Automotive Archivi - Business NewsWire

Virtual Power Plant Market To Reach USD 12,273.3 Million by 2030

The virtual power plant market will power at a rate of 16.9% in the years to come, reaching USD 12,273.3 million by 2030, as stated by P&S Intelligence.

This is because of the increasing acceptance of cutting-edge technologies such as IoT and cloud platforms in the power sector, the increasing consciousness toward the advantages of renewable power, the availability ease of power through VPP platforms, and the growing emphasis on cost-efficiency in generation of power.

This is because of the higher acceptance of this technology in industrialized nations, as a result of direct advantages offered to end customers as incentives for varying their consumption of power; an increase in the necessity for energy consumption; and it lets users to participate in the energy load drop throughout peak demand periods with the use of VPP software and solution.

This is because of the to the high electricity sales to industrial customers; the quick industrialization in China, Brazil, India, and Indonesia; and favorable policies proposed by numerous governments concerning energy consumption.

Power evacuation infra, characterized by power transmission and distribution networks, is either outdated or insufficient. In the majority of cutting-edge countries, power transmission networks are outdated and not able to accommodate the intermittent flow of electricity supplied by renewable power projects.

Furthermore, everyday network failure and high transmission and delivery losses result in loss of revenue to power utilities. In developing nations, the transmission of power network is extremely insufficient to cater to the increasing power demand.
Furthermore, the increasing use of virtual energy units for optimal energy distribution boosts the growth of the energy in the region.

Due to the increasing awareness of advantages of renewable power, the demand for virtual power plant will continue to grow in the years to come.

Fortified Mobility Navigating the Armored Vehicles Market

The armored vehicles market will touch USD 35.2 billion by 2030, powering at a rate of 5.1% by the end of this decade. This is because of the militarization of law implementation agencies, increase in the incidence of cross-border disagreements, development in the requirement for compact, sturdy, and extremely efficient armored vehicles, and growth in the defense budgets of numerous nations.

Furthermore, the high research and development spending by the giants of the industry and government partnerships with private administrations to advance highly groundbreaking and accurate solutions for defense support the industry growth.

The U.S., the leading power, is growing its defense expenditure, having spent about 3.7% of its gross domestic product on the military in the past. The growing military expenditure gives the armed forces more freedom to buy novel armored vehicles and reinforce their land-based competences.

Wheeled armored vehicles had the larger revenue share in the past and will have the faster growth in the years to come. Such vehicles are attaining acceptance due to their better mobility, low weight, and enhanced combat competences. Moreover, the growing occurrence of hostile and terrorist attacks in urban areas generates a robust need for armored cars and other wheeled automobiles.

The defense category had the larger share in the armored vehicles market, and it will continue dominating in the future as well. This can be credited to the rising use of APCs, IFVs, LPVs, MBTs, MRAP, and tactical automobiles for diverse purposes, rising essential to protect armed forces people from mine explosions, and the robust emphasis on safer disposition of infantrymen to battlefields or risky areas.

Charging Ahead: Exploring Trends and Innovations in the EV Fast Charging Infrastructure Market

There is no doubt in the fact that EVs are the future of the vehicle industry. But one thing that is still left to be addressed is the time taken to charge an electric vehicle.

Fast Charging Always the Question

The common question asked with respect to EV is always, will EVs be charged in the amount of time taken to fill up a tank of a vehicle with petrol, diesel or even gas. Innovations have been happening in order to decrease the time taken for the electric vehicles to charge.

Governments are trying to come up with initiatives to boost the sales of electric vehicles, but this dream can turn in reality only than there is a proper fast charging infrastructure all over the world.

Why Not Slow Charging for EVs?

Slow charging, usually takes 6 to 12 hours at a 3kW power. Fast charging is becoming common in public infra, can take 1 to 3 hours at a power of 7-22kW.

Ultra-fast charging is the need of the hour to achieve the dream of complete electrification of vehicles, as will the infra for charging an ever-growing vehicle count. This infra could, eventually, be arranged in charging hubs in city centres, as planners build shifting mobility necessities into city design.

Managing the Grid Well

The power grid will take a huge toll, with the fast charging infra coming in place for charging electric vehicles, so a lot of thinking will be put in place for developing such an infra for fast charging, that charges the vehicles in a jiffy, and at the same time do not put much burden on the grid.

If a lot of vehicles are charged at the same time, then there is every chance that the grid will overloaded. Innovative solutions are needed to be thought of to build a bridge between the demand and supply. Battery storage systems can also be thought of.

Can Ultra-Fast Charging Become a Reality

In the current scenario, as mentioned earlier, there is a call for an ultra-fast EV charging to say the least. But, can it become a reality anytime soon, remains the biggest question to be answered.

Regulatory hurdles are the biggest blockage to the development of an ultra-fast charging network, and there has to be continuous support from the governments to tech advances if it is to become a reality, anytime soon. Working with the network operators for electrification of transportation will hasten both the acceptance of EVs but also the rate at which charging infra is built out across the globe.

With an intention to quicken the adoption of EV, the demand of the fast charging infrastructure will grow substantially in the future, to reach USD 18,909.8 million by the end of this decade.

What is Automotive Ethernet? Everything You Need to Know

Today’s automobiles are producing and transmitting huge quantities of data in order to execute advanced driver assistance systems, cameras and sensors, onboard diagnostics, smart safety systems, and in-vehicle-infotainment systems. Such in-vehicle networks need much quicker speeds than what has historically been possible utilizing buses like LIN, CAN/CAN-FD, PSI5, FlexRay, SENT, and CXPI networks.

Also, the need for better integration between vehicle subsystems is propelling fundamental architectural changes with a focus on scalable architectures and complex topologies, including gateways connected to a backbone.

Beyond the technical needs, such in-vehicle networks are also required to be cost-effective, light in weight, and work in rough conditions and extensive temperature ranges. They also require to be tremendously dependable, especially for systems made to protect the security of the passengers.

Automotive Ethernet answers all of these demands.

The automotive ethernet market is witnessing growth and is projected to reach USD 10 billion by 2030.

What is Automotive Ethernet?

Vehicle Ethernet is a low-latency, high-speed network physical layer. Vehicle Ethernet is based on recognized ethernet standards, and modified for use in automobiles. It utilizes a single pair of unprotected twisted cables for lightweight and low price.

It is made to permit the transfer of high volumes of information between in-vehicle modules to aid contemporary powertrain, ADAS, comfort, and infotainment systems. There are numerous different automotive ethernet standards, such as 10GBASE-T1, 100BASE-T1, and 1000BASE-T1, which can transfer information at speeds from 100 Mb/s to 10 Gb/s.

Benefits of Automotive Ethernet

In vehicles, automotive ethernet components provide numerous advantages, including:

High data rates allow high-speed, high-capacity data communications

Low latency offers negligible delay for real-time systems such as ADAS
High dependability with good noise immunity
Light in weight, space-effective, and lucrative cabling
Based on deep-rooted standards from reputable standards bodies

Moreover, automotive ethernet has been proven to meet the needs of both capacity and integration. For the purpose of achieving high data rates and reliability, automotive ethernet cables shall use PAM3/PAM4 modulation as opposed to nonautomotive Ethernet.

In the short term, however, automotive Ethernet can transport data approximately 100 times more rapidly than a bus and is better suited for future vehicle networks that will need to be capable of meeting their needs in terms of both performance and flexibility. The CAN, CANFD, LIN, and other networks are still relevant but they may prove less important in the next few years.

Automotive Ethernet Standards

As new workings for automotive Ethernet developed and speeds became quicker, standards establishments released new test and compliance needs that automotive makers and their suppliers should meet. To ensure the interoperability of hardware and the safe, predictable operation of the vehicle in different situations and working conditions, severe restraints are placed on noise, signal levels, and clock characteristics.

The testing methods specified by the standards, though deep-rooted for stationary Ethernet networks have made new design challenges for numerous automotive engineers familiar with working with slower serial buses like CAN and LIN.

Browse detailed report on Automotive Ethernet Market Size, and Business Strategies

Revolutionizing Mobility: Unveiling Trends in the Software-Defined Vehicle Market

The value of the software-defined vehicle market stood at USD 268.8 billion in 2023, and this number is projected to reach USD 489.7 billion by 2030, advancing at a CAGR of 9.0% during the projection period.

Software is projected to advance at the highest CAGR of 9.5%, credited to the numerous benefits it provides, like easy driving experiences and better safety. The rise in the requirement for software-defined cars is mainly because of the increasing requirement for security and the rising sale of EVs.

The ADAS category is projected to witness substantial development during the projection, credited to the growing knowledge among people of the safety of passengers and drivers. Along with this, the costs of in-car electronic safety systems are reducing, which is permitting more individuals to purchase vehicles combined with them.

On the basis of autonomy, level 3 is projected to advance fastest, as level 3 autonomous vehicles are fortified with the ability to spot the environment and make better decisions for themselves. These decisions comprise keeping the ideal speed as per the traffic and weather circumstances.

It is considered a conditionally automated level, where the driver is capable of handling the automobile themselves in numerous situations. In January 2023, Mercedes-Benz declared the receipt of the sanction of the U.S. government for level 3 driving features.

The Asia-Pacific region is dominating the software-defined vehicle industry, and it will grip the same position during the projection period, accounting for a worth of USD 147.8 billion by 2030. The development is credited to the surge in the concentration on safety and the decrease in the number of accidents.

China retains its lead position within the Asia Pacific region and is expected to increase at a compound annual growth rate of 8.8% over the forecast period. This is due to the swift technological development of its vehicle sector, as well as the adoption of advanced manufacturing techniques in order to increase production.

Automatic Tire Inflation System Market Will Reach USD 171.8 Million By 2030

In 2023, the global automatic tire inflation system market achieved a valuation of USD 83.6 million, and it is anticipated to exhibit a compound annual growth rate (CAGR) of 10.9% from 2024 to 2030. This growth trajectory is expected to lead to a market value of USD 171.8 million by the year 2030.

This growth of the market can be credited to the rise in the making and sale of all-landscape and heavy commercial vehicles worldwide. For them, automatic tire inflation systems are utilized widely to advance security and effectiveness. Such systems aid in growing car performance and boost economy, which eventually leads to reduced downtime. Few nations are instructing their use of heavy-duty trucks to decrease the probability of accidents.

The predominant category commands a substantial 60% share of the overall revenue and is projected to experience noteworthy growth with a Compound Annual Growth Rate (CAGR) of 10.7% throughout the forecast period. The rationale behind this robust growth lies in the diverse advantages offered by these variants, tailored to specific industries and vehicle types.

Notably, these variants facilitate real-time adjustment of tire pressure while in motion, allowing vehicles to seamlessly adapt to fluctuating load conditions and diverse terrains. This adaptability proves particularly advantageous in applications such as off-roading, military operations, and agricultural settings. The ability to fine-tune air pressure based on terrain conditions significantly enhances traction, thereby improving overall vehicle stability and performance.

Within the segmentation based on components, the ECU category stands out with the highest market revenue share at 25%. This leading position is attributed to the ECU’s pivotal role as the central processing unit, serving as the brain of the entire system. Its primary function involves the continual analysis of tire pressure data sourced from sensors, enabling it to execute precise adjustments for maintaining optimal levels.

The ECU takes charge of controlling both inflation and deflation processes through diagnostics, effectively communicating with the driver. Notably, its seamless integration capabilities with various vehicle control systems contribute to improved coordination across different vehicle functions, further accentuating its dominance in the market.

The North American region is producing the highest income in the industry, of USD 0.04 billion, and it is projected to advance at a substantial CAGR, of 10.8%, in the years to come.

Philippines Micromobility Market Will Reach USD 13,899.7 Million by 2030

The Philippines micromobility market is projected to be worth USD 13,899.7 million by 2030, growing at a CAGR of 158.6%, according to P&S Intelligence.

This growth can be ascribed to the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery cost.

In recent years, the e-mopeds category, held the largest revenue share in the Philippines micromobility industry, on the basis of vehicle type. The same is also projected to advance at the highest development rate in the coming few years. this can be credited to the rising use of e-moped services because of their cost-effectiveness in nature.

The launch of swappable batteries has augmented the fleet uptime significantly, while also decreasing the working price, which has indeed taken the micromobility market in the Philippines toward success. Moreover, with the utilization of swappable batteries, the income generation of the e-scooter business can be enhanced, because such batteries not only cut a huge chunk of the charging prices but also advance the vehicle obtainability.

Additionally, numerous electric two-wheeler builders are also concentrating on fitting battery-swapping stations for commercial and public use. For example, in recent years, Komaihaltec Inc., Honda Motor Co. Ltd., and Honda Motor Co. Ltd., together introduced a demo project with a target to generate power with wind power in Romblon Island, the Philippines.

Additionally, micromobility companies are accepting new-age lithium-ion batteries, as such batteries are eco-friendlier, providing lessen charging time and augmented running economy than lead–acid batteries. The government is also helping lithium-ion battery businesses by providing inducements and tax credits. Thus, lessening the cost of lithium-ion batteries would remain to aid the micromobility industry in the Philippines in the coming years.

Hence, the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery costs are the major factors propelling the Philippines micromobility market.

Swift Solutions: Navigating Trends in the Turkey Micromobility Market

Concepts of micro mobility and shared ecosystems are permeating human lives more and more frequently each day. Initiatives to hire electric scooters have proven very popular in Turkey.

The main drivers of the expansion of micromobility market in Turkey are the need to preserve the environment, an effective short-distance transport system, and the growing need to lessen traffic congestion. The sector will reach $14,711.1 million in 2030 as a result of the aforementioned causes.

Maintenance of a Green Environment Is Required

Environmental contamination is one of the main problems in Turkey. The amount of air pollution in the entire nation exceeds WHO recommendations, which causes fatal illnesses. Approximately 27% of the nation’s overall health spending is typically allocated to treating illnesses brought on by air pollution.

The government is using micromobility to lower pollution levels. The wide availability, cheap cost, ease of use, and environmental friendliness of the micromobility system have all contributed to its exponential rise.
Need to Reduce Traffic Congestion Is Driving Market Expansion

Istanbul is now ranked second among 220 cities worldwide in terms of traffic congestion, according to research by the transportation analytics company INRIX. The count of commuters is growing as a result of fast urbanization, which puts additional strain on the current transportation infrastructure.

People frequently pick their own automobiles when there isn’t an effective form of public transit, which complicates matters and increases traffic congestion.

Thus, micromobility improves connection to public transportation, lowers the dependency on private automobiles, and also contributes to a reduction in greenhouse gas emissions. It is regarded as a cutting-edge transportation plan that has shown to have significant promise for reducing congestion.

E-Scooters Dominated Market due to Their Extensive Fleet

Based on vehicle type, the e-scooter category represented the greatest value share in the Turkish micromobility industry.

In the coming years, this category is likewise anticipated to continue experiencing a similar trend. This is mostly attributable to the enormous fleet that e-scooters have, which leads to their high market availability when opposed to other vehicle types.

Powering the Last Mile: Navigating Trends in the India Electric Rickshaw Battery Market

In June 2023, the Uttarakhand High Court has asked the Nagar Palika Parishad to convert all pedal/cycle rickshaw permits to e-rickshaw permits. This is in keeping with the rising demand for these eco-friendly modes of short-distance transport across the country. According to the Federation of Automobile Dealers Associations (FADA), electric rickshaw sales in the country in February 2023 were 89% compared to February 2022.

Most of these sales are powered by the government initiatives to urge people to shun their petrol/diesel vehicles, at least for short distances and last-mile commuting, and opt for public transport instead. For instance, in 2020, the Tamil Nadu government had unveiled over 10 types of battery- and solar-powered rickshaws. The state government had also announced its EV policy in 2019 with the aim to garner USD 7 billion (INR 500 crore) worth of investment in EV manufacturing.

Moreover, a report had pointed out that only eight Indian states had fewer than 1,000 of these registered three-wheelers and that Uttar Pradesh, Delhi, and Bihar topped in e-rickshaw registrations, with 403,411; 117,885; and 108,669 vehicles registered. Such numbers hint at a major opportunity for companies in the Indian electric rickshaw battery market, which has been forecast by P&S Intelligence to reach USD 295.4 million by 2030.

Just like any EV, the battery and motor are the costliest components of an e-rickshaw. This is why the battery needs to be highly efficient, allowing for long driving ranges on a full charge, and have a long overall life for it to be cost-effective. Up till half a decade ago, sealed lead–acid (SLA) batteries were preferred because they were the only ones available, widely known, and cost-effective.

However, with concerns over the short driving range, disposal issues, short life, and fewer charge cycles they entail, lithium-ion batteries are becoming increasingly popular. Still, despite their advantages of a higher charge capacity, lower self-discharge rate, more charge cycles, and longer life, their sales are somewhat marred by their higher price. This is because lithium and cobalt, two of the key materials utilized in these power storage systems, are costly.

Moreover, since India sources all of its lithium from other countries, the import duty makes it even more expensive. Between the April of 2022 and January of this year, we imported lithium worth INR 18,763 crore. However, in February 2023, the Geological Survey of India found 5.9 million metric tonnes of Li reserves in the Reasi district of Jammu & Kashmir. With the government planning to swiftly auction the blocks to private players for extraction, Li-ion battery production in India could get a boost and the prices of these components could come down.

Other states with possible reserves of this key metal are Rajasthan, Jharkhand, Chhattisgarh, Arunachal Pradesh, Meghalaya, Nagaland, Gujarat, and Ladakh (UT). Experts believe that with India beginning to locally source lithium, the price of cells for Li-ion batteries could come down by up to 30%, which could make e-rickshaws cheaper by 15%, if not more.

Last Mile Delivery Market Will Reach USD 121.2 Billion by 2030

The last mile delivery market was USD 27.1 billion in 2022, and it will reach USD 121.2 billion, propelling at a 20.6% compound annual growth rate, by 2030.

The progression of the industry is mainly attributed to the surging utilization of omnichannel retailing, as well as the significant increase in internet penetration in emerging economies, including Thailand, Indonesia, and India.

In 2022, the B2B category, based on service, dominated the industry, with approximately 50% share. This can be attributed to the fact that it provides numerous advantages to online retailers to attract B2B consumers, for instance, decreased delivery time, easy options of payment, doorstep delivery of heavy parts, heavy discounts on bulk buying, and decreased management expenses.

The B2C category will observe faster growth in the years to come. This is because of the shifting customer purchasing behavior, growing technical knowledge about the utilization of online platforms and smartphone apps, and, development in organized and omnichannel retailing.

Based on application, the e-commerce category will observe the fastest last mile delivery market growth, propelling at approximately 20% CAGR, in the years to come. This is because of the growing customer base, customers’ expectations for fast and free shipping, demographic shift, and competitive pricing. Therefore, businesses are now focusing on overcoming the challenging delivery schedule of conventional logistics.

A major trend being observed in the industry is the implementation of autonomous vehicles for delivery. AI is a major technology for autonomous driving systems, as it is the only tech that allows real-time and reliable object recognition around automobiles. The implementation of autonomous vehicles will significantly decrease delivery expenses, therefore driving the e-commerce sector growth.

In 2022, the North American industry accounted for a significant share, generating USD 9 billion. This is because of the high rate of adoption of advanced technologies in the continent, as well as the rising rate of efficiency expected by last-mile delivery.