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Growing automotive industry: The Silver Line
With the advent of new technology in the as advent of IoT, automated cars, etc. automotive industry, and growing price of petrol across the globe is increasing the demand for the fuel-efficient vehicles. In 2015, around 24 million units of light weight vehicles are sold in China only, whereas in North America around 20 million, and in Europe around 19 million units were sold. These numbers are expected to rise to 31.7 million in China, 21.4 million in Europe and 22 million in North America by the end of 2018. The growing automobile production in the emerging countries is one of the major factor which is increasing the growth in the automotive market of emerging countries. In Asia, China is the biggest manufacturer, in 2015 China has produced around 35 million cars which is the largest in the world and consumer of light weight vehicles. Thus, the growing technological upgradation in the automotive industry is creating the demand for light weight and fuel efficient cars across the globe.
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Asia Pacific; the profitable market
The increasing production of automotive vehicles is one of the major reasons which is pushing the carbon thermoplastic in automotive market. North America market holds the largest revenue share of 36% owing to rising demand for light weight and fuel efficient vehicles in the region. In North America, around 18 million vehicles were produced in 2015. Asia Pacific is growing with an impressive CAGR of around 34% during the forecasted period. The growth in Asia Pacific is majorly attributed by the increasing investment activities across the region for the development of light weight vehicles in the region. China is the major contributor towards the growth of the market. Growth in China is attributed by huge production of cars in the region, in 2015 around 35 million vehicles being produced by China only out which around 24 million light weight vehicles were being sold in China only in 2015. Thus, the growing production activity in China is one of the major contributors towards the growth of the Asia Pacific carbon thermoplastic in automotive market.
About Occams Business Research & Consulting (OBRC)
Occams Business Research & Consulting has been in the business (Market Research) for the past three years. OBRC, based in India, is formed by two women analysts, Shyamal Moghe and Sathya Durga, who started the company after years of working as analysts and project managers for companies such as Frost & Sullivan, Smart Analyst etc. and have an excellent track record for the best customer satisfaction.
Shyamal Moghe (Shyamal Moghe)
Sathya Durga (Sathya Durga)
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