The Automobiles And Heavy Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Automobiles And Heavy Equipment Global Market Report 2024, The automobiles and heavy equipment market size has grown strongly in recent years. It will grow from $340.78 billion in 2023 to $373.67 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to industrialization and urbanization, increasing demand for personal transportation, government policies and regulations, rising disposable income and economic growth.
The automobiles and heavy equipment market size is expected to see strong growth in the next few years. It will grow to $527.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to growing demand for electric and hybrid vehicles, adoption of automation and robotics technology, increasing focus on sustainability and energy efficiency, private sector investment and real estate sector growth. Major trends in the forecast period include use of artificial intelligence, advances in technology, supply chain traceability, use of high-resolution imaging radar technology and adoption of automated software solutions.
The growing demand for autonomous transportation is expected to drive the growth of the automobile and heavy equipment trucking markets over the forecast period. An autonomous vehicle utilises a fully automated driving system to enable it to react to external conditions that a human driver would handle. For instance, in January 2022, according to G2.com Inc., a US- corporation specializing in information technology and the internet, the global autonomous vehicle business is increasing at a pace of 16% per year, and over 1,400 self-driving trucks, cars, and other vehicles are being evaluated. Therefore, the growing demand for autonomous transportation drives the growth of the automobile and heavy equipment trucking markets.
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The automobiles and heavy equipment market covered in this report is segmented –
1) By Type: Business Services; Managed Services; System Integrator; Other Types
2) By Size: Heavy Trucks; Medium Trucks; Light Trucks
3) By Application: Cars And Light Trucks; Medium And Heavy Trucks; Farm And Construction Equipment; Other Applications
The automobiles and heavy equipment market report table of contents includes:
1. Executive Summary
2. Automobiles And Heavy Equipment Market Characteristics
3. Automobiles And Heavy Equipment Market Trends And Strategies
4. Automobiles And Heavy Equipment Market – Macro Economic Scenario
5. Global Automobiles And Heavy Equipment Market Size and Growth
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31. Global Automobiles And Heavy Equipment Market Competitive Benchmarking
32. Global Automobiles And Heavy Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automobiles And Heavy Equipment Market
34. Automobiles And Heavy Equipment Market Future Outlook and Potential Analysis
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