The global power sports market size was USD 37.80 billion in 2023, calculated at USD 39.95 billion in 2024 and is expected to reach around USD 69.40 billion by 2034, expanding at a CAGR of 5.67% from 2024 to 2034. The North America power sports market size reached USD 18.14 billion in 2023. The growth of the market is driven by the rising interstate towards the adventurous activities and the tourist activities are driving the growth of the power sports market.
The global e-commerce automotive aftermarket size was USD 224.5 billion in 2023, calculated at USD 250.39 billion in 2024 and is expected to reach around USD 745.90 billion by 2034. The market is expanding at a solid CAGR of 11.53% over the forecast period 2024 to 2034. The North America e-commerce automotive aftermarket size reached USD 74.09 billion in 2023. The rising demand for online shopping across the world is driving the growth of the e-commerce automotive aftermarket.
The global passenger car accessories aftermarket size was USD 530.20 billion in 2023, calculated at USD 556.68 billion in 2024 and is expected to reach around USD 906.30 billion by 2034, expanding at a CAGR of 4.99% from 2024 to 2034. Stringent government regulations to replace or upgrade the accessories and an increase in the trend of vehicle customization, along with an increase in disposable income, promote the passenger car accessories aftermarket growth.
The global bucket trucks market size was USD 1.32 billion in 2023, calculated at USD 1.42 billion in 2024 and is expected to reach around USD 2.93 billion by 2034, expanding at a CAGR of 7.53% from 2024 to 2034. The need for the bucket trucks market in maintenance and repairs rises along with the requirement for utilities such as power, telephones, and other services.
The global silicone in electric vehicles market size was USD 6.70 billion in 2023, calculated at USD 7.33 billion in 2024 and is expected to reach around USD 18.04 billion by 2034. The market is expanding at a solid CAGR of 9.42% over the forecast period 2024 to 2034. Asia Pacific led the silicone in electric vehicles market with the largest revenue share of 44% in 2023. The rising demand for high-performance EVs across the world is driving the growth of the silicone in the electric vehicles market.
The global electric vehicle fluids market size was USD 748.22 million in 2023, calculated at USD 962.36 million in 2024 and is expected to reach around USD 11,924.02 million by 2034. The market is expanding at a solid CAGR of 28.62% over the forecast period 2024 to 2034. Rising inclination towards electric vehicles worldwide to combat environmental changes and governments increasing approvals for electric vehicles (EVs) are the major factors driving the electric vehicle fluids market globally.
The global automotive lubricants market size was USD 70.48 billion in 2023, calculated at USD 71.76 billion in 2024 and is expected to reach around USD 84.41 billion by 2033, expanding at a CAGR of 1.82% from 2024 to 2033. Increasing adoption of high-quality and environment-friendly automotive lubricants, which are further compatible with the technically advanced engines in the automotive market, are the major driving factors of the global automotive lubricants market.
The global electric vehicle sensor market size was USD 13.12 billion in 2023, calculated at USD 15.11 billion in 2024 and is expected to reach around USD 53.75 billion by 2033. The market is expanding at a solid CAGR of 15.14% over the forecast period 2024 to 2033. The rise in adoption of electric vehicles due to the rising concern about the depleting fossil fuels and environmental pollution that accelerate the demand for the market.
The global self-driving cars and trucks market volume was 152.70 thousand units in 2023, calculated at 224.21 thousand units in 2024 and is expected to reach around 7112.07 thousand units by 2033, expanding at a CAGR of 46.83% from 2024 to 2033.
The global low-speed electric vehicle market size was USD 7.98 billion in 2023, calculated at USD 9.18 billion in 2024 and is expected to reach around USD 32.61 billion by 2033. The market is expanding at a solid CAGR of 15.12% over the forecast period 2024 to 2033. The rising demand for low-speed electric vehicles in commercial places drives the growth of the low speed electric vehicle market.
The global minivans market size was USD 106.12 billion in 2023, calculated at USD 109.21 billion in 2024 and is expected to reach around USD 141.38 billion by 2033, expanding at a CAGR of 2.91% from 2024 to 2033. Increasing disposable income, affordability, and spending on passenger vehicles are major factors influencing the minivans market growth.
The global internal combustion engine market demand was 1,98,641 thousand units in 2023, calculated at 2,16,995.43 thousand units in 2024 and is expected to reach around 4,80,712.93 thousand units by 2033, expanding at a CAGR of 9.24% from 2024 to 2033.
The global large SUVs market size was USD 324.11 billion in 2023, calculated at USD 326.38 billion in 2024 and is projected to surpass around USD 347.53 billion by 2033, expanding at a CAGR of 0.70% from 2024 to 2033. The market is majorly driven by the increasing demand from the Middle East and Europe, attributed to the rising popularity of sports utility vehicles.
The global high-voltage hybrid vehicle market size was USD 178.57 billion in 2023, calculated at USD 215.57 billion in 2024 and is expected to reach around USD 1,173.81 billion by 2033, expanding at a CAGR of 20.72% from 2024 to 2033. High-voltage hybrids and other alternative fuel cars are becoming more and more popular among consumers as a result of rising fuel prices and worries about the stability and long-term availability of fossil fuel supply.
The global light duty vehicles market size was USD 801.04 billion in 2023, calculated at USD 872.49 billion in 2024 and is expected to reach around USD 1,882.48 billion by 2033, expanding at a CAGR of 8.92% from 2024 to 2033. The rising demand for light-duty electric trucks worldwide is driving the growth of the light duty vehicles market.
The global cable cars and ropeways market size was USD 4.68 million in 2023, calculated at USD 5.20 million in 2024 and is expected to reach around USD 13.54 million by 2033. The market is expanding at a solid CAGR of 11.21% over the forecast period 2024 to 2033. The rising adoption of cable cars as an alternative travel medium in urban areas is driving the growth of the market.
The global automotive cabin air filter market size was valued at USD 4.95 billion in 2023 and is anticipated to reach around USD 9.07 billion by 2033, growing at a CAGR of 6.24% from 2024 to 2033. Rising vehicle production globally has led to increasing emissions of excessive greenhouse gases.to combat this, stringent regulations have been made by authorities for the maintenance of air quality, propelling the automotive cabin air filter market.
The global autonomous forklift market size was valued at USD 4.51 billion in 2023 and is anticipated to reach around USD 13.91 billion by 2033, growing at a CAGR of 11.92% from 2024 to 2033. Technological advancements, along with the rising application of autonomous forklifts across several industries, including automotive, e-commerce, aviation, metals & heavy machinery, etc., are responsible for driving the growth of the autonomous forklift market.
The global industrial vehicle market size was valued at USD 41.72 billion in 2023 and is anticipated to reach around USD 65.60 billion by 2033, growing at a CAGR of 4.63% from 2024 to 2033.
The U.S. automotive retrofit electric vehicle powertrain market size was valued at USD 64.62 billion in 2023 and is anticipated to reach around USD 210.15 billion by 2033, growing at a CAGR of 12.51% from 2024 to 2033.
The global industrial electric vehicle market size was valued at USD 23.25 billion in 2023 and is anticipated to reach around USD 72.28 billion by 2033, expanding at a CAGR of 12.01% from 2024 to 2033. The increasing awareness about the environment friendly fuel based automobile alternatives that are driving the growth of the market.
The global go kart market size was valued at USD 149.34 billion in 2023 and is anticipated to reach around USD 211.88 billion by 2033, growing at a CAGR of 3.56% from 2024 to 2033. The technological evolution of go karts by integration of electric propulsion system that drives the growth of the market.
The global pit bike market size was valued at USD 2.14 billion in 2023 and is projected to reach USD 4.22 billion by 2033, growing at a CAGR of 7.02% from 2024 to 2033.
The global automotive seat market size was valued at USD 90.58 billion in 2023 and is anticipated to reach around USD 133.05 billion by 2033, growing at a CAGR of 3.92% from 2024 to 2033. The primary reasons behind the growth of this market are a rise in the automotive industry and rising competition among key players to provide maximum comfort.
The global quantum computing in automotive market size was valued at USD 245.10 million in 2023 and is anticipated to reach around USD 5,305.56 million by 2033, expanding at a CAGR of 36% from 2024 to 2033. In the automotive industry, quantum computing holds promise across various areas such as vehicle design, manufacturing, supply chain optimization, and autonomous driving thus driving the market growth globally.
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