Automotive Industry Report

  Rear-view Mirror Industry Overview The global  rear-view mirror market  size is expected to reach USD 11.51 billion by 2028, expanding at a CAGR of 4.1% from 2021 to 2028, according to a new report by Grand View Research, Inc. The COVID-19 pandemic has negatively impacted the demand for rear-view mirrors in 2020. The implementation of lockdowns and social distancing norms globally led to losses in the automotive industry. However, as governments begin to gradually relax lockdown norms and allow businesses to operate with mandates of social distancing, the market can expect a period of respite for the short term. Moreover, the increasing demand for luxury vehicles, coupled with the growing demand for enhanced comfort, is anticipated to drive market growth. Automotive OEMs are focused on integrating advanced safety features in rear-view mirrors to improve visibility and reduce accidents. The rapid rate of advancements in product features is anticipated to work in favor o...

  U.S. Automotive Wrap Films Industry Overview The  U.S. automotive wrap films market  size is anticipated to reach USD 4.32 billion by 2028, according to a new report by Grand View Research, Inc. The market is projected to register a CAGR of 18.8% from 2021 to 2028. The growing trend of company spending on automobile advertising and offering sponsorships to the automotive race teams to increase the visibility of the company is expected to drive the demand for automotive wrap films in the U.S.   Companies operating in consumer goods, food and beverages, tourism, electrical and electronics, and various other industries are using vehicles with automotive wraps for showcasing and advertising their product offerings. Companies operating in these industries hire vehicles from fleet owners and use customized wraps with company names and logos imprinted on them. Additionally, an automotive wrap film is a cost-effective solution, which maintains the original paint job and...

  U.S. Car Wash Service Industry Overview The U.S. car wash service market size was valued at USD 14.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. The demand for car wash services has been rising over the past decade due to their increased convenience and a greater array of budget and luxury options. The increasing environmental regulations prohibiting residential car washing practices are anticipated to expand the customer base for professional car washes, thereby driving the demand for the services. The market is primarily attributed to the increasing focus of consumers on vehicle maintenance and rising spending power. Busy schedules and time constraints have also led to consumers giving their vehicles to professional car washes rather than cleaning them at home. In the U.S., more than 72% of drivers use professional car wash services frequently and conveyor car wash is the most revenue-generating service. The on...

  Australia Kids Scooter Industry Overview The Australia kids scooter market size was valued at USD 3.78 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2021 to 2028. The growing concerns among parents with regard to improving child health are expected to be one of the main factors driving the demand for kids' scooters. Various health experts have recommended that scooting can improve body functionalities, such as metabolism, cardiopulmonary health, and blood circulation. In addition, this activity helps in increasing height, mobility, and immunity, which aids in the prevention of several diseases, such as obesity and related disorders. Revised safety laws in different cities have also led to an increasing number of kids riding scooters. In December 2019, the Australian Capital Territory (ACT) Government announced the legalization of the use of electric scooters on footpaths and shared paths, following increased public demand. With th...

  Automotive Smart Display Industry Overview The global automotive smart display market size was valued at USD 11.37 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The increasing demand for advanced functions, including navigation, multimedia systems, driver assistance, and connected car features, and the improving driver-to-vehicle communication are anticipated to boost the use of the smart display in the automotive sector. Furthermore, the growing demand for enhanced safety, comfort, and convenience in automobiles, especially in developing and mature economies, is anticipated to propel the market growth over the forecast period. The rise in the demand for autonomous and semi-autonomous vehicle technology and the growth of the high-end and luxury car segments, especially in the emerging markets, are also expected to offer growth avenues for the market over the forecast period. The use of smart displays for automotive ...

  Road Safety Industry Overview The global road safety market size was valued at USD 2.87 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.4% from 2021 to 2028. During the COVID-19 pandemic, road fatalities witnessed a sharp decline. However, in the second quarter of 2020, traffic volume witnessed a rise with ease in lockdown restrictions. This period witnessed an increase in road fatalities caused mainly by drivers engaging in risky behavior by violating speed limits, failing to wear seat belts, and being under alcohol influence. Therefore, traffic management and safety authorities worldwide kicked off a program to mitigate such incidences by investing in new road safety solutions. Although the pandemic hindered the growth in 2020, the market was expected to reach pre-COVID levels by the end of 2020 and a steady recovery in 2021. Road safety future is uncertain and not the same for all regions worldwide. For instance, countries in Europe ha...

  Car Rental Industry Overview The global car rental market size was valued at USD 98.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028. A significant rise in the number of people taking business and leisure trips across the globe is driving the demand for car rental services, thereby propelling the industry’s growth. Rising internet penetration across developing as well as developed countries have further helped companies in the market capture a larger customer base with the help of dedicated mobile apps for the convenience of customers. Technology is considered to be a crucial factor driving market growth. The impact of technological advancements has revolutionized the industry in the recent past. Improved customer and corporate information management and hassle-free internet booking applications are the two prominent ways assisting car rental service operators to offer enhanced services to their customers. The increas...