India Luxury Car Market 2023 | Industry Share, Size, Growth and Forecast 2028

IMARC Group, a leading market research company, has recently released report titled, “ India Luxury Car Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, The study provides a detailed analysis of the industry, including the India luxury car market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the India luxury car market?

The India luxury car market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.

What is India luxury car?

A luxury car is classified as a passenger and conventional vehicle designed with advanced applications and equipment to provide passengers with enhanced comfort. It offers superior competence, possesses high-quality interiors, and is equipped with leather seats and progressive devices, including cameras, maps, sensors, an anti-kidnapping heartbeat monitor, upgraded suspension, etc., as compared to standard medium-sized automobiles. In line with this, a luxury car has starlight headliners, trunk hinges, and entertainment and safety systems, which provide better service and optimal safety while enhancing overall vehicle performance. It is commercially available in the internal combustion engine and electric propulsion types. Consequently, a luxury car is gaining extensive traction in India.

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What are the growth prospects and trends in the India luxury car industry?

The expanding automotive sector and the growing consumer safety concerns are primarily driving the India luxury car market. Additionally, the launch of various favorable policies by government bodies to promote the utilization of premium electric vehicles (EVs) as a sustainable mode of transportation for cutting down carbon emissions is further catalyzing the market growth. Besides this, the escalating demand for luxurious autonomous cars with advanced features and security arrangements, on account of the inflation levels of disposable income, is acting as another significant growth-inducing factor. Moreover, the emerging trend of purchasing used luxury cars, owing to their lower entry price, easy access to financing, minimal annual maintenance contracts, etc., is increasing the market growth across the country. Apart from this, they are also integrated with personal voice assistance, artificial intelligence (AI)-enabled vehicle systems, retina recognition, hands-free connectivity, global positioning systems (GPS), etc. Furthermore, the introduction of variants that are embedded with electric vehicle components is anticipated to fuel the India luxury car market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Hatchback
Sedan
Sports Utility Vehicle

Breakup by Fuel Type:

Gasoline
Diesel
Electric

Breakup by Price Range:

Entry-Level
Mid-Level
High-End
Ultra

Breakup by Engine Capacity:

Upto 3,000 CC
Above 3,000 CC

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Europe Electric Vehicles Market 2023 | Industry Demand, Size and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled, “Europe Electric Vehicles Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the Europe electric vehicles market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Europe electric vehicles market?

The Europe electric vehicles market is projected to exhibit a growth rate (CAGR) of 39.30% during 2023-2028.

What is Europe electric vehicles?

Electric vehicles (EVs) are automobiles powered by one or more electric motors, using electricity stored in batteries or generated by an onboard fuel cell. Unlike traditional internal combustion (IC) engine vehicles that rely on fossil fuels, EVs produce zero tailpipe emissions, reducing air pollution and dependence on non-renewable resources. They contribute to a greener environment and lower carbon footprint. EVs are becoming more prominent as advancements in battery technology enhance their driving range and charging infrastructure improves. This shift toward EVs aligns with the rise in efforts to combat climate change and promote sustainable transportation alternatives. At present, EVs are gaining immense traction across Europe due to favorable government incentives, expanding charging infrastructure, and growing environmental consciousness.

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What are the growth prospects and trends in the Europe electric vehicles industry?

The Europe electric vehicles market is primarily driven by the implementation of stringent government regulations owing to the European Union’s commitment to reducing carbon emissions. Moreover, rising government subsidies and incentives for EV purchase and favorable taxation policies have escalated the adoption of electric vehicles among consumers. Apart from this, the expanding charging infrastructure across major European cities and highways that addresses range anxiety concerns and improves the feasibility of EV ownership is further propelling the market growth. Additionally, the increasing environmental concerns among consumers and advancements in battery technology have accelerated product adoption rare. Furthermore, traditional automakers and new entrants are intensifying their investments in EV development, enhancing competition and innovation, thus contributing to the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Component Insights:

Battery cells and packs
On-board charger
Fuel stack

Charging Type Insights:

Slow charging
Fast charging

Propulsion Type Insights:

Battery electric vehicle (BEV)
Fuel cell electric vehicle (FCEV)
Plug-in hybrid vehicle (PHEV)
Hybrid electric vehicle (HEV)

Vehicle Type Insights:

Passenger vehicles
Commercial vehicles
Others

Country Insights:

Germany
France
United Kingdom
Italy
Spain
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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Automotive Ecall Market 2023 | Industry Share, Size, Trends and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled, “Automotive Ecall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global automotive Ecall market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the automotive Ecall market?

The global automotive Ecall market size reached US$ 3,222 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,497 Million by 2028, exhibiting a growth rate (CAGR) of 9.50% during 2023-2028.

What is automotive Ecall?

Automotive Ecall, short for Emergency Call, is a preeminent technology ingrained in vehicles to augment the safety quotient by alerting emergency services during an accident or other vehicular emergencies. It works on a highly responsive system that automatically initiates a call to the nearest emergency center, conveying critical data, including the vehicle’s location, the time of the accident, and the direction of travel prior to the incident. The system also supports manual triggering, allowing the vehicle’s occupants to call for assistance if required manually. In recent years, this technology has emerged as a lifesaver, ensuring rapid response in critical situations. At present, it is widely adopted by auto manufacturers globally, backed by its integration into regulatory requirements in numerous regions worldwide.

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What are the growth prospects and trends in the automotive Ecall industry?

The global automotive ecall market is primarily driven by the rising concern over road safety and the increasing cases of road accidents. This has prompted regulatory bodies across the world to mandate the inclusion of the Ecall system in vehicles, which is contributing to market growth. Additionally, advancements in communication technologies are supporting the seamless operation of Ecall systems, thereby amplifying their adoption. In line with this, the emerging trend of connected cars and smart vehicles equipped with advanced telematics and the Internet of Things (IoT) is positively influencing market growth. Moreover, the leading automakers are focusing on improving in-car safety features owing to the growing consumer consciousness about vehicular safety and the importance of quick response times in an accident. Along with this, the heightening awareness among the masses is driving demand for vehicles equipped with emergency response systems such as Ecall. Furthermore, various automotive insurance companies recognize the potential of Ecall systems in minimizing the severity of accidents, leading to lesser claim amounts. This has resulted in insurance premium incentives for vehicles equipped with Ecall systems, fueling their adoption. Besides this, the development and integration of artificial intelligence (AI) and machine learning (ML) technologies in automotive systems can enhance the functionality of Ecall systems. Such technological advancements can improve the system’s accuracy in detecting collisions and improve the overall functionality, thereby contributing to market growth. This, coupled with the emerging trend of fleet management services, is also expected to catalyze the demand for Ecall systems. These services require real-time tracking and emergency management systems for large fleets, making Ecall an attractive addition. Other factors, including the advent of next-generation 5G technology with faster data transfer and real-time communication, rising investments in the development of smart cities, and technological innovations, are also providing a positive thrust to the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

Automatic eCall System
Manual eCall System

Installation Insights:

Third Party Service (TPS) E-Call
Standard E-Call

Vehicle Type Insights:

Passenger Cars
Commercial Vehicles

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Robert Bosch GmbH
STMicroelectronics N.V.
Texas Instruments Incorporated
Thales Group
u-blox AG, etc.

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India Refrigerated Trucks Market 2023 | Industry Size, Share and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled “India Refrigerated Trucks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the India refrigerated trucks market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the India refrigerated trucks market?

Report Attributes	Details
Market Size in 2022	INR 5.4 Billion
Market Forecast in 2028	INR 14.7 Billion
Growth rate (2023 to 2028)	CAGR of 18.1%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is refrigerated trucks?

Refrigerated trucks in India are specialized vehicles designed to transport perishable goods while maintaining lower temperatures to prevent spoilage or contamination. These trucks are equipped with mechanical refrigeration systems that utilize carbon dioxide (dry ice) as a cooling agent, effectively maintaining temperatures below freezing point. With direct drive systems, refrigerated trucks minimize the need for additional diesel engines, reducing costs. They are extensively utilized for transporting a variety of temperature-sensitive items, such as meat, fish, dairy products, fruits, vegetables, confectioneries, and pharmaceuticals. The use of refrigerated trucks ensures the preservation and quality of these goods during transportation, meeting the requirements of the Indian market.

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What are the growth prospects and trends in the India refrigerated trucks industry?

The growth of the cold chain logistics sector and the increasing presence of retail food services are the primary drivers of the refrigerated trucks market in India. The demand for frozen, chilled, and processed food items is rising due to busy work schedules and sedentary lifestyles, contributing to market expansion. Additionally, the availability of ready-to-cook snacks, seasonal fruits, and vegetables through both physical and online distribution channels has further boosted the use of refrigerated trucks for supply-based applications. Food retailers are also adopting advanced cold chain transportation facilities to enhance supply chain management. Furthermore, the need for safe transportation of temperature-sensitive products like vaccines, biopharmaceuticals, and clinical trial materials is propelling market growth. The introduction of hybrid product variants with phase change material (PCM) technology is expected to further drive the refrigerated trucks market in India, offering improved energy efficiency and enhanced operational features.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Capacity GVW:

02 – 4.5 Tons
7 – 7.5 Tons
11-12 Tons
18.5 Tons
28.5 Tons
35 Tons

Breakup by Sector:

Organized Sector
Unorganized Sector

Breakup by Body Type:

Fully Built
Customizable

Breakup by Application:

Meat and Fish
Dairy Products
Fruits & Vegetables
Confectionaries
Pharmaceutical
Others

Breakup by Region:

North India
West and Central India
South India
East India

Who are the key players operating in the industry?

The report covers the major market players including:

Carrier Airconditioning & Refrigeration Limited (Carrier Global Corporation)
Ice Make Refrigeration Limited
JCBL Limited
KOLD SEAL
Motherson Sumi System Ltd
Subros Limited
Surin International Private Limited
Tata Motors Limited
Trane Technologies India Pvt Ltd

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Off-The-Road Tire Market 2023 | Industry Share, Size, Growth and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled “Off-the-Road Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global off-the-road tire market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the off-the-road tire market?

Report Attributes	Details
Market Size in 2022	US$ 29.4 Billion
Market Forecast in 2028	US$ 39.8 Billion
Growth rate (2023 to 2028)	CAGR of 5.1%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is off-the-road tire?

Off-the-road (OTR) tire is widely available as all-terrains (A/T), mud-terrains (M/T), rock, and snow tires. It is puncture-resistant and has reinforced sidewalls that aid in avoiding damage and accidents on any terrain. It is rigid and has special tread patterns to provide easy mobility as compared to street tires. It assists in offering a firm grip on rocky, muddy, snowy, and sandy terrains. It provides safety and performance even in challenging off-road conditions. As it is utilized to create traction between the road and the vehicle for propulsion, the OTR tire is employed in the construction, mining, and agriculture industries across the globe.

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What are the growth prospects and trends in the off-the-road tire industry?

At present, the rising adoption of OTR tires in the agriculture industry for crop plotting and scouting, selecting rocks, and irrigation purposes represents one of the primary factors propelling the market growth. Besides this, the growing adoption of OTR vehicles in military operations to carry cargo, fuels, and ammunition is offering a positive market outlook. Apart from this, the increasing utilization of OTR vehicles, such as cranes, bulldozers, wheel loaders, telescopic handlers, and tractors, is positively influencing the market. Moreover, the rising demand for OTR tires in the construction industry for developing dams, bridges, and highways across the globe is bolstering the growth of the market. Furthermore, the increasing integration of several sensor-based technologies in OTR tires that offer real-time data analysis and monitor tire pressure and temperature is strengthening the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Mining Vehicles
Construction & Industrial Vehicles
Agricultural Vehicles
Others

Breakup by Tire Type:

Radial Tire
Bias Tire

Breakup by End-Use:

OEM
Replacement

Breakup by Distribution Channel:

Online
Offline

Breakup by Rim Size:

Below 29 inches
29-45 inches
Above 45 inches

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Apollo Tyres
Balkrishna Industries Limited
Bridgestone Corporation
Cheng Shin Rubber Ind. Co. Ltd.
China National Tire & Rubber Co. Ltd. (China National Chemical Corporation Limited)
Continental AG
Double Coin Holdings (Shanghai Huayi Group Corporation Limited)
JK Tyre & Industries Ltd.
Michelin
Pirelli & C. S.p.A.
The Goodyear Tire & Rubber Company
Titan International Inc.
Trelleborg Ab
Yokohama Rubber Co. Ltd.

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Motorcycle Lighting Market 2023 | Industry Growth and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled, “Motorcycle Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“ The study provides a detailed analysis of the industry, including the global motorcycle lighting market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the motorcycle lighting market?

Report Attributes	Details
Market Size in 2022	US$ 12.8 Billion
Market Forecast in 2028	US$ 26.6 Billion
Growth rate (2023 to 2028)	CAGR of 12.8%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is motorcycle lighting?

Motorcycle lighting encompasses a range of illuminating devices designed to enhance visibility for riders in low-light and challenging environments. It includes a variety of lights such as tail lights, turn signals, brake lights, accessory lights, headlights, auxiliary lights, accent lights, and styling lights. Motorcycle lighting employs different light sources such as xenon high-intensity discharge (HID), incandescent, halogen, and light-emitting diode (LED) lamps. These lighting components serve multiple purposes, including indicating the direction of the motorcycle, alerting other drivers and pedestrians, illuminating the road ahead, and improving visibility in adverse weather conditions. By effectively fulfilling these functions, motorcycle lighting plays a crucial role in accident prevention, maintaining safe distances, and enhancing the overall visibility of the vehicle.

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What are the growth prospects and trends in the motorcycle lighting industry?

The motorcycle lighting market is experiencing significant growth driven by several key factors. Firstly, the increasing global adoption of two-wheelers, driven by their cost-effectiveness, fuel efficiency, and improved mobility, is fueling market expansion. Additionally, motorcycle lighting is increasingly recognized as an essential component that enhances safety by enabling riders to navigate safely, prevent accidents, and maintain visibility in adverse weather conditions. Furthermore, the growing popularity of LED lighting is propelling market growth due to its superior safety features, lower failure rates, enhanced illumination, consistent beam patterns, and superior performance compared to OEM incandescent lamps. The introduction of adaptive lighting technology, which illuminates dark spots and eliminates dim corners during sharp turns, is also contributing to market growth by enhancing safety and increasing awareness of road hazards. Moreover, the emergence of laser ray technology, characterized by reduced power consumption, brighter white light, longer high beam throw distance, and non-blinding illumination for oncoming drivers, is expected to further drive the motorcycle lighting market in the future.

What is included in market segmentation?

The report has segmented the market into the following categories:

Product Insights:

Light-Emitting Diode (LED) Lamps
Halogen Lamps
Discharge Gas Lamps
Incandescent Lamps
Xenon Lamps

Application Insights:

Head Lights
Tail Lights
Turn Signal Lights
Others

Sales Channel Insights:

Original Equipment Manufacturers (OEMs)
Aftermarket

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Fiem Industries Limited
W. Speaker Corporation
Koninklijke Philips N.V.
Motolight
Osram Licht AG (ams AG)
Stanley Electric Co. Ltd.
UM Group
UNO Minda
Varroc Group, etc.

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E-Axle Market 2023 | Industry Size, Share and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled, “E-Axle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“ The study provides a detailed analysis of the industry, including the global E-axle market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the E-axle market?

Report Attributes	Details
Market Size in 2022	US$ 3.6 Billion
Market Forecast in 2028	US$ 10.9 Billion
Growth rate (2023 to 2028)	CAGR of 20.2%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is E-axle?

An electric axle (e-axle) is a compact electro-mechanical propulsion system that integrates into the axle network of battery electric vehicles (BEVs) to provide power for the wheels. It is constructed using lightweight and high-strength materials like aluminum, and consists of shafts, pinions, bearings, and gearing components. The e-axle combines electric motors, power electronics, and transmission into a single unit, reducing complexity and allowing for customization of torque, power, and installation space based on the specific needs of the end users. Automotive original equipment manufacturers (OEMs) rely on e-axle solutions to optimize the internal volume of vehicles, providing additional passenger space, increased battery capacity, and other enhanced features.

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What are the growth prospects and trends in the E-axle industry?

The e-axle market is being driven by the widespread adoption of hybrid electric cars (HEVs), commercial vehicles, and trucks, fueled by factors such as the growing trend of urbanization, increasing income levels, and expanding trade activities. Additionally, the rising awareness among individuals regarding the negative environmental and health impacts of fossil fuel-based vehicles is contributing to the market’s growth. The demand for e-axles is also on the rise due to their ability to enhance energy efficiency and provide improved performance in terms of noise, vibration, and harshness (NVH), as well as their support for high-performance scalability across various automotive applications. Furthermore, government bodies implementing policies to phase out the sales of fossil fuel passenger cars and reduce vehicle-based carbon dioxide (CO2) emissions are playing a significant role in driving market growth. Leading manufacturers are focusing on developing advanced e-axle products with high-strength casings capable of accommodating higher torque and input speeds, further propelling the growth of the e-axle market in the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component Type:

Combining Motors
Power Electronics
Transmission
Others

Breakup by Vehicle Type:

ICE Vehicles
Passenger Vehicle
Commercial Vehicle
Electric Vehicle

Breakup by Drive Type:

Forward Wheel Drive
Rear Wheel Drive
All Wheel Drive

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

AVL List GmbH
Axletech International (Meritor Inc)
Borgwarner Inc
Continental AG
Dana Incorporated
GKN Plc (Melrose Industries)
Nidec Corporation
Robert Bosch GmbH
Schaeffler Technologies AG & Co. KG
ZF Friedrichshafen AG (Zeppelin-Stiftung).

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Online Car Buying Market 2023 | Share, Growth and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled “Online Car Buying Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global online car buying market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the online car buying market?

Report Attributes	Details
Market Size in 2022	US$ 294.2 Billion
Market Forecast in 2028	US$ 563.8 Billion
Growth rate (2023 to 2028)	CAGR of 11.1%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is online car buying?

Online car buying is the method of purchasing cars, including hatchbacks, sedans, and sport utility vehicles (SUVs), through diverse online platforms. This approach provides numerous benefits such as enhanced pricing transparency and the convenience of shopping from the comfort of one’s home, saving time and effort. Additionally, it grants customers easy access to comprehensive information about vehicle availability, pricing, and other relevant details, empowering them to make informed decisions and complete their purchase. Furthermore, it facilitates the comparison of features among different vehicles, alleviating customer stress in the decision-making process.

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What are the growth prospects and trends in the online car buying industry?

The online car buying market is experiencing significant growth, primarily driven by the increasing consumer preference for the convenience offered by online channels. The rising number of internet users and the ongoing digitalization worldwide are further contributing to the positive market outlook. The emergence of third-party marketplaces that connect dealers and private sellers to buyers for new or pre-owned vehicles is also fueling market growth. Moreover, the continuous advancements in the telecommunication industry and the expanding availability of online car financing options are enhancing the demand for online car buying platforms. These factors collectively contribute to the growth and development of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Hatchback
Sedan
SUV
Others

Breakup by Propulsion Type:

Petrol
Diesel
Others

Breakup by Category:

Pre-Owned Vehicle
New Vehicle

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Asbury Automotive Group Inc.
AutoNation Inc.
Cargurus Inc.
com
com Inc.
Cox Automotive Inc
Group 1 Automotive Inc.
Hendrick Automotive Group
Lithia Motors Inc
TrueCar Inc.

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Quadricycle and Tricycle Market Size 2023 | Industry Share and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled “Quadricycle and Tricycle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global quadricycle and tricycle market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the quadricycle and tricycle market?

Report Attributes	Details
Market Size in 2022	US$ 6,729 Million
Market Forecast in 2028	US$ 12,250 Million
Growth rate (2023 to 2028)	CAGR of 10.3%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is quadricycle and tricycle?

A quadricycle, also known as a microcar, is a type of cycle with four wheels, whereas a tricycle has three wheels, two at the back and one at the front. They typically include iron handlebars, chain drives, leather belts, buggy, and rubber wheels. They are commonly used for intra-city commuting, recreational activities, exercise, and transporting goods. They can be operated using pedals or powered by electricity, solar energy, or gasoline. Their use helps improve the cost-effectiveness of short-distance travel and reduce the risk of chronic diseases. They occupy minimal road space, produce minimal emissions, and offer a safe mode of transportation. As a result, quadricycles and tricycles have gained immense popularity for personal and commercial purposes due to their greater stability and comfort.

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What are the growth prospects and trends in the quadricycle and tricycle industry?

The global quadricycle and tricycle market is primarily driven by rapid growth in the logistics and food industries. Moreover, the rising use of quadricycles and tricycles equipped with portable storage units by mobile food outlets and food carts for product delivery is positively influencing market growth. Additionally, the shifting consumer preferences toward quadricycles over four-wheelers due to their ease of maneuverability in high-traffic areas and convenient parking has catalyzed the market growth. Other factors, including favorable government initiatives supporting the uptake of small electric vehicles (EVs), technological advancements, and product innovations, are also anticipated to propel the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Quadricycle
Tricycle

Breakup by Power Source Type:

Electric
Gasoline
Solar

Breakup by Application Type:

Personal
Commercial

Breakup by Region

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Aixam-Mega (Polaris Inc.)
Bajaj Auto Limited
Bellier Automobiles
Bombardier Recreational Products Inc
Club Car
Estrima S.p.A
Ligier, Motor Trike Inc
Polaris Inc.
Tazzari Gl Imola Spa
Urban Tricycles Ltd.
Worksman Cycles Company Inc.

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Water Scooter Market Trends, Share, Size, Growth and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Water Scooter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global water scooter market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the water scooter market?

Report Attributes	Details
Market Size in 2022	US$ 1.6 Billion
Market Forecast in 2028	US$ 2.7 Billion
Growth rate (2023 to 2028)	CAGR of 2.7%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is water scooter?

Water scooters are recreational watercraft motor scooters designed for adventure activities and coastal movement on the sea and ocean. They come in various models such as fuel-powered, battery-powered, deep propulsion vehicles (DPVs), and water jet bikes. These water scooters typically feature a handlebar, a narrow platform for the feet, and a hydrofoil mechanism that propels the scooter in a downward and upward motion to facilitate movement. With their lightweight design, they are ideal for enhancing the range of divers during underwater explorations. Water scooter variants are also highly valuable for coast guards in ensuring beach safety. As a result, they are widely utilized across the globe for various purposes.

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What are the growth prospects and trends in the water scooter industry?

The water scooter market is experiencing significant growth driven by several factors. The expanding tourism industry, particularly in developing countries, and the increasing participation of individuals in various water sports and recreational activities such as scuba diving and jet skiing, are major drivers of market growth. Additionally, the usage of water scooters for underwater exploration is positively impacting the global market. Moreover, the rising demand for these scooters in rescue operations along coastal areas and during floods is another significant factor contributing to market expansion.

Furthermore, there are notable investments in research and development (R&D) activities to introduce energy-efficient and sustainable water scooter models with long-distance propulsion systems. Leading manufacturers are launching battery-powered water scooters equipped with high-definition (HD) cameras and sound systems for underwater vlogging and filmmaking, which is further stimulating market growth. Additionally, the use of water scooters in various military operations is on the rise, further fueling the market.

Overall, the water scooter market is poised for growth, fueled by the expanding tourism industry, increasing water sports participation, underwater exploration needs, rescue operations, advancements in technology, and military applications.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Under Water
Water Surface

Breakup by Propulsion Type:

Fuel Operated
Battery Operated

Breakup by Application:

Personal
Commercial
Military

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Bombardier Recreational Products Inc
Dive Xtras Inc.
Divertug
Kawasaki Heavy Industries Ltd.
Nellis Engineering Inc.
SubGravity
Suex Srl
Torpedo Inc.
TUSA Inc.
Yamaha Motor Co. Ltd.

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