In 2020, following the corona virus pandemic, the new forecasts for passenger car sales in Saudi Arabia was approximately *** thousand units. The forecasts of passenger car sales for that year previous to the pandemic was about *** thousand units.

Out of 575 survey participants in the U.S. who delayed purchasing a new vehicle during COVID-19 restrictions in 2020, nearly half of the participants claimed that they would feel comfortable buying a vehicle from a dealership within ** days of the restrictions being lifted. Only ***** percent of respondents said that they would wait at least six months after restrictions have been lifted. Restrictions in the U.S. Like many countries worldwide, measures to slow down and control the spread of COVID-19 on a national scale were implemented across several U.S. states. Such measures included the temporary closure of schools, bars, restaurants, and movie theaters, along with the cancellation or postponement of several large public events. While online activity in the U.S. has steadily increased during the pandemic, e-tailers in the automotive industry are predicting a decrease in sales: projected auto sales growth for 2020 in the U.S. are anticipated to be **** percent below the level *** year earlier. Post-lockdown behavior Respondents in this survey were also asked whether they would feel comfortable performing other activities after COVID-19 restrictions were lifted. A total of ** percent of respondents stated that they were comfortable buying a vehicle from a dealership within a month of restrictions being lifted, ** percent claimed that they would feel comfortable returning to work, ** percent would dine in at a restaurant, and only ** percent would travel via airplane.

Worldwide car sales grew to around ** million automobiles in 2024, up from around **** million units in 2023. Throughout 2020 and 2021, the sector experienced a downward trend on the back of a slowing global economy, while COVID-19 and the Russian war on Ukraine contributed to shortages in the automotive semiconductor industry and further supply chain disruptions in 2022. Despite these challenges, 2023 and 2024 sales surpassed pre-pandemic levels and are forecast to keep rising through 2025 and 2026. Covid-19 hits car demand It had been estimated pre-pandemic that international car sales were on track to reach ** million. While 2023 sales are still far away from that goal, this was the first year were car sales exceeded pre-pandemic values. The automotive market faced various challenges in 2023, including supply shortages, automotive layoffs, and strikes in North America. However, despite these hurdles, the North American market was among the fastest-growing regions in 2024, along with Eastern Europe and Asia, as auto sales in these regions increased year-on-year. Chinese market recovers After years of double-digit growth, China's economy began to lose steam in 2022, and recovery has been slow through 2023. China was the largest automobile market based on sales with around **** million units in 2023. However, monthly car sales in China were in free-fall in April 2022 partly due to shortages, fears over a looming recession, and the country grappling with the COVID-19 pandemic. By June of that same year, monthly sales in China were closer to those recorded in 2021.

In 2020, motor vehicle sales dropped worldwide, following mobility restrictions amidst the COVID-19 pandemic. Latin American countries were also impacted, although in different levels. In the region's largest vehicle markets, namely Brazil and Mexico, sales decreased by **** and **** percent, respectively, when compared to the previous year. Meanwhile, in Ecuador and Costa Rica, sales of light and heavy motor vehicles declined by more than ** percent. In contrast, in Uruguay, motor vehicles sales registered a year-over-year drop of ** percent.

In December 2023, approximately *** million passenger cars and ******* commercial vehicles were sold in China, an increase compared to the previous month. Automobile demand in China China is home to the world’s largest market for automobile sales. Despite the recent decline in passenger car sales in China during the COVID-19 pandemic, the market bounced back and in 2023, the sales exceeded ** million units, making it the highest figure in the past years. Chinese car manufacturers China’s automobile market used to be dominated by international car manufacturers until recently. In 2021, Chinese manufactured vehicles had a market share of about **** percent in the Chinese vehicle market, followed by German vehicles and Japanese vehicles. The leading passenger car manufacturer is FAW-Volkswagen, which reported sales of about *** million vehicles in the same period.

The U.S. auto industry sold nearly ************* cars in 2024. That year, total car and light truck sales were approximately ************ in the United States. U.S. vehicle sales peaked in 2016 at roughly ************ units. Pandemic impact The COVID-19 pandemic deeply impacted the U.S. automotive market, accelerating the global automotive semiconductor shortage and leading to a drop in demand during the first months of 2020. However, as demand rebounded, new vehicle supply could not keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia's war on Ukraine lead to gasoline price hikes. During that same period, inflation also impacted new and used car prices, pricing many U.S. consumers out of a market with increasingly lower car stocks. Focus on fuel economy The U.S. auto industry had one of its worst years in 1982 when customers were beginning to feel the effects of the 1973 oil crisis and the energy crisis of 1979. Since light trucks would often be considered less fuel-efficient, cars accounted for about ** percent of light vehicle sales back then. Thanks to improved fuel economy for light trucks and cheaper gas prices, this picture had completely changed in 2020. That year, prices for Brent oil dropped to just over ** U.S. dollars per barrel. The decline occurred in tandem with lower gasoline prices, which came to about **** U.S. dollars per gallon in 2020 - and cars only accounted for less than one-fourth of light vehicle sales that year. Four years on, prices are dropping again, after being the highest on record since 1990 in 2022.

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The online car buying market share is expected to increase by USD 214.41 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.4%.

This online car buying market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the online car buying market segmentations by Class Type (pre-owned and new vehicle) and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The online car buying market report also offers information on several market vendors, including American City Business Journals Inc., Asbury Automotive Group Inc., AutoNation Inc., CarGurus Inc., CarMax Inc., Cars & Bids LLC, Cars.com Inc., Cars24 Services Pvt. Ltd., CarSoup of Minnesota Inc., Carvago, Carvana Co., Cox Enterprises Inc., eBay Inc., Edmunds.com Inc., Hendrick Automotive Group, Lithia Motors Inc., MH Sub I LLC, Miami Lakes Automall, and TrueCar Inc., among others.

What will the Online Car Buying Market Size be During the Forecast Period?

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Online Car Buying Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global online car buying market.

Key Online Car Buying Market Driver

The increasing adoption of e-commerce and technological advancements in online channels are key factors driving the global online car buying market growth. Technological advancements such as the development of smartphones and rising Internet penetration are spurring the use of e-commerce applications to boost the sales of businesses, while the introduction of hybrid and electric vehicles has changed the buyers' position in the global online car buying market. With the aid of online technology, consumers are learning more about the vehicle, the on-road prices of new automobiles, residual value, third-party profit margins, and other factors for used cars. Additionally, growing urbanization, an increase in Internet connectivity, and the growth of the telecom industry have made it possible for the general public to access information much more easily. Online car dealers are increasingly using these factors to advertise their vehicles and disseminate information about them. The sale process has been streamlined on web platforms, which also makes it possible for more stakeholders to sell and acquire used cars. Thus, the growing e-commerce industry and the increasing adoption of technological advancements by vendors will propel the growth of the global online car buying market during the forecast period.

Key Online Car Buying Market Trend

Easy online financing will fuel the global online car buying market growth. Financing options are widely available on many car-buying websites, which encourages customers to get preapproval for loans before they even start looking for cars on their websites. According to a survey, 71% of customers choose to finance through the site where they purchased their car. These customers are highly satisfied with the financing options available on car-buying websites. Hassle-free loan applications and favorable interest rates attract more customers to opt for online financing options. For instance, AutoNation Inc. provides hassle-free auto financing options for every customer according to his or her needs and requirements. The company offers a wide range of finance programs that makes auto financing simple and clear. To provide a variety of financing and leasing alternatives, AutoNation has partnered with hundreds of banks in the US. Owing to such easy financing options, customers are attracted to online car-buying options. Thus, the availability of hassle-free and paperless online auto finance provided by car-buying websites will fuel the growth of the global online car buying market during the forecast period.

Key Online Car Buying Market Challenge

Limited customer awareness and acceptance in semi-urban and rural areas are the major challenges to the global online car buying market growth. Buying a car online is still an urban concept despite its prevalence and its numerous advantages. The acceptance of buying a car through online channels is low in semi-urban and rural areas. Buying cars online has not penetrated a large portion of the population, particularly in developing countries such as India. In emerging economies, including India, China, and Indonesia, a car is considered a status symbol. Thus, customers in such countries generally prefer to buy a car through physical stores where they can physically inspect the features of the car. For the middle-class population, buying a car is a major in

Arabam.com

It is a site that people can sell their own cars. There are around 150000 cars at all times. I scraped only around 50000 of them. Arabam.com

Explanation

There are prices of cars as Turkish Lira. If you want to exchange to dollar, you can use a 1/7.4 ratio.

Scraping

I used Excel VBA while I was scraping.

Inspiration

I had been thinking that why don't people use statistical tools while they buy something then I decided to scrap the prices of cars. Nowadays, the prices of cars increase relentlessly because of COVID 19. People do not want to use public transport and the owners of cars who know that, want to win much more money. At least, if people take account in which the car's price is so high than the mean or median, they aren't be fooled while they bargain.

Motor Vehicle Sales: Exports and Locally Mfg data was reported at 197,122.000 Unit in Feb 2025. This records an increase from the previous number of 160,632.000 Unit for Jan 2025. Motor Vehicle Sales: Exports and Locally Mfg data is updated monthly, averaging 149,763.000 Unit from Jan 1981 (Median) to Feb 2025, with 530 observations. The data reached an all-time high of 383,535.000 Unit in Aug 2012 and a record low of 35,585.000 Unit in Apr 1985. Motor Vehicle Sales: Exports and Locally Mfg data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Global Database’s Brazil – Table BR.RAB001: Automobile Sales. [COVID-19-IMPACT]

Connected Vehicle Sales Enablement Platform Market Outlook

According to our latest research, the global Connected Vehicle Sales Enablement Platform market size reached USD 3.7 billion in 2024, reflecting a robust surge in adoption across the automotive value chain. The market is experiencing a strong upward trajectory, with a compound annual growth rate (CAGR) of 15.2% projected from 2025 to 2033. By the end of 2033, the market size is forecasted to reach USD 13.2 billion. This expansion is primarily driven by the growing integration of digital technologies within automotive sales processes, coupled with the rising demand for seamless, data-driven customer experiences in both developed and emerging markets.

The rapid proliferation of connected vehicles globally is a significant growth factor for the Connected Vehicle Sales Enablement Platform market. As vehicles evolve into sophisticated, data-rich platforms, automotive OEMs and dealerships are increasingly leveraging advanced sales enablement solutions to streamline operations, personalize customer engagement, and optimize sales funnels. The integration of IoT, AI, and big data analytics within these platforms allows stakeholders to capture real-time vehicle and customer data, leading to more informed decision-making and improved conversion rates. The shift towards digital retailing, accelerated by changing consumer behaviors and the impact of the COVID-19 pandemic, has further cemented the necessity for robust sales enablement platforms in the automotive sector.

Another key driver for market growth is the escalating adoption of electric vehicles (EVs) and the corresponding need for specialized sales enablement solutions tailored to this segment. As EVs present new challenges and opportunities in terms of customer education, charging infrastructure, and after-sales service, connected vehicle sales enablement platforms are evolving to address these unique requirements. Enhanced features such as remote diagnostics, predictive maintenance, and personalized after-sales offerings are becoming integral to the sales process, enabling OEMs and dealerships to differentiate themselves in a highly competitive market. Moreover, the growing emphasis on sustainability and regulatory compliance is compelling automotive players to invest in solutions that support transparent, efficient, and customer-centric sales journeys.

The evolution of cloud computing and advanced deployment models is also propelling the Connected Vehicle Sales Enablement Platform market forward. Cloud-based platforms offer unparalleled scalability, flexibility, and cost-efficiency, allowing automotive enterprises—ranging from large OEMs to small dealerships—to deploy and manage sophisticated sales enablement tools without significant upfront investments. The ability to integrate seamlessly with existing CRM, ERP, and inventory management systems further enhances operational efficiency and enables a unified view of the customer lifecycle. As the automotive industry continues to embrace digital transformation, the demand for interoperable, cloud-native sales enablement solutions is expected to rise, fostering innovation and market expansion.

Regionally, North America and Europe remain at the forefront of market adoption, driven by high vehicle connectivity rates, mature automotive ecosystems, and proactive digitalization strategies among OEMs and dealerships. However, the Asia Pacific region is emerging as a high-growth market, underpinned by rapid urbanization, increasing vehicle sales, and significant investments in smart mobility infrastructure. The presence of leading automotive manufacturers, coupled with a burgeoning middle class and rising consumer expectations, is fueling the demand for connected vehicle sales enablement platforms across the region. Latin America and the Middle East & Africa are also witnessing gradual uptake, supported by growing digital penetration and government initiatives aimed at modernizing the automotive sector.

Component Analysis

The Connected Vehicle Sales Enablement Platform market is segmented by component into software, hardware, and services. The software segment holds the largest market share, accounting for over 55% of total revenue in 2024, due to the increasing demand for advanced analytics, customer relationship management, and sales automation tools. Software solutions are pivotal in enabling automotive enterprises to capture, process, and analyze vast amounts of vehi

As of October 2020, North American auto demand was around 2.5 million units below 2019 levels. In terms of production in North America's largest market, output in the U.S. automotive industry was roughly 4,300 units in April 2020. U.S. plants reopened after a nine-week shutdown amid the coronavirus outbreak in the United States.

In 2020, vehicle sales decreased dramatically due to the COVID-19 pandemic. Therefore, several voices have demanded a vehicle subsidy similar to the “environmental subsidy” in Germany in 2009. The ecological efficiency of vehicle subsidies is controversially discussed. This paper establishes a prognosis of the long-term environmental impacts of various car subsidy concepts. The CO2 emissions of the German car fleet impacted by the purchase subsidies are determined. A balance model of the CO2 emissions of the whole car life cycle is developed. The implementation of different subsidy scenarios directly affects the forecasted composition of the vehicle population and, therefore, the resulting life-cycle assessment. All scenarios compensate the additional emissions required by the production pull-in within the considered period and, hence, reduce the accumulated CO2 emissions until 2030. In the time period 2019–2030 and for a total number of 0.72 million subsidized vehicles—compensating the decrease due to the COVID-19 pandemic—savings of between 1.31 and 7.56 million t CO2 eq. are generated compared to the scenario without a subsidy. The exclusive funding of battery electric vehicles (BEVs) is most effective, with an ecological break-even in 2025.

Passenger Car Dealer Portal Software Market Outlook

The global passenger car dealer portal software market is projected to see substantial growth, with the market size expected to expand from USD 1.5 billion in 2023 to USD 3.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 10.5%. This impressive growth can be attributed to several factors, including the increasing digital transformation within the automotive industry, rising consumer expectations for online services, and the need for improved operational efficiencies among car dealers. As the automotive sector embraces digital solutions, dealer portal software is becoming increasingly critical in managing relationships, sales processes, and service operations effectively.

A primary growth factor driving this market is the rapid evolution and adoption of digital technologies across the automotive sector. With the proliferation of internet services and the increasing penetration of smart devices, consumers now demand seamless digital experiences, even in the car buying and servicing processes. This has compelled car dealers to adopt comprehensive dealer portal software that facilitates a smooth, digital customer journey from inquiry to purchase and beyond. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) into these platforms enhances the personalization and efficiency of dealer services, further propelling market growth.

Another significant growth driver is the shifting consumer preference towards online car buying and related services. In an era where convenience and speed are paramount, online car dealerships are becoming increasingly popular. Dealer portal software plays a crucial role in enabling dealers to maintain a competitive edge in this digital marketplace by offering robust features for inventory management, customer relationship management (CRM), and sales processing. Additionally, the COVID-19 pandemic accelerated the shift towards online-first strategies, leading to a permanent change in how car dealerships operate and increasing reliance on dealer portal software solutions.

The market is also fueled by the rising need for operational efficiency among car dealers. With fierce competition and thin margins, dealers are under pressure to streamline their operations and reduce costs. Dealer portal software helps achieve this by automating various administrative tasks, improving inventory management, and optimizing sales and financing workflows. This not only enhances dealer profitability but also improves customer satisfaction by enabling faster and more accurate service delivery. As dealers continue to invest in technology to gain a competitive advantage, the demand for sophisticated dealer portal solutions is set to rise steadily.

The integration of a Dealer Management System (DMS) is pivotal for car dealerships aiming to streamline their operations and enhance customer satisfaction. A DMS serves as a centralized platform that manages various dealership functions, including inventory, sales, finance, and customer relations. By automating routine tasks and providing real-time data insights, a DMS helps dealers make informed decisions, optimize their processes, and improve overall efficiency. As the automotive industry becomes increasingly digital, the adoption of robust DMS solutions is expected to grow, enabling dealers to stay competitive and meet the evolving demands of tech-savvy consumers.

Regionally, North America holds a significant share of the passenger car dealer portal software market, driven by the high adoption rate of digital technologies and the presence of major automotive manufacturers. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period, propelled by a burgeoning automotive market, rapid digital transformation, and increasing consumer demand for online services. Emerging markets in Latin America and the Middle East & Africa are also witnessing growing interest in digital dealer solutions, although market penetration remains relatively lower compared to developed regions.

Deployment Type Analysis

The deployment type segment of the passenger car dealer portal software market is bifurcated into on-premises and cloud-based solutions. On-premises deployment has traditionally been favored by large dealerships with significant IT infrastructure and resources. This deployment type allows for greater control over data security and s

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The automotive e-retail market share is expected to increase by 21647.32 thousand units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 17.49%.

This automotive e-retail market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive e-retail market segmentations by product (passenger cars and two-wheelers) and geography (North America, APAC, Europe, South America, and MEA). The automotive e-retail market report also offers information on several market vendors, including Alibaba Group Holding Ltd., Asbury Automotive Group Inc., AutoNation Inc., eBay Inc., Group 1 Automotive Inc., Hendrick Automotive Group, Lithia Motors Inc., Penske Corp., Scout24 AG, and TrueCar Inc. among others.

What will the Automotive E-retail Market Size be During the Forecast Period?

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Automotive E-retail Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The ease and convenience of buying cars and two-wheelers online is notably driving the automotive e-retail market growth, although factors such as cost pressure on vendors due to price sensitivity may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive e-retail industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive E-retail Market Driver

The ease and convenience of buying cars and two-wheelers online is a major factor driving the global automotive e-retail market share growth. The advantages and benefits associated with buying cars and two-wheelers online drive the growth of the global automotive e-retail market. The emergence of various e-commerce platforms has increased the sales of several products. Most products and services can be purchased online due to the wide penetration of e-commerce companies in various industries, such as electronics, apparel, groceries, and automobiles. Several new automotive retailers launched their e-commerce platforms in the last decade. The number of automotive retailers that sell cars increased due to a rise in Internet penetration, improvements in infrastructure, and changes in customer lifestyle. Customers prefer purchasing vehicles online due to convenience. They do not have to visit dealerships to compare vehicles, test drive their choices, and seek advice about financing options. On online platforms, customers can select vehicles, compare features and specifications, and request for a test drive. Most vendors allow customers to trade-in or sell their old vehicles. They also provide financing options such as EMIs and accept full online payments. Such benefits drive the growth of the global automotive e-retail market.

Key Automotive E-retail Market Trend

The popularity of automotive e-retail in APAC is another factor supporting the global automotive e-retail market share growth. APAC dominates global e-commerce sales. The presence of a large consumer base, the untapped of the market, improvements in infrastructure, increasing disposable incomes and improvements in socioeconomic conditions drive the growth of the e-commerce market in APAC. The popularity of automotive e-retail is increasing in the region, especially in fast-growing automotive markets such as China and India. For instance, Alibaba, an online retailer that is based in China, now provides vehicles on its online platform. Customers in China can book or buy new vehicles through the company's website. Several electric vehicle manufacturers that are in China have partnered with Alibaba to sell their vehicles online as the demand for electric vehicles is high in the country, which is the largest market in the world. In India, online retailers such as Paytm offer customers the option to book new vehicles of various brands through their online portal. Paytm offers various models of brands such as RIPL and Tata Motors Ltd. The popularity of online vehicle sales is expected to result in several e-commerce companies selling vehicles online, which will drive the growth of the market during the forecast period.

Key Automotive E-retail Market Challenge

The cost pressure on vendors due to price sensitivity will be a major challenge for the global automotive e-retail market share growth during the forecast period. Vendors are facing cost pressure, amid intense competition, to gain a competitive advantage. They are looking to attract new customers as well as increase sales by offering lower selling prices and discounts

Electric Vehicles (EVs) surpassed 3.1 million sales in 2020, with majority of demand derived from Europe. Europe represents more than 45% of the global electric car sales, followed by China and the US. Europe surpassed China in EV sales in 2020 with 1.4 million EVs sold. The growth was driven by both existing policies and COVID stimulus measures. Globally, EV sales grew 40.9% YOY and accounted for 4% of car sales in 2020. However, large scale commercial production of EVs by the big car makers is unlikely to take off until 2025.
The COVID-19 pandemic outbreak caused a decline in the global auto industry, yet electric car sales did the opposite. The growth was supported by quick recovery in China and strong growth in Europe. Over the long term, EV market share is also more likely to increase in China and Europe compared to the US. Innovations in battery technology coupled with favorable regulatory policies will drive EV costs down, which in turn will drive increased adoption. Battery manufacturing is also ramping up, especially in Europe. The region is catching up with Asian rivals in battery manufacturing but requires more efforts to build a complete supply chain.
Power utilities, EV charging point operators, automakers, and EV charging hardware manufacturers, along with other auto industry stakeholders are also supporting increased investment into EV charging infrastructure. Utilities have an important role to play in boosting vehicle electrification. There is a lot of opportunity for those willing to invest in EV infrastructure and customer engagement. With planned investments and policies, the companies will be able to serve new markets. Power utilities are collaborating with EV manufacturers for boosting their offerings in areas such as EV charging, vehicle-to-grid (V2G) services, energy storage and renewable energy sources. Read More

According to Cognitive Market Research, the global automotive LED controllers market will grow and expand at a growth rate or compound annual growth rate (CAGR) of 23.8% from 2023 to 2030. Strict Governmental Lighting Regulations for Improved Sight and Security to Accelerate Market Progress

A significant market driver for Automotive LED Controllers has been Strict lighting rules, which have driven industrialized countries to invest in the global automotive lighting business. Vehicle illumination is critical, especially while traveling on busy highways. Road accidents are a source of concern for governments all around the world.

The World Health Organization (WHO) says road accidents kill 1.3 million people yearly. Road accidents cost most countries 3% of their GDP.

(Source: who.int/news-room/fact-sheets/detail/road-traffic-injuries)

As a result, improving driving conditions is critical, which may be accomplished in part by upgrading the lighting system. To improve road safety, the European Union mandated Daytime Running Lights (DRLs) on every new motor vehicle in 2011.

Market Dynamics of Automotive LED Controller

Costly Nature of LED Lights Is Limiting Market Growth

LED bulbs emit a lot of heat, regulated by adding extra cooling equipment, raising the cost of LED lighting and limiting its expansion during the anticipated period. LED growth is further hampered by high voltage sensitivity throughout the anticipated timeframe. LED lights require a current less than the specified ratings and a voltage greater than the threshold. LED's need for a specialized power supply is expected to degrade its quality and limit its market expansion. The high cost of LED lights is a major issue for the automotive lighting sector. LED bulbs are utilized with projector headlights, which are more costly than reflector headlights and take up more interior space. Meanwhile, halogen, xenon, and LED lights are widely utilized lighting technologies in high-end or luxury automobiles due to benefits such as lower power consumption, cooler temperatures, and LED lights longer self-life.

Impact of COVID-19 on the Automotive LED Controller Market

The worldwide automotive supply chain saw significant growth fluctuations due to the COVID-19 epidemic. The pandemic hampered worldwide manufacturing and global automobile sales. Manufacturing facilities were closed, and new car sales were suspended, hurting the manufacture of vehicle lighting components. Demand for conventional and electric automobiles fell in 2020, affecting the market. Furthermore, the R&D budget was severely slashed, stifling research and development of innovative vehicle lighting systems. The need for lighting is generally proportionate to vehicle output. Vehicle manufacturing and sales have dropped significantly after the emergence of COVID-19, with a 14% drop projected in 2020. Introduction of Automotive LED Controller

New car part designs contain more electronics in considerably smaller sizes than previously. LED modules are being built with a complex light pattern that can be quickly modified with new circuit models to suit market trends while making optimal utilization of design resources. Reduced space is becoming a barrier for LED for automobile makers, and it can only be overcome by integrating LED controller building blocks that are set up quickly and allow interaction between the LED controller IC and the LEDs. Advanced LED controllers in car lighting utilize LED driver technology to deliver low-power, long-lasting, high-efficiency illumination that complies with all road safety criteria and vastly enhances driving pleasure.

For instance, Allegro MicroSystems, LLC, an established supplier and developer of powerful semiconductor remedies, introduced the A6271 DC to DC converter controller for cars' exterior lighting systems, which include fog lights, daylight running lights (DRLs), changing lights, position lights, and headlamps in August 2015. The LED controller has a programmed constant current output that may be used to drive high-power LEDs in series.

(Source: www.allegromicro.com/en/products/regulate/led-drivers/led-drivers-for-lighting/a6271-1)

As the e-commerce industry becomes a prominent platform for converting sales globally amid the Covid-19 pandemic, attitudes toward buying a car online remain considerably hesitant, according to a survey conducted by Capgemini in May 2020. Respondents from the UK, at ** percent, proved less likely to buy their future cars online from an OEM (original equipment manufacturer) or dealership, while respondents from India (** percent) and China (** percent) claimed they would buy their car online in the future. It is clear from these statistics that some reluctance toward purchasing cars online in the future still remains.

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The automotive mirror system market share is expected to increase by USD 22.72 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2%.

This automotive mirror system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive mirror system market segmentation by product (exterior and interior) and geography (APAC, Europe, North America, South America, and MEA). The automotive mirror system market report also offers information on several market vendors, including Ford Motor Co., General Motors Co., Gentex Corp., Kappa optronics GmbH, Magna International Inc., Motherson Sumi Systems Ltd., Murakami Corp., Robert Bosch GmbH, Stoneridge Inc., and Valeo SA among others.

What will the Automotive Mirror System Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Automotive Mirror System Market Size for the Forecast Period and Other Important Statistics

Automotive Mirror System Market: Key Drivers, Trends, and Challenges

The increase in the sales of passenger cars is notably driving the automotive mirror system market growth, although factors such as side view mirrors are leading to a reduction in fuel economy benefits due to aerodynamic resistance may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive mirror system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Mirror System Market Driver

An increase in the sales of passenger cars is driving the demand for mirror systems is one of the key drivers for the automotive mirror system market growth. The sales of passenger cars are positively correlated with the market growth of automotive mirror systems as each passenger car equipped with two ORVMs, one IRVM, and a vanity mirror (not present in the entry-level variants of the mass-selling cars). Mirror systems in the passenger car segment contribute predominantly to the automotive mirror system market. Global car sales increased by around 3% in 2016, wherein most of the sales have been contributed by the sales of SUVs and crossovers in the Chinese and the European passenger car markets.Sales in the midsized crossover segment in Europe increased by 8% in 2019 to 872,500 units and accounted for 5.6% of the total European car market when compared to 2018. Thus, the rising preference for fuel efficiency and three-row seats in crossovers and SUVs are the main factors driving the SUV and crossover market in the US. Crossovers are more fuel-efficient than SUVs as they are built from the frames of cars and are considerably lighter in weight, which is leading to the growing preference for crossovers over SUVs. The growing demand for SUVs and crossovers is likely to drive the growth of the global automotive mirror system market.OEMs like Toyota have plans to increase the production of their passenger cars.

Key Automotive Mirror System Market Trend

An increase in the popularity of smart rearview mirrors is one of the key trends in the automotive mirror system market growth. Mirror integration option. The Radar-Mirror modification generates alert arrows, which light up through the rearview mirror glass when the K40 radar and laser system detects police speed enforcement. Similarly, Delphi has integrated radars and cameras in Volvo's cars to provide traffic sign recognition, forward collision warning, autonomous braking, and pedestrian detection. Even Bosch has developed a mid-range radar that provides clear visibility of the rear end of the vehicle. The main advantage of the Bosch mid-range radar sensor is its compact design. Other automotive OEMs are also expected to equip their vehicles with such systems to remain competitive in the market. The integration of advanced technology and tools in automotive mirrors will enhance the features of automotive mirrors, and thus, will drive the growth of the market during the forecast period.

Key Automotive Mirror System Market Challenge

Side view mirror is leading to a reduction in fuel economy benefits due to aerodynamic resistance is one of the key challenges for the automotive mirror system market growth. In a vehicle, there are different components that contribute to the drag, which leads to aerodynamic resistance. ORVMs contribute significantly to aerodynamic resistance. The ORVMs increase the aerodynamic resistance by 2%-7% when the vehicle is moving at a speed of more than 60 miles/hour. There are regulations on rearview mirrors due to safety aspects. Thus, they must be positioned in such a way that they can provide clear rear visibility to the drivers. OEMs have been trying to redes

As per Cognitive Market Research's latest published report, Automotive Rocker Panels Industry's Compound Annual Growth Rate will be 4.63% from 2023 to 2030. Factors Impacting on Automotive Rocker Panels Market

The need for vehicles has increased as the population has grown. People rely on automobiles as to commute to work, visit another state, go on vacation, and do daily errands. Vehicles, in reality, are the most extensively utilized equipment for transportation and other basic everyday necessities.

According to the study, global car sales increased to roughly 66.7 million vehicles in 2021, up from around 63.8 million units in 2020. Almost half of the worldwide customers (46 percent) are thinking about buying a car in the next 12 months, up from 35% in April 2020. 

Moreover, due to COVID-19, several people prefer personal vehicles and avoid carpooling, public transport, and ridesharing in order to eliminate the risk of catching a contagious disease while traveling.

Survey results have stated that more than 60% of respondents have stated that they prefer a personal vehicle more after COVID-19 Pandemic. This also has contributed to the growing sales of cars in the global market.

Rocker panels provide structural reinforcement which not only eliminates sagging in the middle of the vehicle but also plays a crucial role in vehicle safety. Thus, with the increasing automotive industry, the demand for rocker panels also increases driving the growth of the market. Introduction of Automotive Rocker Panels:

Rocker panels (also known as rockers) are stamped pieces of metal that strengthen the ride’s structure and also prevent sagging of the middle portion of the automotive body. It is an integral part of the automobile that connects the front and the back structural body of automobiles.

According to Cognitive Market Research, the global Power Steering Fluid market size was USD 1354.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 541.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 406.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 311.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 67.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 27.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The hunting held the highest Power Steering Fluid market revenue share in 2024.

Market Dynamics of Power Steering Fluid Market

Key Drivers for Power Steering Fluid Market

Growing Automotive Production to Increase the Demand Globally

The international automobile enterprise's boom extensively influences strength steering fluid demand. As vehicle manufacturing increases worldwide, the want for strength steerage fluid additionally rises due to frequent fluid replacements and refills. With a larger wide variety of cars on the street, renovation, and repair offerings come to be extra critical, riding up the intake of power steerage fluids. This trend is, in addition, fueled by means of the expansion of car markets in developing regions, in which growing vehicle ownership increases the demand for protection products. Consequently, the burgeoning automobile sector at once correlates with heightened energy guidance fluid intake, reflecting the enterprise's broader effect on associated automotive components and offerings.

Increasing Vehicle Complexity to Propel Market Growth

Modern cars, with their superior electricity steering structures, require higher-satisfactory and specialized strength steering fluids. The increasing complexity of those systems, which often include functions like variable help and digital controls, necessitates fluids that meet unique specifications to ensure sure most effective overall performance and longevity. These advanced systems call for fluids with precise viscosity, thermal stability, and lubricating properties to characterize correctly and preserve system reliability. As car generation evolves, the need for specialized fluids that could deal with the better pressures and more stressful situations of modern electricity steerage structures will become more crucial. This developing requirement for superior fluids drives the marketplace for high-overall performance power steering merchandise and impacts the improvement of recent formulations tailor-made to modern car washes.

Restraint Factor for the Power Steering Fluid Market

Economic Fluctuations to Limit the Sales

Economic fluctuations can substantially influence automobile income and, in flip, the demand for electricity steerage fluids. During financial downturns, purchasers and businesses may also put off or reduce car purchases, main to a decline in new automobile registrations. This drop in sales translates into a decreased call for energy steering fluids, as fewer vehicles require fluid replacements and refills. Additionally, economic challenges can cause reduced spending on automobile upkeep and repairs, further impacting fluid intake. Conversely, in a robust economy with growing vehicle sales, the demand for energy steering fluids usually rises because of higher car utilization and renovation needs. Thus, the car fluid marketplace is closely tied to broader financial situations and automobile sales developments.

Impact of Covid-19 on the Power Steering Fluid Market

The COVID-19 pandemic had an extraordinary impact on the strength steerage fluid market. Lockdowns and regulations led to a great decline in vehicle sales and manufacturing, reducing the call for electricity guidance fluids. The halt in manufacturing and delivery chain disruptions further ...