Industry news from SEMA-member companies, including AirSept, Torqued Distribution, AAM Group and more.
Study: Global ADAS Market Project to Reach $57 Billion by 2030 chads Sat, 10/01/2022 - 10:15
Subscribe to Industry News
A recent study published by Straits Research forecasts a huge upsurge in demand for advanced driver-assist systems (ADAS) through the remainder of the decade. Currently valued at $12.7 billion, the global ADAS market is expected to surpass $57 billion by 2030, with a compound annual growth rate (CAGR) of more than 18%, as originally reported by Aftermarket News. Increases in consumer demand combined with more disposable income, greater adoption by OE manufacturers and more stringent government mandates were all cited as contributing factors.
Land Rover will expand the Defender lineup next year with the introduction of the extended-wheelbase 130 variant, which has been spotted on Nürburgring.
Industry news from SEMA-member companies, including Yokohama Tire Corp., Hyundai Motorsport, Fullbay and more.
The automotive specialty-equipment industry continues to experience strong growth and demand as the United States puts COVID-19 in the rearview mirror. According to SEMA’s new “State of the Industry—Spring 2022” report, 75% of manufacturers, 68% of distributors and 53% of retailers/installers report that sales are currently above where they were prior to the pandemic, and consumer demand is equally higher for most companies than it was in 2019.
This wild Ford Bronco was built by Ford Performance from the OEM suppliers’ catalog.
Industry news from SEMA-member companies, including Power Automedia, AirSept, Grote Industries and more.
Russia’s invasion of Ukraine in March upset commodity and equity exchanges as traders worked to understand the impact the invasion would have on markets. Russia is the world’s largest exporter of wheat and the second-largest exporter of oil, providing 30%–40% of Europe’s oil, gas and coal. Both countries are also major exporters of commodities such as neon gas that are used to produce semiconductors. Several auto companies with production facilities in the two countries have suspended operations.
Hyundai’s Prophecy concept car will morph into the Ioniq 6 when it finally hits dealers in production form in 2023. As expected, spy shots now prove that the radical design of the Prophecy has been toned down for the production model.
Industry news from SEMA-member companies, including Continental, Race Winning Brands, CRP Automotive and more.