How Big is the Transportation Equipment Market | Insights, Forecast & Growth Analysis 2025

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Code: MTA9432

Publication Date: Sep 2025

How Big is the Transportation Equipment Market?

According to 6Wresearch internal database and industry insights, the Transportation Equipment Market was estimated at USD 120 billion in 2024 and is projected to reach USD 210 billion by 2031, expanding at a CAGR of 8.2% during the forecast period 2025-2031.

The rise of electric vehicles, the growing need for sophisticated transportation solutions, improvements in manufacturing techniques, and encouraging government policies that promote the use of sustainable transportation technologies are some of the factors driving the growth.

Key Growth Drivers of the Transportation Equipment Market

Growing demand for electric and hybrid cars
Large-scale investments in electric vehicle infrastructure
Increasing demand for fuel-efficient and ecologically friendly modes of transportation
Advancements in lightweight materials and vehicle design technology
Government regulations that promote eco-friendly transportation

Transportation Equipment Market Trends

The Transportation Equipment Market is set to grow, driven by major trends like the widespread adoption of electric and hybrid vehicles, which continue to reshape the automotive sector. Developments in lightweight materials, like carbon composites, are improving vehicle efficiency and performance.

The need for air mobility solutions like drones and urban air vehicles is another indication of a change toward more modern forms of transportation. As more eco-friendly modes of transportation become available, industry leaders are focusing on reducing emissions through advancements in engine technologies.

Emerging Developments in the Transportation Equipment Market

The Transportation Equipment Market is evolving with significant advancements in electric and autonomous vehicle technologies. High-performance battery systems and energy-efficient propulsion technologies are being developed to extend the range and lower the cost of electric vehicles.

The advancements in AI and machine learning are enhancing vehicle automation, which enabling better safety features. The market is continuing to grow as a result of the creation of smart cities and the extension of infrastructure for electric vehicle charging. Furthermore, our perspective on future transportation is changing as a result of a greater emphasis on urban air mobility solutions, such as electric vertical take-off and landing aircraft.