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Industrials
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The Asia-Pacific region is expected to lead the market, driven by increasing installations in China and India.
The global solar power market, valued at USD 253.69 billion in 2023, is projected to reach USD 273 billion in 2024 and USD 436.36 billion by 2032, with a CAGR of 6% during the forecast period. North America led the market with a 41.30% share in 2023.
The smartphone market is highly competitive, with Apple and Samsung at the forefront.
The global automobile industry is anticipated to continue its growth in the coming years, fueled by trends such as electrification, autonomous driving, shared mobility, and connectivity.
The global aerospace and defense market, worth about USD 750 billion in 2022, is projected to grow to ~USD 1,388 billion by 2030, with a compound annual growth rate (CAGR) of around 8.2% from 2023 to 2030.
The electric vehicle (EV) industry faces challenges amidst declining global sales, with automakers showing a preference for hybrid vehicles over pure EVs.
The company places a strong emphasis on its European retail network, as evidenced by the recent opening of a new facility in Stuttgart. This location is future-proofed with equipment for servicing next-generation electric and hydrogen vehicles.
The company significantly increased production and deliveries in 2023, more than doubling both metrics and exceeding initial production targets.
The merger of Nippon Steel and US Steel, while promising financial gains for shareholders, has cast a shadow of uncertainty. Union workers at US Steel fear job security cuts and potential offshoring of production.
The company had been facing some challenges in addition to its positive developments. First, the broader economic climate with higher interest rates impacted their market performance.
Accelera announced a joint venture with Daimler Trucks and Buses, PACCAR, and EVE Energy. This collaboration aims to accelerate and localize battery production and the battery supply chain in the United States.
In the first quarter, the company secured approximately $400mn worth of project content, with more than half stemming from its growth programs. Three noteworthy deals were particularly highlighted in the area of energy transition.