Battery electric vehicles (BEVs) are projected to incur costs of around 50 euros per 100 km in 2030, the cheapest of all motor vehicles on the road. Vehicles using synthetic fuel that are powered by a mild hybrid electric drivetrain or an internal combustion engine are forecast to be the most expensive.

BEV’s cost advantage Mobility costs refer to the expenditure required for travel; they include costs relating to fuel, tax, insurance, and depreciation. BEVs are expected to be the most cost effective in 2030 due to fewer parts and less exposure to wear and tear. Furthermore, many drivers around the world are already taking advantage of financial incentives offered for switching to electric mobility. In China, the world leader for sales of BEVs, subsidies are available on purchases of new energy vehicles, and in the United States, electric vehicle buyers are eligible for a federal tax credit of up to 7,500 U.S. dollars – a state subsidy that many survey respondents consider to be appropriate. However, policymakers are likely to reduce the subsidies on offer for the purchase of electric vehicles over the next decade.

Hybrid vehicles: the best of both worlds? There are two types of hybrid electric vehicles on the market: mild hybrid electric vehicles (MHEV) and plug-in hybrid electric vehicles (PHEV). Both have an internal combustion engine and an electric engine, but the electric motor within an MHEV is not powerful enough to propel the vehicle on its own; it simply assists the internal combustion engine when fuel consumption is particularly high. The electric engine within a PHEV can be recharged via a charging socket and is capable of powering the car by itself. It is forecast that MHEVs and PHEVs will account for around 21 percent of global car sales in 2030.

Cars with an electrified engine are tipped to account for just under one-fourth of the global market by 2025. It is estimated that pure battery electric vehicles will account for about 7.4 percent of worldwide car sales.
Internal combustion engines are set to lose market share
It is expected that the market share of conventional internal combustion engines will shrink to about 20 percent by 2050, while electric vehicles are projected to account for eight out of ten vehicle sales. Growth in pure battery electric vehicles’ market share shows consumer preference set on fully electric cars. Overall, rising popularity of electrified vehicles could prove vital in carbon dioxide mitigation. Electrified vehicles include cars that may use an electric motor when less power is needed and the main engine could be switched off.

Electrified vehicles are increasingly becoming more competitive
Hybrids have been preferred over battery electric vehicles due to the much larger range of fuel propelled vehicles, but enhanced battery technology of electric vehicle range continues to narrow this gap. Batteries are now also able to power larger cars such as SUVs, enabling new demographics to be targeted.

Automotive Thermal Management Market size was valued at USD 3.11 Billion in 2024 and is projected to reach USD 4.27 Billion by 2031, growing at a CAGR of 4.04% from 2024 to 2031.

The global shift toward electric vehicles (EVs) is propelling the automotive thermal management market. EVs require sophisticated thermal management systems to regulate battery temperatures and assure peak performance and lifetime. This is especially important because battery efficiency and safety are heavily reliant on temperature control, boosting the demand for sophisticated thermal management solutions in the rapidly expanding EV market.

Governments throughout the world are enacting stronger environmental restrictions to limit greenhouse gas emissions, forcing automakers to improve car efficiency. Thermal management systems are crucial for lowering fuel consumption and pollutants in internal combustion engines while also boosting the efficiency of electric components in EVs. As regulations tighten, the demand for effective thermal management solutions increases, driving market growth.

Furthermore, advancements in automotive technology, as well as rising consumer expectations for vehicle comfort and performance, are driving demand for improved thermal management systems. Modern automobiles contain a large number of heat-generating electrical components, and good thermal management is critical to ensuring the reliability and functionality of these systems. Also, consumer desire for consistent cabin comfort regardless of external conditions drives the development and implementation of advanced thermal management technology.

Portugal PT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.708 Tonne in 2023. This records an increase from the previous number of 0.677 Tonne for 2022. Portugal PT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 0.768 Tonne from Dec 2010 (Median) to 2023, with 14 observations. The data reached an all-time high of 0.926 Tonne in 2010 and a record low of 0.621 Tonne in 2020. Portugal PT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Portugal – Table PT.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C.

Italy IT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.597 Tonne in 2023. This records a decrease from the previous number of 0.626 Tonne for 2022. Italy IT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 0.668 Tonne from Dec 2004 (Median) to 2023, with 17 observations. The data reached an all-time high of 0.840 Tonne in 2008 and a record low of 0.525 Tonne in 2020. Italy IT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Italy – Table IT.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C.

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Automotive Alternator Market Size 2024-2028

The global automotive alternator market size is estimated to grow by USD 3.14 billion, at a CAGR of 5.59% between 2023 and 2028. The market's expansion hinges on several factors, notably the escalating integration of electronic components in vehicles, growth of automotive aftermarket, the uptake of either new or upgraded emission standards, and the strategic shift in production to countries offering lower costs. These dynamics collectively propel the automotive industry forward, fostering innovations in vehicle technology, emission control technologies, and cost-effective manufacturing strategies. As electronic systems become more integral to vehicle functionalities, the market responds by enhancing electronic component accessibility and efficiency. Likewise, the pursuit of environmentally friendly practices via stricter emission standards drives advancements in eco-conscious vehicle designs. Lastly, the strategic relocation of production facilities to cost-efficient regions contributes significantly to maintaining market competitiveness and optimizing production expenses.

What will be the Automotive Alternator Market Size During the Forecast Period?

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Automotive Alternator Market Segmentation

The Automotive Alternator market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

Type Outlook 

  IC engine vehicles
  Hybrid & electric vehicles


Application Outlook 

  Passenger cars
  LCVs
  M&HCVs


Region Outlook 

  APAC

    China
    India


  Europe

    The U.K.
    Germany
    France
    Rest of Europe


  North America

    The U.S.
    Canada





  South America

    Brazil
    Argentina





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

The market is a diverse landscape driven by various factors such as vehicle type, including IC engine vehicles, hybrid and electric vehicles, passenger cars, and commercial vehicles. As the automotive industry progresses toward sustainability and addresses environmental concerns, the demand for efficient electrical components like rectifier circuits, stators, and output diodes is on the rise. In the realm of electric vehicles and hybrid powertrain systems, alternators play a crucial role in ensuring optimal performance while adhering to emission norms. They are integral components of electrical systems, working in conjunction with the engine and battery to power various vehicle functionalities. The market also sees influences from economic conditions impacting automotive players and automotive manufacturing industries, fostering joint ventures and strategic alliances. Technological advancements have led to the development of three-phase generators and innovative diode trios that enhance the efficiency of alternators in modern automobiles.

Type Analysis

The IC engine vehicles segment will account for a major share of the market's growth during the forecast period.? An internal combustion engine vehicle (ICEV) is a vehicle that is powered by a regular internal combustion engine (ICE). Since the demand and production of vehicles are high in APAC, the demand for ICEVs and advanced technologies is also high. The drastic shift in the income of the middle class and rapid urbanization are driving the demand for vehicles.

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The IC engine vehicles segment was valued at USD 6.13 billion in 2018. The rising focus of consumers and companies on adopting low-emission and fuel-efficient vehicles has also brought HEVs into the limelight and increased their penetration rate. Moreover, constant government support in the form of grants and subsidies to companies and incentives to consumers has helped in increasing the adoption rate of HEVs. For instance, France, the UK, California, and the US have declared that they will stop the sales of ICE vehicles by 2040.

Application Analysis

The market is constantly undergoing changes in terms of technological development. Technological upgrades are primarily driven by the dynamic nature of emission regulations, fuel efficiency standards, safety standards, and the pressure to decrease production costs. Vehicle makers are focusing on adopting 48V electrical systems to meet the technological advances of automotive electronics used within passenger cars. For instance, Kia Motors launched a diesel 48V mild hybrid powertrain called EcoDynamics+. LCVs are commercial carriers used for transporting goods over short distances, especially within cities and between cities. The compact nature of these vehicles allows easie

In the fourth quarter of 2024, over 365,800 battery-electric vehicles were sold in the United States. This was a year-over-year increase of around 15.2 percent compared to the sales recorded in the fourth quarter of 2023. The fourth quarter of 2024 also recorded a hike in sales compared to the third quarter of that same year, making it the best quarter for BEV sales in the country across the past two years. Global EV Race - Where does the U.S. stand? Over the last few years, consumers have perceived Electric Vehicles (EVs) as a far more appealing option due to their increased range, battery life, variety of models, and affordability. Therefore, the EV market has grown fast in recent years and is forecast to expand to 1.1 trillion U.S. dollars in 2029. Though the global demand for electric cars has been escalating, American sales lag behind Europe and the Asia-Pacific regions. In 2023, Chinese customers bought around 8.1 million plug-in EVs, considerably more than American customers' purchases,around 1.4 million that year. China is the leader of the global EV race, with a substantial 36 percent growth in sales year-on-year in 2023. However, given the market share of electric vehicles in the global automotive industry, this still can be anyone's race. Outlook of the U.S. market There is still a lack of interest in electric vehicles among American buyers compared to European and Asian consumers. In the first quarter of 2021, the share of the battery electric vehicle was 55.1 percentage points more in Norway than in the U.S.. One of the main reasons is that American consumers still anticipate that EVs are more expensive than gasoline vehicles and diesel internal combustion engine cars (ICE). This perception is partially true in the U.S. since the battery production market is highly concentrated in Asia, where the companies have logistical advantages, leading automotive makers to offer better prices. On the other hand, high licensing fees for electric vehicles are another factor affecting the consumption behaviors of automobile purchasers. In many states, the licensing fees for electric cars are considerably higher than their ICE counterparts. EV licensing fees were around 345 U.S. dollars compared to 25 U.S. dollars for standard vehicles in Georgia in 2021. Together, these factors significantly impact the individual perception of electric cars in the United States.

The Internal Combustion Engine (ICE) and Related Filters market is a critical component of the global automotive and industrial sectors, serving as the backbone for a myriad of vehicles and machinery. Internal combustion engines are widely utilized in automobiles, trucks, motorcycles, and various industrial equipmen

Luxury Car Market Trends | Industry Analysis, Size & Forecast Report

Dataset updated: Jun 27, 2024

Dataset authored and provided by: Mordor Intelligence

License: https://www.mordorintelligence.com/privacy-policy

Time period covered: 2019 - 2029

Area covered: Global

Variables measured: CAGR, Market size, Market share analysis, Global trends, Industry forecast

Description: The Luxury Car Market size is estimated at USD 738.63 billion in 2024, and is expected to reach USD 967.65 billion by 2029, growing at a CAGR of 5.55% during the forecast period (2024-2029).

Quantitative Units: Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered: The luxury car market is segmented by vehicle type, drive type, vehicle class, and geography. By vehicle type, the market is segmented into hatchbacks, sedans, sport utility vehicles, multi-purpose vehicles, and other vehicle types (sports, etc.). By drive type, the market is segmented into internal combustion engines and electric and hybrid. By vehicle class, the market is segmented into entry-level luxury class, mid-level luxury class, and ultra-luxury class.

Regions and Countries Covered: North America, Europe, Asia-Pacific, and Rest of the world

Market Players Covered: Key Players Include Mercedes-Benz, BMW, Volkswagen Group, and Tesla.

Switzerland Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.751 Tonne in 2023. This records a decrease from the previous number of 0.755 Tonne for 2022. Switzerland Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 1.067 Tonne from Dec 1994 (Median) to 2023, with 30 observations. The data reached an all-time high of 1.159 Tonne in 1994 and a record low of 0.751 Tonne in 2023. Switzerland Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Switzerland – Table CH.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C. [COVERAGE] VEHICLES Data do not include trolley buses and articulated trolleybuses.

The market for automotive electric vacuum pumps was estimated at USD 6.11 billion in 2023 and is anticipated to grow to USD 10.40 billion by 2030, with a predicted CAGR of 12.2%. Market size, growth, share

Australia Motor Fuel Deliveries: Tonnes per One Million Units of Current USD GDP data was reported at 23.249 Ratio in 2023. This records a decrease from the previous number of 23.782 Ratio for 2022. Australia Motor Fuel Deliveries: Tonnes per One Million Units of Current USD GDP data is updated yearly, averaging 27.676 Ratio from Dec 2003 (Median) to 2023, with 21 observations. The data reached an all-time high of 50.865 Ratio in 2003 and a record low of 21.070 Ratio in 2012. Australia Motor Fuel Deliveries: Tonnes per One Million Units of Current USD GDP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C. [COVERAGE] FUEL DELIVERIES Automotive gasoline sales (including ethanol blended fuels) are used for petrol and automotive diesel estimates are used for diesel. Note that only slightly more than half of total diesel sales are consumed by road vehicles. Original series are measured in megalitres and converted into million tons using for petrol the rates 737.22 kg per m3 and for diesel 885 kg per m3. Revisions were applied in 2017 to the road diesel data to ensure a continuous time series. These changes were due to new legislation that resulted in mandatory reporting of fuel data for businesses meeting reporting criteria. Previously, voluntary survey data were used.

Slovakia SK: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.126 Tonne in 2023. This records a decrease from the previous number of 0.163 Tonne for 2022. Slovakia SK: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 0.179 Tonne from Dec 2013 (Median) to 2023, with 11 observations. The data reached an all-time high of 0.243 Tonne in 2015 and a record low of 0.126 Tonne in 2023. Slovakia SK: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Slovakia – Table SK.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C.

The Automotive On-Board Diagnostics (OBD) market is experiencing robust growth, projected to reach $31.82 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 24.27%. This expansion is fueled by several key factors. The increasing adoption of electric vehicles (EVs) necessitates advanced OBD systems for monitoring battery health, charging efficiency, and motor performance. Furthermore, stringent government regulations mandating emissions control and vehicle safety are driving demand for sophisticated OBD solutions. The rising popularity of telematics and connected car technologies further contributes to market growth, as OBD data is crucial for remote diagnostics, predictive maintenance, and fleet management. The market is segmented by product type (Allied services, OBD port) and vehicle type (Electric Vehicles, Internal Combustion Engine Vehicles – ICEVs, Hybrid Electric Vehicles – HEVs), with the electric vehicle segment exhibiting particularly strong growth. Competition is intense, with major players such as Autel, Bosch, and Continental vying for market share through technological innovation, strategic partnerships, and aggressive expansion strategies. The North American market, particularly the United States, is a significant contributor to overall revenue due to high vehicle ownership and advanced technological adoption. However, emerging markets in APAC, especially China, show substantial growth potential driven by increasing vehicle sales and government initiatives promoting EV adoption. The market faces some challenges, including the high initial investment required for advanced OBD systems and concerns about data security and privacy in connected vehicles. However, ongoing technological advancements and increasing demand for efficient and sustainable transportation are likely to overcome these obstacles. The competitive landscape is characterized by a mix of established automotive component manufacturers, technology companies, and specialized OBD solution providers. Leading companies are focusing on developing integrated solutions that combine OBD functionality with telematics, data analytics, and remote diagnostics capabilities. This trend towards integrated platforms provides significant value to fleet operators, service providers, and individual vehicle owners. Future growth will be significantly shaped by the ongoing integration of Artificial Intelligence (AI) and Machine Learning (ML) into OBD systems, enabling predictive maintenance and more efficient diagnostics. The development of standardized OBD interfaces and communication protocols will also be crucial in driving wider adoption and interoperability across different vehicle platforms and systems. The market’s future growth is expected to be underpinned by increasing consumer awareness of vehicle maintenance, the rise of subscription-based maintenance services leveraging OBD data, and the continued electrification of the global vehicle fleet.

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Automotive Fuse Market Size 2024-2028

The automotive fuse market size is forecast to increase by USD 5.21 billion at a CAGR of 4.5% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) worldwide. These vehicles require a higher number of fuses compared to conventional internal combustion engine (ICE) vehicles due to the presence of expensive high-voltage components. Consequently, there is a growing demand for automotive fuses specifically designed for EVs and HEVs. However, market expansion is not without challenges. One major hurdle is the lack of infrastructure in potential markets, particularly in developing countries, which may limit the adoption of EVs and HEVs and, in turn, the demand for automotive fuses.
Additionally, the market is witnessing intense competition and technological advancements, necessitating continuous innovation to maintain a competitive edge. Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on developing cost-effective, high-performance fuses and expanding their presence in emerging markets. By staying abreast of technological advancements and market trends, they can differentiate themselves and secure a strong market position.

What will be the Size of the Automotive Fuse Market during the forecast period?

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The market is experiencing significant growth, driven by the increasing popularity of electrified vehicles, including electric and hybrid cars. With electrification comes an increased demand for advanced fuse units to support the unique power requirements of these vehicles. Fuel prices and environmental concerns continue to influence consumer preferences toward zero emission vehicles, further boosting market expansion. Major automakers are investing heavily in engineering and manufacturing solutions to meet this demand, with Mersen Electric and other key players supplying fuse units for various applications. Safety and comfort features are also becoming increasingly important in automobiles, necessitating the use of sophisticated fuse systems.
The EV industry is expected to continue its upward trajectory, with the global electric vehicles program forecasted to reach record numbers In the coming years. The market for automotive fuses is poised for continued growth, fueled by the ongoing shift towards electrification and the development of advanced battery materials for electric vehicles.

How is this Automotive Fuse Industry segmented?

The automotive fuse industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Vehicle Type

  Passenger vehicle
  Commercial vehicle


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  Middle East and Africa



  South America

By Vehicle Type Insights

The passenger vehicle segment is estimated to witness significant growth during the forecast period.

The market In the passenger vehicles segment is projected to experience significant growth due to rising sales of cars, particularly entry-level models, and the increasing popularity of larger utility vehicles such as SUVs, crossovers, and multipurpose vehicles (MPVs). For instance, new car registrations in Europe increased by approximately 17.8% between June 2022 and June 2023. The expanding functionalities and applications of automotive fuses further contribute to market growth. Electrification trends, including the adoption of electric and hybrid cars, also impact the market. For example, major automakers like General Motors are investing in battery materials and engineering power systems for EVs.

Macroeconomic factors, such as fuel prices and environmental concerns, are driving the shift towards electric vehicles and the EV industry's growth. Safety, comfort features, and advanced electronics, including infotainment systems, are increasingly integrated into modern automobiles, requiring more fuses to ensure proper functionality. The middle-class population's growing purchasing power and the Zero Emission Vehicles Program's implementation further boost the demand for automotive fuses. In summary, the market's growth is influenced by various factors, including electrification, safety, comfort features, and the increasing demand for electric and hybrid cars.

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The passenger vehicle segment was valued at USD 10.29 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 39% to the growth of the global market during the forecast period.

Bulgaria BG: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.790 Tonne in 2019. This records an increase from the previous number of 0.751 Tonne for 2018. Bulgaria BG: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 0.654 Tonne from Dec 2004 (Median) to 2019, with 16 observations. The data reached an all-time high of 0.954 Tonne in 2006 and a record low of 0.537 Tonne in 2013. Bulgaria BG: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Bulgaria – Table BG.OECD.ITF: Motor Fuel Deliveries to Road Sector: Non OECD Member: Annual. FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C.; FUEL DELIVERIES Data refer to motor fuel consumption by the road sector. VEHICLES In 2006 some types of vehicles which have not been re-registered have been officially cancelled from the registration register, that creates a break in the series.

Australia Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 1.882 Tonne in 2023. This records an increase from the previous number of 1.873 Tonne for 2022. Australia Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 1.962 Tonne from Dec 2003 (Median) to 2023, with 21 observations. The data reached an all-time high of 2.021 Tonne in 2003 and a record low of 1.832 Tonne in 2020. Australia Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.ITF: Motor Fuel Deliveries to Road Sector: OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C. [COVERAGE] FUEL DELIVERIES Automotive gasoline sales (including ethanol blended fuels) are used for petrol and automotive diesel estimates are used for diesel. Note that only slightly more than half of total diesel sales are consumed by road vehicles. Original series are measured in megalitres and converted into million tons using for petrol the rates 737.22 kg per m3 and for diesel 885 kg per m3. Revisions were applied in 2017 to the road diesel data to ensure a continuous time series. These changes were due to new legislation that resulted in mandatory reporting of fuel data for businesses meeting reporting criteria. Previously, voluntary survey data were used.

Malta MT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data was reported at 0.456 Tonne in 2020. This records a decrease from the previous number of 1.281 Tonne for 2019. Malta MT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data is updated yearly, averaging 0.522 Tonne from Dec 2013 (Median) to 2020, with 8 observations. The data reached an all-time high of 1.281 Tonne in 2019 and a record low of 0.456 Tonne in 2020. Malta MT: Motor Fuel Deliveries: Tonnes per Road Motor Vehicle data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Malta – Table MT.OECD.ITF: Motor Fuel Deliveries to Road Sector: Non OECD Member: Annual. [COVERAGE] FUEL DELIVERIES Motor gasoline (petrol) is light hydrocarbon oil for use in internal combustion engines, excluding those in aircraft. Its calorific value is 44.8 TJ/1000 t. Motor gasoline is distilled between 35°C and 215°C and treated by reforming, catalytic cracking or blending with an aromatic fraction to reach a sufficiently high octane number. Gas/diesel oil (distillate fuel oil) is oil obtained from the lowest fraction from atmospheric distillation of crude oil. Its calorific value is 43.3 TJ/1000 t. Gas/diesel oil includes heavy gas oils obtained by vacuum re-distillation of the residual from atmospheric distillation. Gas/diesel oil distils between 200°C and 380°C, with less than 65 per cent in volume at 250°C, including losses, and 80 per cent or more at 350°C. The flashpoint is always above 50°C and their density is higher than 0.81. Heavy oils obtained by blending are grouped together with gas oils, provided that their kinematic viscosity does not exceed 25 cST at 40°C. [COVERAGE] FUEL DELIVERIES Data include inland consumption for road transport only.

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Automotive HVAC Compressor Market Size 2025-2029

The automotive HVAC compressor market size is forecast to increase by USD 10.09 billion, at a CAGR of 9% between 2024 and 2029.

The market is experiencing significant growth due to several key trends. One of the primary factors driving market expansion is the increasing adoption of electric HVAC compressors in vehicles. As the demand for eco-friendly and fuel-efficient solutions rises, electric compressors are becoming a popular choice. Additionally, the growing popularity of electric vehicles (EVs) is also contributing to market growth, as EVs require specialized HVAC compressors to maintain cabin temperature. The market encompasses the production and supply of compressors utilized in heating, ventilation, and air conditioning systems for both passenger cars and commercial vehicles. However, the high initial cost associated with automotive HVAC compressors remains a challenge for market growth. Despite this, the long-term benefits, such as improved fuel efficiency and reduced emissions, make the investment worthwhile for automakers and consumers alike. Overall, the market for automotive HVAC compressors is poised for continued growth, driven by these trends and the increasing demand for advanced climate control systems in vehicles.

What will be the Size of the Automotive HVAC Compressor Market During the Forecast Period?

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This market exhibits significant growth due to increasing demand for comfort and convenience features in vehicles, particularly in regions with extreme climates. The passenger car segment dominates the market, driven by the large volume of sales.
In contrast, the commercial vehicle segment, including trucks, light-duty trucks, and pickup trucks, is expected to witness steady growth due to the expanding fleet size and the need for efficient climate control solutions. Technological advancements, such as the adoption of variable displacement compressors and electric vehicle (EV) applications using BLDC motors, are shaping the market landscape. Overall, the market is poised for continued expansion as vehicle manufacturers prioritize enhancing the driving experience for consumers.

How is this Automotive HVAC Compressor Industry segmented and which is the largest segment?

The automotive HVAC compressor industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Passenger cars
  LCVs
  MCVs and HCVs


Type

  Swash plate compressors
  Scroll compressors
  Rotary compressors
  Reciprocating compressors


Channel

  OEM
  Aftermarket


Material

  Belt-driven compressors
  Electric-driven compressors


Geography

  APAC

    China
    India
    Japan


  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  South America

    Brazil


  Middle East and Africa

By Application Insights

The passenger cars segment is estimated to witness significant growth during the forecast period.

The market is primarily driven by the near-universal adoption of HVAC systems in passenger cars. With almost all automakers equipping their passenger vehicles with these systems, the market's growth is largely contingent on the production volume of these vehicles. The decline in sales of internal combustion engine (ICE)-based passenger cars has led to a cautious production approach from manufacturers. However, the rising demand for electric powertrain-based passenger cars presents a significant growth opportunity for the market. The commercial vehicles segment, including trucks, light-duty trucks, and pickup trucks, also utilizes HVAC compressors, contributing to the market's expansion. Technological advancements, such as variable displacement compressors, electric compressors, and smart climate control systems, are further enhancing the market's growth potential.

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The passenger cars segment was valued at USD 11.26 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 54% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is primarily driven by the high penetration of HVAC systems in passenger cars, which accounts for nearly 100% of market penetration. The commercial vehicle segment is also witnessing an increasing adoption rate of HVAC systems, further fueling market growth. The region is antic

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Fuel Cell Market Size 2025-2029

The fuel cell market size is forecast to increase by USD 28.44 billion at a CAGR of 28.9% between 2024 and 2029.

The market is experiencing significant growth due to the increasing demand for efficient and clean energy sources. This trend is driven by the rising awareness of environmental concerns and the need to reduce greenhouse gas emissions. Additionally, increasing research and development activities are leading to advancements in fuel cell technology, making them more cost-effective and efficient. However, the high cost of fuel cells remains a challenge for market growth. Despite this, the market is expected to continue expanding as governments and businesses invest in renewable energy solutions and hydrogen infrastructure development. The market analysis report provides a comprehensive overview of these trends and challenges, offering valuable insights for stakeholders in the fuel cell industry.

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Fuel cells have emerged as a promising clean energy technology, offering significant benefits for various industries, particularly in the transportation sector with the rise of fuel cell electric vehicles (FCEVs). The International Energy Agency (IEA) has highlighted the potential of FCEVs in reducing carbon emissions and environmental impact, aligning with global efforts to transition towards sustainable energy solutions. They operate through a process called proton exchange membrane fuel cells (PEMFCs), converting chemical energy from hydrogen into electricity through an electrochemical reaction. This process generates only water as a byproduct, making it an attractive alternative to traditional combustion engines.



Fuel cell manufacturers are increasingly focusing on improving the efficiency and durability of their products to cater to diverse applications, including FCEVs and Stationary Fuel Cell Systems (SOFCS) for data centers and backup power. The regulatory framework surrounding fuel cells is evolving, with initiatives such as the ENE-Farm program and collaborations between companies driving innovation and market growth. The integration of PEMFCs and DMFCs (Direct Methanol Fuel Cells) in various applications is expected to further expand the market scope.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  PEMFC
  PAFC
  SOFC
  Others


Application

  Transport
  Stationary
  Portable


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  Middle East and Africa



  South America

By Product Insights

The PEMFC segment is estimated to witness significant growth during the forecast period.

Proton Exchange Membrane Fuel Cells (PEMFCs) are a type of hydrogen fuel cell that utilizes a water-based, acidic polymer electrolyte. Operating at lower temperatures than other fuel cells, these cells are ideal for applications requiring power in a short timeframe, such as transportation and stationary power. PEMFCs, also known as polymer electrolyte membrane fuel cells, separate electrons from the protons of hydrogen fuel at the anode, with the electrons traveling through an external circuit to generate electricity. The protons pass through the membrane towards the cathode. Pioneering companies have led the way in this innovative technology.

PEMFCs offer numerous advantages, including high efficiency, low emissions, and quick response time, making them a promising alternative to battery-electric vehicles. Startups are also entering the market, contributing to the growth and advancement of this technology.

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The PEMFC segment was valued at USD 2.02 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 35% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is experiencing consistent growth, driven primarily by the United States. This region accounts for a significant share of global fuel cell vehicle (FCEV) shipments. Government support, including federal and state incentives for clean energy technologies, plays a crucial role in market expansion. Major corporations are increasingly investing in fuel cells due to their perf