According to a new report published by Allied Market Research, titled, “Maglev Train Market," The maglev train market is expected to be valued at $2.7 billion in 2025, and is estimated to reach $5.6 billion by 2035, growing at a CAGR of 7.4% from 2025 to 2035.
The concept of maglev train is typically attributed to the transportation option that uses an electromagnetic propulsion technology on both the tracks and the train itself. This levitation greatly reduces friction, potentially allowing the train to move faster and consume less power due to better acceleration, traction, and braking system. Maglev train systems have several benefits over conventional rail transportation systems as they produce no air pollution during operation, because no fuel is being burned, and the absence of friction makes the trains very quiet (both within and outside the cars) and provides a very smooth ride for passengers. Hence, maglev technology is considered an environment-friendly system of travel. Governments of developing countries are investing significantly to meet the latest technology setups required for maglev trains. For instance, in China, the Zhejiang provincial government announced in April 2020 to build a maglev train connecting Shanghai with Ningbo via Hangzhou. Moreover, in September 2020, Bharat Heavy Electricals Limited (BHEL) signed a memorandum of understanding (MoU) with SwissRapide AG to develop maglev train infrastructure in India.
In addition, the maglev train market has witnessed significant growth in recent years, owing to rise in level of safety offered by the maglev trains, surge in harmful emissions from the vehicles, growth & expansion of high-speed railway corridor, and growth in number of tests of prototypes. Furthermore, companies operating in the maglev train market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in June 2021, Max Bögl Group launched its Transrapid, a high-speed maglev train after working for several years. The engine of this train is rolled out as a copper cable over the entire route and is fully automated and completely integrated into the vehicles and the stretch of track.
The factors such as rise in demand for secure, safer, and efficient transport system, increase in allocation of budget for development of railways, and rise in use of public transport services as a solution to minimize traffic congestion supplement the growth of the maglev train market. However, high capital requirement and refurbishment of existing rails are the factors expected to hamper the growth of the market. In addition, improvement in railway infrastructure in developing countries and increase in development & testing of maglev trains creates opportunities for the key players operating in the maglev train market.
COVID-19 Impact Analysis:
The COVID-19 crisis created uncertainty in the maglev train market. Governments of different regions announced total lockdown and temporarily shutdown of industries, thereby adversely affecting the overall production and sales. Following the directions of the World Health Organization (WHO) for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports, especially from China, causing large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The situation introduced intense pressure on the rolling stock industry. The railway department has shut down all the passenger train services and has limited its freight transport services with a reduction in demand for commodities and disturbed supply chain. In addition, the leading market players are taking various measures to deal with the negative effects of the outbreak of COVID-19. For instance, in 2020, Japan revealed its plans to conduct tests of a new prototype maglev train. Further, government authorities, and operators are expected to accelerate and resume maglev projects which were halted and expansion of the rail network after pandemic, which is anticipated to positively affect the growth of the maglev train industry in post pandemic situation.
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KEY FINDINGS OF THE STUDY
The leading players operating in the maglev train market are Agile Setu Mobility Private Limited, Alstom, American Maglev Technology Inc., Bharat Heavy Electricals Ltd, Central Japan Railway Company, CRRC Corporation Limited, East Japan Railway Company, Hitachi Ltd., Hyundai Rotem Company, IHI Corporation, Max Bögl, Medha Servo Drives Private Limited, Mitsubishi Heavy Industries Ltd, Northeast Maglev, Shanghai Maglev Transportation Development Co., Ltd., SwissRapide AG, and WSP.
According to a new report published by Allied Market Research, titled, “Automotive In-Vehicle Air Purifier Market Trends," The automotive in-vehicle air purifier market was valued at $3.6 billion in 2020, and is estimated to reach $9.7 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.
An automotive in-vehicle air purifier is similar to a room air purifier that serves as an extra air filter for automobiles & removes unpleasant odors from interiors. It enhances the performance of a car’s inbuilt filtering system by functioning as an additional car filtration, removing various ecological toxins, including soot particles and foul orders from the vehicle. Furthermore, innovative filtration systems equipment captures smells, germs, and tiny contaminants to assure clean air circulation. Automobile manufacturers are equipping cars with improved air purifiers to enhance air quality. For instance, In April 2021, Kronos Advanced Technologies Inc. announced the first generation of its limited-edition NUMBERED AirDOGE air purifiers. These purifiers terminate and collect more than 99.9% of infectious airborne viruses, bacteria, and mold utilizing the world's most advanced air purification combined with disinfection technology.
In addition, the automotive in-vehicle air purifier market witnessed significant growth in recent years, owing to the massive impact of the COVID-19 pandemic, which resulted in the transformation of buying behavior of consumers & emerged as an essential component in the vehicle. Companies operating in the market adopted partnerships, product launches, and R&D to increase their market share and expand their geographical presence. For instance, in 2020, Sharp, one of the major vendors in automobile air purifier market, tied up with Honda, Nissan, and Toyota. The brands such as Kia, Hyundai, and Toyota offer vehicles with in-built vehicle air purifiers. Moreover, several vendors partner with various automotive brands to provide air purification systems in their latest models due to the high demand.
The automotive in-vehicle air purifier industry is segmented on the basis of product type, technology, vehicle type, and region. By product type, the market is classified into air purifiers, air ionizers, and hybrid. According to technology, it is fragmented into high-efficiency particulate arrestor (HEPA), active carbon systems, and photo catalytic purifier. Depending on vehicle type, it is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as an increase in demand for clean and toxin-free cabin air and rise in pollution level of atmospheric air are expected to drive the growth of the automotive in-vehicle air purifier market. In addition, the need for a toxic-free healthy automobile atmosphere and increase in awareness about the health issues among end-users boost the market's growth. However, the small number of global manufacturers of in-vehicle air purifiers, high cost, and non-standardization of air purification system restrain the market growth. Furthermore, the development of advanced& low-cost air purifier systems and expansion in untapped markets of Asia-Pacific &LAMEA are expected to provide lucrative growth opportunities for the market players.
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KEY FINDINGS OF THE STUDY
COVID-19 IMPACT ANALYSIS
The key players operating in the global automotive in-vehicle air purifier market are DENSO Corporation, Eureka Forbes, Guangzhou Ionkini Technology Co., Ltd., Honeywell International Inc., KENT RO Systems Ltd., Koninklijke Philips N.V., Livpure Smart, Power4 Industries Limited, Purafil, Inc., and Sharp Corporation.
According to a recent report published by Allied Market Research, titled, “Automotive Hypervisor Market Share by Vehicle Type, Type, Level of Automation and Vehicle Class: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global automotive hypervisor market was valued at $131.20 million in 2020, and is projected to reach $2,037.60 million by 2030, registering a CAGR of 31.9% from 2021 to 2030.
North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific and LAMEA. U.S. dominated the global automotive hypervisor market share in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in demand for vehicles equipped with advanced features across the region.
Hypervisor is a virtualization process of hardware that is used to build and operate virtual machines. It consists of a host and a guest machine where different guests can operate using the same host. Automotive hypervisor is an advance embedded technology which is widely used in vehicle infotainment application in the automotive industry. This technology involves visual assistance and virtualization of several hardware devices which can access the operating system via commonly connected devices.
Earlier, numerous vehicle functionalities were performed through multiple hardware systems which increased the ownership cost. Thus, hypervisor uses single embedded platform with high-power processor which solves lot of problems such as operational & security risks and lowers the cost of vehicle. The increasing demand of advanced features in vehicles is further creating more opportunities for the OEMs to expand their presence globally driving the growth of the automotive hypervisor market.
Numerous developments that are carried out by top manufacturers such as IBM, BlackBerry, Green Hills Panasonic Corporation and others toward the introduction of numerous infotainment & telematics features in vehicles has also created a wider space for growth of the automotive hypervisor market. Moreover, with launch of autonomous vehicles, demand for different safety technologies is expected to increase, which is expected to create numerous opportunities for operating companies to develop advanced products that leads to the growth of the market.
The global automotive hypervisor market is segmented into vehicle type, type, level of automation, vehicle class and region. Based on vehicle type, the market has been segmented into passenger cars, light commercial vehicles and heavy commercial vehicles. Based on type, the automotive hypervisor market has been segmented into Type 1 and Type 2. Based on the level of automation, the market has been segmented into semi-autonomous and fully autonomous. Based on the vehicle class, the market has been segmented into mid-priced and luxury. By region, the global market is analyzed across into North America, Europe, Asia-Pacific and LAMEA.
Factors such as growth of connected infrastructure, adoption of ADAS features in vehicles and intervention of innovative technologies for advanced user interface (UI) supplements the growth of the global automotive hypervisor market. Moreover, the factors such as high manufacturing cost and troubleshooting & maintenance of automotive software hampers the growth of the global automotive hypervisor market.
However, the factors such as improved performance of autonomous vehicles and data monetization in extended automotive ecosystem are the factors that are expected to create a positive impact on the growth of automotive hypervisor market in the near future.
Key Findings Of The Study
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Covid-19 Impact Analysis
The key players operating in the global automotive hypervisor market includes BlackBerry, Green Hills, IBM, NXP Semiconductors, Panasonic Corporation, Renesas Electronic Corporation, Sasken, Siemens AG, Visteon and Wind River.
According to a recent report published by Allied Market Research, titled, “Light Commercial Vehicle (LCV) Market Sizeby Vehicle Type, Propulsion Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global light commercial vehicle (LCV) market was valued at $463.00 billion in 2020, and is projected to reach $786.50 billion by 2030, registering a CAGR of 5.3%.
North America dominates the market in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. U.S. garnered the highest share in 2020. However, LAMEA is expected to grow at a significant rate during the forecast period, due to increase in demand for LCVs across the region.
Light commercial vehicle (LCV) is designed to carry out numerous commercial & industrial operations across various industries. LCVs are designed in such a way that their load capacity is moderate and at the same time can carry out operations related to the transportation of goods & services from one place to another. Different types of LCVs have been made available by different manufacturers, which are used for different operations. Moreover, with the availability of electric vehicles, the demand for green fueled LCVs has increased, which has enabled the LCV manufacturers to develop & introduce electric & hybrid LCVs.
In addition, numerous developments have been carried out by key manufacturers such as Tata Motors, Honda Motor Company, Hyundai Motors, and Ford Motor Company toward the introduction of electric powered LCVs, which has supplemented the growth of the global LCV market. In line with the same, implementation of stringent government restrictions toward harmful vehicular emission coupled with the support provided by governments toward the adoption of green fuel vehicles has created a positive impact on the growth of the global light commercial vehicle market.
The global light commercial vehicle (LCV) market is segmented into vehicle type, propulsion type, application, and region. On the basis of vehicle type, the market is categorized into pickup trucks, light trucks, and others. By propulsion type, it is segregated into internal combustion engine (ICE) and electric & hybrid. Commercial use and industrial use are the major applications of light commercial vehicles. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as development of the automotive industry, increase in industrial activities, and expansion of the e-commerce industry act as the key driving forces of the global light commercial vehicle (LCV) market. However, enforcement of stringent emission norms and availability of alternate vehicles are expected to hamper the growth of the market. Moreover, factors such as increase in government initiatives for promotion of e-mobility and rise in demand for electric trucks from the logistics sector are expected to create a positive impact on the global market.
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KEY FINDINGS OF THE STUDY
COVID-19 IMPACT ANALYSIS
The key players analyzed in this report are Ashok Leyland, Ford Motor Company, Gaz Group, General Motors, Honda Motor Company, Hyundai Motor Company, Isuzu Motors, Renault Group, Tata Motors, and Toyota Motors.
According to a new report published by Allied Market Research, titled, “Recreational Vehicle Market Demand," The recreational vehicle market was valued at $57.3 billion in 2021, and is estimated to reach $117.0 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.
North America is expected to dominate the global recreational vehicle market. Recreational activities across North America have witnessed significant growth from previous years owing to changes in lifestyle and surge in inclination toward recreational activities. U.S. is expected to maintain its dominance during the forecast period owing to the changes in recreational industry outlook and changes in design consideration of the recreational vehicle.
Key players operating in recreational vehicle market are introducing new electric motorhomes recreational vehicle in the market which fuels the growth of the market. For instance, in January 2022, Thor unveiled an electric motorhome concept with 300 miles range. The Thor Vision Vehicle is powered by a high-capacity battery pack and an integrated fuel cell.
The global recreational vehicle market is experiencing growth, due to changing outlook of the leisure and recreational activities, surge in recreational vehicle rental services, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of recreational vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The spread of the COVID-19 pandemic has positively impacted the global recreational vehicle (RV) market. Recreational vehicle industry observed rise in the sales of recreational vehicles during the pandemic period as people started to prefer staying in recreational vehicle such as caravans in comparison to hotels. For instance, the Recreational Vehicle Industry Association observed North American RV sales rose to 4.5% in 2020, to 424,400 units.
In addition, the recreational vehicle manufacturers faced a shortage in the supply of raw materials, owing to the pandemic quarantine measures and restrictions. Majority of the domestic market participants especially from North America and Europe depend on the Asia-Pacific countries such as China, Australia, and other countries for the supply of the raw materials. Supply chain disruption results to hamper manufacturing activities of the recreational vehicles, thereby resulted in delay in the production of recreational vehicles.
However, with the removal of lockdown restrictions, rise in the recreational vehicle rental services has been observed, which is expected to drive the growth of the market during the forecast period. Furthermore, post-pandemic, growing demand for technologically advanced recreational vehicles has also been observed, which in turn is expected to provide ample opportunities for the RVs market during the forecast period.
KEY FINDINGS OF THE STUDY
Key players operating in the global recreational vehicle market include Airstream, Coachment RV, Cruiser RV, Entegra Coach, Forest River Inc., Gulfstream Coach Inc., Jayco Inc, Newmar Corporation, Oliver Travel Trailer, Thor Industries Inc, Tiffin Motorhomes, and Winnebago Industries.
According to a new report published by Allied Market Research, titled, “Warehousing and Distribution Logistics Market Trends, by Type (Solution, Services), by Mode of Operation (Storage, Roadways Distribution, Seaways Distribution, Others), by End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government and Public Utilities, Banking and Financial Services, Retail, Media and Entertainment, Trade and Transportation, Others), by Business Type (Warehouse, Distribution, Value Added Services): Global Opportunity Analysis and Industry Forecast, 2023-2032" The warehousing and distribution logistics market size was valued at $9.2 trillion in 2022, and is estimated to reach $18107.3 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
The booming e-commerce industry in the emerging economies such as India and China is expected to drive the growth of the market. In addition, increased adoption of outsourced logistics services and high government support for development of logistics infrastructure in the countries such as China, India, and Japan drives the growth of the warehousing and distribution logistics market size.
Additionally, the trend toward outsourcing logistics services allows businesses to focus on core activities while leveraging third-party providers' expertise and infrastructure. This shift boosts demand for specialized logistics solutions.
Government initiatives in countries like China, India, and Japan, such as investments in logistics infrastructure and supportive policies, further stimulate market growth. Enhanced infrastructure reduces transportation costs and improves supply chain efficiency, making it easier for businesses to scale operations and meet rising consumer expectations.
The Warehousing and Distribution Logistics Industry is experiencing robust growth driven by the surge in e-commerce, particularly in emerging economies like India and China, is a significant factor, as it heightens the demand for advanced warehousing and efficient distribution solutions to handle increasing order volumes and customer expectations for rapid delivery. The expansion of omnichannel retailing further accelerates this demand, requiring integrated logistics systems that seamlessly manage inventory across multiple sales channels.
Technological advancements of warehousing and distribution logistics industry, with automation, robotics, and artificial intelligence enhancing operational efficiency and accuracy in warehousing processes. Smart warehousing solutions, including real-time tracking and data analytics, are becoming essential for optimizing inventory management and reducing costs.
Furthermore, factors such as expansion of the e-commerce industry, surge in demand for warehousing and distribution logistics market growth, increase in volume of inventory are anticipated to boost the growth of the global warehousing and distribution logistics market trends during the forecast period. However, lack of control of manufacturers on logistics service and poor infrastructure and high initial cost of automated warehouses are expected to hinder the market growth.
On the contrary, increase in trend of automation in warehouses and rise in demand for express delivery are expected to offer remunerative warehousing and distribution logistics market opportunity for the expansion of the warehousing and distribution logistics market share during the forecast period.
The trend toward outsourcing logistics services is also notable, as businesses seek to capitalize on third-party providers’ expertise and infrastructure to streamline operations and focus on core competencies. In addition, high government support in countries like China, India, and Japan, through investments in logistics infrastructure and favorable policies, is further driving market growth by improving supply chain efficiency and reducing logistical bottlenecks.
These combined factors are propelling the warehousing and distribution logistics market analysis to new heights, with sustained growth anticipated as global trade and e-commerce continue to expand.
The warehousing and distribution logistics market forecast is segmented into end use, business type, mode of operation, type, and region. By end use, the market is divided into healthcare, manufacturing, aerospace, telecommunication, government & public utilities, banking & financial services, retail, media & entertainment, trade & transportation, and others. On the basis of business type, it is segregated into warehouse, distribution, and value-added services. Depending on mode of operation, it is fragmented into storage, roadways distribution, seaways distribution, and others. As per type, it is bifurcated into solution and services. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Study
The key players that operate in this Warehousing and Distribution Logistics Market share are Agility, Ceva Logistics, CJ Century Logistics, CWT Ltd., DB Schenker, DHL Supply Chain, Gemadept, Keppel Logistics, Kerry Logistic, Kuehne+Nagel, Singapore Post, Tiong Nam Logistics, WHA Corp., YCH Group, Yusen Logistics, Manhattan Associates, Blue Yonder, Easy Metrics, TZA (Supply Chain 24/7), SAP SE, NextView, and Tecsys.
According to a new report published by Allied Market Research, titled, “Car Care Product Market Growth," The car care product market was valued at $13 billion in 2021, and is estimated to reach $22.6 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
The concept of car care product is typically attributed to high-quality chemicals that are used for better gloss, permanency, and shine of the vehicles. Several products such as polishes, waxes, tire cleaners, paint protection products, glass cleaners, and rim protectors are available in the market, which are used for car care services. These products majorly avoid and fix damages such as scratches to maintain the external look & improve the visual appearance. It also takes care of interior cleanliness and provides an aesthetic feel to the vehicle interior. At present, considering the success of e-commerce platforms and increasing consumer spending on car care products to maintain the aesthetics of a vehicle, many car care product manufacturers such as 3M, Illinois Tool Works, SONAX, and others, have adopted this strategy to sell their car care products through online platforms and retail stores as well. These manufacturers are not only selling their products through other e-commerce sellers such as Amazon and Flipkart but also through their indigenous websites.
In addition, the car care product market has witnessed significant growth in recent years, owing to the increased concerns related to vehicle’s cleanliness, restoration of old cars, and increased sales of used cars. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches, to increase their market share and expand their geographical presence. For instance, in March 2021, Chemical Guys launched the HydroView as its latest product in advanced ceramic protection for windows and windshields. It served as a hydrophobic two-in-one glass cleaner and ceramic coating protectant which allowed anyone to quickly clean and ceramic coat their glass windows and windshields.
The factors such as stringent government regulations to replace or upgrade vehicle components, growth of automotive after sale services, and adoption of ecommerce platforms by leading players supplement the growth of the car care product market. However, volatile prices of raw materials and usage of hazardous chemicals in car care products are the factors expected to hamper the growth of the market. In addition, rise in trend of vehicle customization coupled with increase in disposable income and development of anti-microbial car care products creates market opportunities for the key players operating in the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak severely impacted the automotive sector on a global level, which in turn led to considerable drop in automotive sales, insufficiency of raw material, and others. Many small and big players in the automotive sector is witnessing issues such as a halt of production activities, mandated plant closures by the government, and others. As a result, the production of car care product witnessed decline due to the world's economic ecosystems. Furthermore, the overall auto industry, including members in value chain faced uncertainty in their respective businesses. However, the auto industry has shown tremendous resilience over the last few months. From the economic depths experienced in spring 2020, it has rebounded to deliver year-over-year growth in new-vehicle sales across China, Europe, and the US over the last few months. Similarly, the fastest recovery rates owing to the strict lockdowns and social distancing to contain the spread of the virus in some regions are also expected to boost the demand for the car care product industry.
KEY FINDINGS OF THE STUDY
The leading players operating in the car care product market are 3M, Adolf Würth GmbH & Co. KG, Amtra Sp. z o.o., ARMOR ALL, Auto Magic, Autoglym, Cartec BV, Chemical Guys, Illinois Tool Works Inc., Jopasu India Pvt. Ltd., Liqui Moly GmbH, MA-FRA S.p.A., Northern Car Care, Simoniz USA, SONAX GmbH, Tetrosyl Ltd., and Turtle Wax, Inc.
According to a new report published by Allied Market Research, titled, “Connected Truck Market Growth," The connected truck market was valued at $22.20 billion in 2021, and is estimated to reach $97.38 billion by 2031, growing at a CAGR of 16.1% from 2022 to 2031.
North America is expected to dominate the global connected truck market in 2021. The connected truck market in North America is anticipated to experience significant growth due to the incorporation of new telematics platform for safe and cost-effective fleet management and investment partnership between telematics and automobile insurance companies. In addition, incorporation of advanced telematics solutions by leading market players also fuels the growth of the connected truck market in North America.
The connected truck market will be affected by the recent trend of development of self-driving trucks. Top OEM’s such as Tesla, Volvo, Vera, and Daimler among others, have been developing self-driving trucks for the market. Startups such as Waymo, Einride, TuSimple, and others, have also started developing self-driving trucks. For instance, Tesla announced a plan to launch its self-driving electric truck by the end of 2022.
For instance, Waymo has started testing its self-driving trucks since January 2020. Similarly, TuSimple plans to operate autonomous trucking routes between Pheonix and Tucson in Arizona and some areas in Texas. Further, in May 2019, Einride started its testing for driver-less trucks. In January 2019, Daimler announced an investment of $570 million for self-driving trucks (Level 4). Thus, self-driving technology is expected to increase demand the for connected trucks and electric vehicles in the long run due to the various advantages such as reduced accident risk, easy use, and presence of value-added features among others.
The growth of the connected truck market is witnessing growth, due to increase in use of telematics in automotive sector, and ease of vehicle diagnosis. However, threat of cyber-attacks, and lack of uninterrupted & seamless internet connectivity are the factors hampering the growth of the market. Furthermore, development of self-driving trucks is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing decline in the sales of automobiles, shortage of semiconductor components, and temporary shutdown of many production sites across the globe, which in turn impacted the demand for connected trucks. For instance, in 2020, global automobiles production recorded a drop of 16% in vehicle production.
In addition, several automobile manufacturers faced shortage of components such as semiconductor chips, and others, which further resulted in delay in production of connected trucks. Heavy-duty truck manufacturers are still struggling to keep up with demand as shortages of semiconductors and other parts curb production.
COVID-19 also impacted the production of trucks across the globe. It forced automobile manufacturers to temporarily shut down their production plants, owing to lack of workforce. For instance, in May 2020, Ford temporarily shut down its two separate production plants as the employees tested positive for COVID-19. One plant in Chicago that manufactures Ford Explorer, the Lincoln Aviator, and Ford Interceptor; and the second plant in Dearborn Michigan that manufactures F-150 pickup truck, were temporarily shut down.
However, with the easing of lockdown restrictions, several truck manufacturing companies has observed growth in the sales of truck and buses, which fuels the growth of the connected truck market during the forecast period. For instance, in 2021, Daimler Truck has reported 20% year-on-year growth in sales of truck and buses with 455,400 units sold across the globe.
KEY FINDINGS OF THE STUDY
Key players operating in the global connected truck market include AB Volvo, Borgwarner Inc. (Delphi Technologies Plc), Continental AG, Denso Corporation, Geotab Inc., HARMAN International, Magna International Inc., Mix Telematics, Robert Bosch GmbH, Sierra Wireless, TomTom International BV, Trimble Inc., Verizon Communications, and ZF Friedrichshafen AG.