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As per the reports published by FMI, the global automotive OEM market demand is projected to have an average-paced CAGR of 4.17% during the forecast period. The current valuation of the market is US$ 35.16 Billion in 2023. The market value of the automotive OEM market is anticipated to surpass a market valuation of US$ 52.90 Billion by the year 2033. A historical market valuation of US$ 32.4 Billion has been recorded by the analysts of Future Market Insights for the concerned market during the base year.

Recent Developments

Recently, the 3M collision repair application was launched by the 3M company, which is an application tool for mobiles. It is identified to help with the expert technical support provided by the shop technicians and the personnel for distributor sales.
In July 2021, MasterBeat Corporation announced that its JTEC Autoworld launched the Amazon retail segment of its online automotive parts platform. JTEC has a plan of utilizing Amazon and several other e-commerce platforms for accelerating the sales and marketing of automotive OEM products.
Two Indian Companies, Mahindra and Mahindra Tata Motors have increased their market share by about 5% in the Indian market, one in every five cars is made by these Indian OEMs, which are sold in India.
It is analyzed by the experts that demand for a large number of commercial and passenger vehicles is a major contributor to the expanding market size of automotive OEMs. Consumers are becoming more aware of their safety while traveling and this aspect is fueling the demand for automotive OEM products in 2023. There are several technological advances made by manufacturers to gain an upper hand in the market.

The rise in disposable income across developing economies is resulting in increased spending on personal vehicles, simultaneously fueling the market growth of automotive OEMs. However, the high cost of automotive OEM products is a crucial factor impeding the growth of the industry. Furthermore, the prevalence of counterfeit automotive OEM products is estimated to challenge the expansion of the market through 2033.

Key Takeaways from the Automotive OEM Market

The automotive OEM market is estimated to surpass a valuation of US$ 52.90 Billion by the end of the projection period.
An approximate surge of US$ 2.76 Billion has been witnessed from the base year to the current year in the automotive OEM market.
The commercial vehicle type segment is projected to advance at a CAGR of 6.8% through the forecast period.
The powertrain segment by component type category is likely to dominate the automotive OEM market, with a market valuation surpassing US$ 439.67 Billion by 2033.
The United States automotive OEM market is projected to advance at a moderate pace registering a CAGR of 6.6% during 2023-2033.
“Demand and production of high-performance cars are projected to curate lucrative growth prospects for advancement of the industry through the foreseen years.” – Says an FMI Analyst.

For more information: https://www.futuremarketinsigh....ts.com/reports/autom
Competitive Landscape in the Automotive OEM Market

Due to the existence of numerous international and regional companies, the market for automotive OEMs is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world. Therefore, the market is projected to register significant growth through the forecast period.

Some of the key companies in the market are

Toyota Motor Corporation.
Volkswagen AG.
Nissan.
Honda Motor Co.
Magna International Inc.
Continental AG.
CIE automotive.
Siemens.
BMW AG.
Exide Industries limited.
Denso Corp.
Robert Bosch, GMbH.
Valeo
Aptiv
Ford Motor Company.
Mitsubishi Motors Corp.

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Financial Technology or Fintech is using electronic or information technology to perform financial activities. Any transaction, remitting or receiving money to or from any bank account respectively can be done at the click of a button using a device like a laptop, tablet or even a smartphone with the help of this technology. It has proved to be very helpful for people who cannot avail of the traditional or physical methods of banking. In India, it mainly picked up in the year when demonetization was announced in the year 2016.

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The Location Analytics Market reports are now updated with the latest market sizing information for the year 2022 and forecasted to 2029
Additionally, it provides a futuristic perspective on various factors that are likely to boost Location Analytics Market growth in the years to come. Besides, authors of the report have shed light on the factors that may hamper the growth of the Location Analytics Market.

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According to ESOMAR-certified Future Market Insights’ (FMI) - Over the forecast period, the global electric vehicle battery housing market is expected to grow at a rapid CAGR of 31.8%. The market is expected to reach US$ 1,531.1 Mn in 2023. The market is anticipated to reach US$ 24,219.1 Mn by 2033.

KEY TAKEAWAYS

The UK electric vehicle battery housing market is estimated to grow at a CAGR of 28% over the forecast period.
The German electric car battery housing market is expected to hold 11.2% of the global market over the forecast period
During the projection period, the Chinese electric vehicle battery housing market is expected to expand at a CAGR of 26.4% through 2032.
Japan is expected to hold 1.1% of the global market over the forecast period.
The Indian electric vehicle battery housing market is expected to have the highest global market share, growing at a CAGR of 42.2%.
Over the projected period, the US electric vehicle battery housing market is expected to hold 9.3% of the global market.
Consumer acceptance of electric car battery housing is increasing, resulting in market expansion. The unexpected increase in demand would stimulate an expansion of capabilities across the whole value chain. The government's tough pollution laws coupled with individuals' growing environmental concerns are expected to drive up demand for battery housing for electric vehicles.

Owing to the growing market demand for electric cars, manufacturers are concentrating more on developing EV safety features. As the next step in the evolution of electric vehicles, they are also creating battery housing to strengthen EVs and boost range.

Concerns about climate change and the looming depletion of fossil fuels have pushed efforts to develop better electric vehicle designs. Battery casings for electric cars perform worse than conventional battery enclosures. Additionally, it is more eco-friendly. Nonmetallic components provide strong mechanical properties, such as high rigidity and strength while being lightweight. When compared to metallic materials such as aluminum or steel, an electric car battery housing made of non-metallic components can save up to 40% weight.

There are distinct benefits to adopting an electric vehicle battery housing. To craft the mobility of the future even more capable, electric vehicle makers are rapidly adopting battery housings, which is growing sales of the electric vehicle battery housing.

Europe is leading the global electric vehicle battery housing market as a result of growing government support for the EV market, despite the fact that electric vehicles are currently expensive. Furthermore, the significant concentration of OEMs in the region encouraged market development.

For more information: https://www.futuremarketinsigh....ts.com/reports/elect

COMPETITIVE LANDSCAPE

Key players operating in the electric vehicle battery housing market are SGL Carbon, Novelis Inc., Nemak S.A.B. de C.V, Constellium SE, Gestamp Automocion, UACJ Corporation, GF Linamar LLC, Hanwha Advanced Materials, Minth, Continental Structural Plastics, Thyssenkrupp AG, TRB Lightweight, Hitachi Metals Ltd., POSCO, Norsk Hydro ASA and other major players.

These companies have used a variety of techniques to improve their market share for electric vehicle battery housing. To widen their client base and increase revenue, they have used both organic and inorganic growth techniques, such as new product launches, acquisitions, corporate expansions, and collaborations.

RECENT DEVELOPMENT

In October 2021, Novelis Inc. revealed the introduction of Generation II of its lightweight electric vehicle (EV) battery enclosure solution for the rapidly growing EV sector.

In January 2020, Nemak disclosed that it will provide battery housings for the Ford Mustang Mach-E, which will be produced in North America.