC) batteries, and others. Among these, the LFP category recorded the highest volume sales, crossing 80% in 2017. However, the fastest growth during the forecast period is expected from the NMC category, owing to its declining price in addition to the higher energy density and safety levels that it offers.

Declining battery prices and rising operational efficiencies poised to benefit the market

The mark-up price of electric bus is primarily decided by the battery the manufacturers use in it. In recent years, battery prices have been falling due to advancements in the technology adopted, thus, allowing the bus manufacturers to keep the price under check. With the passage of time, the Indian electric bus market is expected to grow in terms of operational efficiencies and development of infrastructure, thereby driving the adoption of these during the forecast period.

Government initiatives driving the market

The Indian electric bus market is primarily driven by the strict government emission norms and regulations and support in the form of subsidies and grants. Also, to deal with the growing concerns related to environmental degradation, the government has planned to roll out fleets of electric and hybrid buses and has taken initiatives to encourage electric bus manufacturing within the country.

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Competitive Landscape

The key players in the Indian electric bus market are Ashok Leyland Limited, Goldstone Infratech Limited, Tata Motors Limited, JBM Auto Limited, Solaris Bus & Coach SA, BYD Auto Co. Ltd., Zhongtong Auto Co., Optare PLC, Deccan Auto Limited, and Volvo Eicher Commercial Vehicles Limited.

Global Connected Car Market Size, Share, Development, Growth and Demand Forecast, 2013-2023

As per the findings of research, fleet manager was the highest revenue generating product category in the global market, accounting for more than 40% in 2016. In terms of application, the market is bifurcated into navigation, infotainment, and telematics, where navigation stood as the largest application area of connected cars. Navigation is also expected to be the fastest growing application of connected cars in the years to come. Connected cars are now being transformed from a simple automobile concept to advanced automotive technology in a relatively short time span.

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All major automotive manufacturers across the globe, are now concentrating on developing and implementing the connected car concept into their vehicles. Over half of the connected car industry revenue in 2023 is expected to come from integrated solutions. During the forecast period, embedded will remain the second preferred connectivity solution among connected car consumers.

Geographically, North America accounted for more than 40% of the global connected car revenue in 2016. The highest revenue contribution is backed by high technological advancements and enterprise’s receptivity towards new technologies in the region. Being one of the largest passenger car markets globally, and early adopter of smart and connected car features at residential and commercial scale.

Factors driving the growth of the global market include increasing availability of connectivity options, rise in the usage of advanced diagnostic and maintenance system, and increasing awareness toward safety and security of passengers. The emerging rise in smart phone technology has changed the definition of connectivity in recent time. Consumers wish to stay connected with the outer world even while travelling. 

Introduction of internet of things (IoT) in automobile is another factor which is driving the market worldwide and presenting completely new options to the legacy concept of a car. The introduction of IoT is behind the overall growth of the global connected car market. With the rapid ongoing adoption of IoT and its adjacent technologies, the automotive industry is becoming a winner of IoT services among all industries.

Automotive players are entering in strategic alliances with technology providers to combine their expertise and offer best in class connected car solutions and compete with peers. For instance, Honda Cars India recently tied up with IBM, leading to a collaboration between IBM Watson IoT and Honda Connect. Honda, an automobile manufacturer in the region, aims to enhance its existing Honda Connect platform using Watson IoT and offer its customers with new features around service booking, convenience, safety and security. 

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Some of the major players operating in this market are Telefonica S.A., Google Inc., Bayerische Motoren Werke (BMW) Group, AT&T Inc., Intel Corporation, IBM Corporation, and Vodafone Group Plc.

Automotive Fuel Transfer Pumps Market Research Report - Industry Insights by Pump Type, Technology and Vehicle Type

Changing consumer preferences and technological advancements are expected to drive the demand for automotive fuel transfer pumps over the forecast period. The ongoing technological advancements such as interactive safety systems, self-driving cars and vehicle connectivity are expected to change the global scenario of the automotive industry over the forecast period. Currently, automobiles are being launched with smart features and technology that abide with the latest standards such as safety, emission, performance and quality. The demand of such products with superior comfort features is also increasing.

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In past ten years span, the manufacturing companies are actively engrossed in the integration of various technologies such as automatic transmission, gasoline turbochargers, gasoline direct injection and power steering. To fulfill these requirements, dedicated automotive fuel transfer pumps are required for the efficient operation of automobile. With the rapidly changing dynamics of automotive industry, these technologies are likely to augment the growth of global automotive fuel transfer pumps market.

The global automotive fuel transfer pumps market is exhibiting consistent growth in the adoption of electric pumps, on account of their better performance and increased efficiency as compared to mechanical pumps. Electric pumps offer various benefits such as enhanced pressure regulation, less prone to wear & tear and high durability. The adoption of electric pumps is comparatively high, resulting in increase in vehicle pricing. 

The major reason for the fast growth of the market in the Middle East and Africa includes increasing investments in technology up gradation and burgeoning demand for passenger cars and light commercial vehicles in this region.

Demand for fuel-efficient vehicles such as hybrid and electric passenger vehicles in countries such as Germany, France and Italy is projected to boost the market demand significantly in the near future. However, on account of economic instability, this region is expected to witness below average growth rate in the coming years.

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Some of the major players operating in the global automotive fuel transfer pumps market include Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Delphi Automotive PLC, Johnson Electric, SHW AG, Magna International Inc., Mikuni Corporation, and JTEKT Corporation.

Get Complete Market Research Report for Global Vehicle Camera Market - Growth and Demand Forecast to 2023

Vehicle cameras are attached to the dashboard of windshield of different vehicles. These are real video recording devices designed to record real-time videos of the outsides and insides of the vehicles. Vehicle cameras are a part of the automotive safety plans and regulations, towards which most of the nations are focused for implementation.

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The demand for vehicle camera is also driven due to the various advantages offered by such cameras, especially when used in the case of accidents and theft evidence. Moreover, most automotive cameras are equipped with features, such as G-sensors, global positioning system (GPS), night video recording, and loop recording and high-quality day.

Vehicle cameras are attached to the dashboard of windshield of different vehicles. These are real video recording devices designed to record real-time videos of the outsides and insides of the vehicles. Vehicle cameras are a part of the automotive safety plans and regulations, towards which most of the nations are focused for implementation. In terms of production and sales of automotive vehicles, the passenger car segment holds the largest market share.

The advancements in various driver assistance and safety systems especially in lane departure warning system (LDWS) and blind spot detection system (BSD) are driving the growth of the global vehicle camera market. The computer-vision-based blind spot detection system uses digital camera imaging technology to sense the presence of vehicles in blind zones, as cameras mounted on, or near the outside rear-view mirror housings on both sides of the vehicle provide views of the blind zones to the system. LDWS warns the driver of a lane departure, when the vehicle's turn signal is not activated and the vehicle is travelling above a definite speed.

The inclination of insurance companies and government towards the installation of vehicle cameras is also driving the growth of the global vehicle camera market. This is due to the fact that video recordings from the cameras of vehicles help insurance companies to block false claims. The growing partnerships with vehicle manufacturers to develop vehicle camera with superior features, such as night vision is expected to boost the growth of the market for vehicle cameras in the near future. 

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However, the government restriction on vehicle cameras in several countries of Europe is expected to hamper the growth of the market. Autoliv Inc., Continental AG, Qrontech Co. Ltd., Ficosa International S.A., KYOCERA Corporation, Transcend Information Inc., Valeo Inc., Robert Bosch GmbH, Delphi Automotive LLP, Media Data Systems Pte Ltd. are some of the major competitors in the global vehicle camera market.

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Find Market Research Report for Global Automotive Battery Market Size, Share, Development, Growth and Demand Forecast to 2023

An electric vehicle battery or traction battery is a battery used to power the propulsion of battery electric vehicles. Vehicle batteries are usually secondary or rechargeable batteries. The application of traction batteries are in the sectors including electric transportation vehicles, electric commercial and private vehicles, and electric goods carrier vehicles. Batteries used in automobiles are generally SLI batteries i.e. starting, lighting, and ignition. These batteries are designed to provide power for a limited time period and not used to run the vehicle. Deep cycle batteries are used instead of SLI batteries for hybrid vehicle applications.

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A battery module consists of battery cells, sensors, battery management system (BMS) and contactors enclosed in a casing. A battery cell consists of electrodes, separators and electrolyte. The types of batteries used include lead-acid, nickel metal hydride, lithium ion, zinc-air, and molten salt. Lithium ion battery is the most commonly used rechargeable battery. In 2015, Asia-Pacific was the largest manufacturer of Li-ion batteries, followed by North America and Europe.

The decreasing crude oil reserves and environmental impact of the conventional vehicles are the major factors driving the growth of the automotive battery market. With the decreasing crude reserves, the demand for economical transportation technologies has attracted investment in this market. The government of  major countries  have encouraged adoption of hybrid vehicles that utilize the electric battery. The stringent environmental regulations in the European Union have encouraged the use of battery run vehicles. These factors are expected to create growth opportunities for the automotive battery market.

Battery is a major factor that determines the cost and range of the battery driven automotive vehicle. Due to the high cost of the batteries, the overall cost of the vehicle is also high and it acts as a hindrance for electric vehicle market but only the initial purchase cost is high, as the vehicles uses electricity to give them power and the cost required to operate an electric vehicle is considerably much lower than that of the liquid fuel to generate an equivalent amount of energy. 

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Some of the major automotive battery manufacturers include Kokam, BYD, Toshiba, LG Chem Power, Sanyo, Li-tec Battery GmbH, Johnson Controls, among others.

India Automotive HMI Market by Product, Interface, End-Use and Region - Growth and Demand Forecast to 2023

Based on product, the Indian automotive HMI market is categorized into steering mounted controls, touch screen display, multifunction switches, head-up display (HUD), instrument clusters and rear seat entertainment (RSE). Of these, the touch screen display category is estimated to account for the largest share in the market, driven by its increasing adoption in medium category cars.

On the basis of end-use, the Indian automotive HMI market is segmented into economy, medium, and premium cars. On the basis of value, the medium car category held the largest share in the automotive HMI market of the country in 2017, accounting for more than 62%, due to increasing HMI penetration in these cars. However, premium car is expected to be the fastest growing category during the forecast period, due to its increasing sales in the country.

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On the basis of access, the Indian automotive HMI market is categorized into multimodal HMI and standard HMI. Standard HMI access held a larger revenue share, at more than 90%, in 2017, due to lower cost of these HMIs when compared to the multimodal ones. However, multimodal HMI is expected to witness faster growth during the forecast period, due to increasing demand for premium and comfort features in passenger cars. Benefits offered by multimodal HMI, such as improved recognition and faster interaction, are likely to swell their adoption in passenger cars.

The HMI sales in the country is evenly distributed in the northern, southern and western regions of the country, with the western part of the country accounting for the maximum share, contributing more than 28% in automotive HMI market in 2017. The HMI sales in the eastern region of the country remains low, due to lower economic growth and low income levels in this part of the country.

Some of the major players operating in the Indian automotive HMI industry are Visteon Corporation, Panasonic Corporation, Continental AG, Robert Bosch GmbH, DENSO Corporation, Nippon Seiki Co. Ltd., Alpine Electronics Inc, Alps Electric Co., Ltd, Omron Corporation, ZF Friedrichshafen AG and Valeo SA.

Global Industry Insights in Smart Water Meter Market by Type, Application and Geography - Growth and Demand Forecast to 2025

The interest for advanced metering infrastructure (AMI) has been developing at a steady pace and is expected to encourage further growth opportunities to the smart water meter industry. Most of this demand is expected to originate from water utilities as they have larger budgets as compared to the industrial and residential consumers. 

The application of these meters incorporates water utilities, industrial and residential buyers. The improved data quality, two-way communication benefits and high frequency of information related to leak detection as compared to AMR metering is further bolstering the demand for AMI meters.

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IoT and MEA providing growth opportunity

The smart water meter industry is, all things considered, subject to communication technology. The new time of internet of things (IoT) has been displaying growth opportunity for this industry. The IoT can be generally valuable in the locales having vulnerability about rain as it helps the advantageous utilization of rain water. The water establishment IoT helps water utilities by upgrading water quality, supply, treatment, transportation and storerooms. IoT can be to a great extent helpful in drought influenced places, for example, California in the U.S.

The smart water meter market in Middle-East and Africa (MEA) is projected to develop altogether amid the forecast time. MEA represents the smallest market among all the other regions included in the study. The growing concern for water conservation, particularly in Middle-East, is bolstering the market growth amid the forecast period. The smart water meter organizations, for example Kamstrup and Cyan, are entering the MEA market owing to the realized growth potential in the region. Iran is among the precursors in the adoption of smart meters, though Saudi Arabia is the largest smart water meter market in the region.

Intensity of rivalry is moderate

Owing to an average number of smart water meter manufacturers, the intensity of rivalry is medium. Since, the worldwide smart water meter market opens growth opportunities in future, it is expected that manufacturers will make new investments and launch advanced smart water meters, thus creating high intensity of rivalry. Most of these meter companies operate globally, which further increases the level of rivalry in the market.

CNG and LPG Vehicle Market - Explore Global Industry Research Report Analysis Report Growth and Demand Forecast to 2022

The global CNG and LPG market was valued at 45,952.4 thousand units in 2015, and it is expected to grow at a CAGR of 10.1% during 2016 - 2022. Increasing population and urbanization, growing demand for passenger and commercial vehicles mainly in developing economies, and stringent emission control norms across the globe are expected to drive the demand for CNG and LPG vehicles over the forecast period. 

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The global demand for CNG and LPG vehicle is fueled by the unstable conventional fuel prices, which is driving the interest of people towards using CNG and LPG vehicles, as the overall price of CNG and LPG when compared to the cost of either gasoline or refined diesel fuels is low. Increase in the development of the infrastructure network for CNG and LPG fueling stations is expected to drive the demand for CNG and LPG vehicles in the coming years.

Europe was the largest market for CNG and LPG vehicles in 2015. The major reason for the growth of the market in Europe includes high cost for diesel and stringent regulation by EU for low emission across the Europe. CNG and LPG vehicle market in South America is expected to increase at a significant rate, driven by growing automotive industry and increasing infrastructure for CNG and LPG fueling stations.

Asia-Pacific was the second largest market for CNG and LPG vehicle in 2015. The infrastructural developments and high investments from major OEMs have fuelled the growth of personal and passenger vehicles, and thus the CNG and LPG vehicles market in the region.

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Some of the major players operating in the global CNG and LPG vehicle market include Ford Motor Company, Suzuki Motor Corporation, Fiat Chrysler Automobiles NV, Honda Motor Company, Volkswagen Group, Hyundai Motor Group, General Motors Company, Groupe Renault, Kia Motors Corporation, Mercedes-Benz, The Volvo Group, Isuzu Motors Ltd. and Toyota Motor Corporation and Mitsubishi Motors Corporation.

GLOBAL CNG AND LPG VEHICLE MARKET SEGMENTATION
By Fuel Type

• LPG
• CNG

By Vehicle Type

• Passenger Car
• Light & Heavy Duty Trucks
• Bus

GEOGRAPHICAL SEGMENTATION

• Europe
• Asia-Pacific
• South America
• Middle East and Africa (MEA)
• North America

Explore Industry Insights in Global Helicopter Market by Type (Civil Helicopter, Military Helicopter) - Growth and Demand Forecast to 2023

According to the study, the global helicopter market is likely to grow at a CAGR of 3.4% during 2017 – 2023. Technological advancements, ageing helicopter fleet, and increasing usage of helicopters in disaster relief are driving the global helicopter market. The market is further expected to gain revenue due to the increasing customer compliance for more equipped and sophisticated avionics and flight safety. Although, there has been a drop in the number of new fleet during 2013 – 2016, increased demand from developing nations would create ample opportunities for the global helicopter manufacturers.

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As per the findings of research, military helicopter held the larger share in the global helicopter market in 2016, primarily due to high value to volume ratio and increased demand from emerging economies in Asia-Pacific and increased need for advanced defense equipment. Civil helicopters market is expected to witness higher growth during 2017 – 2023. The highest growth of civil helicopter is attributed to the increasing demand in law enforcement, tourism, medical services, general utility and firefighting. However, the ongoing crisis in the oil and gas industry may lead to slower adoption of new fleet, especially large and heavy helicopters.

Geographically, North America has been the largest market for helicopter, with the U.S. being the larger contributor to the regional market, compared to Canada. Retirement of old generation helicopters is expected to create opportunities for the North American helicopter market. Majority of operators in North America are planning to increase the use of helicopters, especially civil helicopters; leading to a steady growth of the market in the region. The emerging economies of Latin America and Asia-Pacific, especially Brazil, China and India, are expected to witness high demand for civil helicopters for various applications such as law enforcement, tourism, medical services, general utility and firefighting. Latin American civil helicopter market is expected to witness the highest growth during 2017 - 2023.

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Some of the other key players in the market include Bell Helicopter Textron Inc., Korea Aerospace Industries, Ltd., Airbus SE, Russian Helicopters, Leonardo S.p.A., The Boeing Company, Lockheed Martin Corporation, Robinson Helicopter Company, Hindustan Aeronautics Limited, MD Helicopters, Inc., and Kaman Corporation.

Global Adaptive Cruise Control (ACC) Market Size, Share, Development, Growth and Demand Forecast to 2023

As per the research, the global adaptive cruise control market high is likely to grow from $4,767.0 million in 2016 to $15,290.0 million by 2023. The rapidly growing automotive industry especially in emerging economies of India, China, Brazil is generating significant demand for vehicle fitted with adaptive cruise control. Increasing number of road accident and awareness to safety systems is also driving the market.  

Vehicle safety regulations and initiatives by various associations and trade unions are backing the increasing installations of adaptive cruise control (ACC) systems in vehicles. Governments and associations across the globe have been increasingly formulating multi-dimensional policies toward vehicle and passenger safety, increasing fuel efficiency and improving overall performance of the vehicle.

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As per the findings of research, the global adaptive cruise control market has been segmented into technology, application, end-use and region. In 2016, radar segment accounted for the largest share in global adaptive cruise control market and garnered 33.7% share in the global market. On the other hand, lidar segment is expected to witness the fastest growth in the global adaptive cruise control market.

The major factors driving the growth of the radar and lidar is increasing adoption of adaptive cruise control system in passenger car and commercial vehicles. Passenger cars is the dominating segment in the adaptive cruise control market.

Merger and acquisition and strategic partnerships have been the major recent developments in the global adaptive cruise control market. For instance, Delphi Automotive PLC acquired Movimento, one of the leading supplier of Over-the-Air (OTA) software and data management systems for the automotive industry in Jan 2017. The acquisition of Movimento will strengthen Delphi’s presence in the vehicle connectivity market. Prior to this in Oct 2016, Denso Corporation and Toshiba Corporation entered in a partnership agreement to develop an artificial intelligence technology called Deep Neural Network-Intellectual Property (DNN-IP). 

The new technology will use in image recognition systems which was earlier developed by companies individually to expand their presence in the advanced driver assistance system market. Earlier in Jan 2016, Magna International acquired one of Getrag Group of Companies. Getrag is a one of the leading suppliers of vehicle transmission systems. Magna completed the deal at the purchase price, which was $1.9 billion. Getrag serves all the major automotive giants such as BMW, Audi, Jiangling Motors, Ford, Volvo and Dongfeng.

Asia-Pacific (APAC) Electric Scooters and Motorcycles - Market Size, Share, Development, Growth, and Demand Forecast, 2013-2025

The growth of the market is majorly driven by the rising urbanization in the growing economies of the APAC region such as India and China, the increasing demand for the means of transport in small cities in the APAC region, and the growing environmental concern and awareness.

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On the basis of battery type, the APAC electric scooters and motorcycles market is segmented into sealed lead acid (SLA) and lithium-ion (Li-ion) batteries. Among these, the volume sales of the SLA category accounted for a larger share, accounting for 85% contribution in 2017. However, the Li-ion category is expected to grow at a faster rate when compared to the SLA category during the forecast period, owing to their light weight and longer expected life.

On the basis of technology, the APAC electric scooters and motorcycles market is segmented into plug-in and battery types. Among these, the plug-in category recorded higher sales by volume, accounting for more than 90% share in the market in 2017. The category is expected to continue its dominance in terms of size against the battery category during the forecast period as well, owing to ease of convenience and the lack of battery swapping infrastructure in the region.

Governments of various countries in the region have been trying to raise awareness among the masses to adopt eco-friendly means of transport (electric, and hybrid-electric) through their awareness programs and initiatives..

Some of the key players in the APAC electric scooters and motorcycles market are Yadea Group Holdings Ltd., AIMA Technology Group Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Dongguan Tailing Electric Vehicle Co. Ltd., and VMOTO Limited.