The automotive and transportation sector is experiencing rapid changes. Regular technical upgrades around a variety of automotive offerings like two wheelers, HCVs and LCVs are the requirement of today.
To prosper in this market, firms are required to deal with this shifting demand along with the price efficient solutions while fulfilling the ecological norms and propel economic pressure. Organizations also require to assess other relevant segments like lubricant segments and fuel segments to assure the feasibility of automotive and transportation sector.
The worldwide economic downturn in year 2009 adversely affected the automotive and transportation sector. This in turn affected the aftermarket industry, which was observed in the slow development of these automotive and transportation markets of USA and Europe. But the enhancements in the gross domestic product across the globe stimulated favorable forecasts for this industry all around the world. The universal automotive and transportation market is benefitted from a big amount of universal vehicles fleet which provide good prospects for substitutes and repairs. A greater use of aftermarket components will prove significant in assisting customers maintain their vehicles for an elongated time.
Automotive original device producers are required to continuously respond to shifting customer demand on the performance of the vehicles. It also incorporates pioneering and reliable technique which supports security and increases fuel efficacy.
The automotive and transportation industry will observe healthy growth and expansion in future. The automotive and transportation market of Asia Pacific zone is predicted to evolve as a market leader in future owing to heavy demand for automotive parts, high industry potential for growth and cost effective production processes in this zone. Further in nations like India and China, original device producers heavily focus on enhancing reliable supply chains to increase their own accomplishment around the industry. In addition to this, the growing significance of electronics equipments and operational incorporation of green parts and sustainable items will further enhance the industrial growth and expansion.
The automotive and transportation market by vehicle type includes different kinds of vehicles like military vehicles, passenger cars, buses, commercial vehicles, heavy trucks, mining vehicles, two wheeled vehicles, specialty vehicles and three wheeled vehicle. The automotive and transportation sector by vehicle kind is led by passenger car vehicles succeeded by commercial car vehicles.
Vehicles running or operating or functioning on gasoline fuel are leading the Asia Pacific Zone while vehicles running on diesel reign supreme in European zone. Vehicles functioning on natural gas, electricity and batteries will gain importance in future due to its cost efficacy. On other hand, the presence of hybrid vehicles is established greater in sub continent of North America, continent of Europe and Japan.