PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1301874
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1301874
Europe Passenger Car Market Assessment, By Vehicle Type, By Fuel Type, By Transmission Type, By Distribution Channel, By Region, Opportunities, and Forecast, 2016-2030F
The Europe Passenger Car market is experiencing robust growth and is projected to reach USD 537.46 billion by 2030 from USD 357.19 billion in 2022. The Europe passenger car is characterized by intense competition among key players, including Volkswagen Group, BMW Group, Daimler AG (Mercedes-Benz), and Stellantis (formed by the merger of PSA Group and FCA). Several market drivers have shaped the European passenger car market. Firstly, there is a growing emphasis on sustainability and environmental consciousness. Stricter emission regulations imposed by European Union (EU) standards have pushed car manufacturers to invest in electric and hybrid vehicles to reduce carbon footprints. This has led to the proliferation of electric vehicle (EV) models and the establishment of charging infrastructure across the continent.
Secondly, advancements in technology have significantly influenced the market. The development of autonomous driving technologies and advanced driver-assistance systems (ADAS) has improved safety features and enhanced the overall driving experience. Thirdly, changing consumer preferences and demands have played a crucial role in shaping the market. Consumers in Europe have shown a greater interest in smaller, more fuel-efficient vehicles, as well as a desire for enhanced comfort, convenience, and connectivity options. The demand for SUVs and crossovers has also been on the rise, reflecting the preference for versatile and spacious vehicles.
Moreover, factors such as urbanization, changing mobility patterns, and the rise of shared mobility services have impacted the passenger car market. Many European cities are implementing policies to reduce traffic congestion and promote sustainable transportation options, leading to increased adoption of car-sharing and ride-hailing services. For instance, in an effort to diversify its product portfolio and boost sales, Honda will be importing three newest SUVs in Europe from China. The three of them are: NY1, ZR-V and Sixth-generation CR-V.
Microcars: the Next Step in Micro Mobility
Microcars are emerging as the next step in micro-mobility for the Europe passenger car market. These compact vehicles, also known as quadricycles, are designed to address urban congestion and offer efficient transportation solutions. With their small size, they require less parking space, move easily through congested streets, and consume less energy. Microcars often have electric or hybrid powertrains, contributing to reduced emissions and environmental impact. They provide an affordable alternative to traditional passenger cars and can be ideal for short commutes or shared mobility services. Governments and city planners are recognizing their potential in reducing traffic congestion and improve air quality in urban areas. As awareness of sustainable mobility grows, microcars are poised to play a significant role in the future of micro-mobility in Europe, promoting efficient and eco-friendly transportation options. For instance, in 2022, Renault revealed a new electric quadricycle, the Renault Twizy electric fun mobile, which is anticipated to be launched in the coming years.
Increasing Popularity of Car Sharing and Ride-Hailing Services
Car-sharing and ride-hailing services are gaining immense popularity in Europe. These services, offered by companies like Uber, Lyft, provide convenient and cost-effective mobility solutions. They appeal to urban dwellers seeking alternatives to car ownership, especially among younger generations who prioritize flexibility and sustainability. Car-sharing platforms allow users to rent vehicles for short periods while ride-hailing services provide on-demand transportation with professional drivers. These services offer numerous benefits, including reduced congestion, lower carbon emissions, and cost savings. They also cater to the growing trend of digitalization, as users can easily book rides or vehicles through smartphone apps. For instance, in 2021, the Taxi app FREE NOW reported a 38% increase in bookings as the lockdown eased and looked to recruit 10,000 drivers to meet increased demand. Thus, with the convenience and flexibility, they offer, car-sharing and ride-hailing services are set to continue transforming the European passenger car market and shaping the future of urban mobility.
Technological Advancement
The European passenger car market has witnessed significant technological advancements in recent years, revolutionizing the driving experience. Electric vehicles (EVs) have gained substantial traction, with improved battery technologies enabling longer driving ranges and faster charging times. The infrastructure for EV charging has expanded across Europe, making it more convenient for drivers to adopt electric mobility. Moreover, autonomous driving technologies have made significant strides, enhancing safety and convenience on the roads. Advanced driver-assistance systems (ADAS) such as adaptive cruise control, lane-keeping assist, and automatic emergency braking have become commonplace, reducing the risk of accidents. Additionally, connected car technologies have flourished, allowing vehicles to communicate with each other and with external infrastructure, enabling features like real-time traffic updates, remote vehicle monitoring, and enhanced navigation systems. These technological advancements are driving the future of the European passenger car market, shaping a more sustainable, safe, and connected mobility ecosystem.
For instance, the Mercedes-Benz EQE is an all-electric luxury sedan, offering a sleek design and advanced electric technology. With a spacious interior, impressive range, and cutting-edge features, the EQE combines luxury and sustainability, showcasing Mercedes-Benz's commitment to electric mobility.
Government Regulation
Government regulations in the Europe passenger car market include stringent emissions standards, such as Euro 6 for pollutants and CO2 targets. Additionally, there are regulations on vehicle safety, including crash tests and safety features. Governments also provide incentives and subsidies for electric vehicles to promote sustainable mobility. Here are some of the regulations:
New Car Assessment Program (NCAP): The NCAP is a program that tests the safety of new passenger cars. The tests are conducted by independent organizations, and the results are published so that consumers can make informed decisions about which cars to buy.
Regulation on CO2 emissions from new passenger cars and light commercial vehicles: This regulation would set new CO2 emissions targets for new passenger cars and light commercial vehicles. The targets would be gradually tightened over time, with the goal of reaching zero emissions by 2035.
Impact of COVID-19
The pandemic had a significant impact on the Europe passenger car market. The outbreak led to strict lockdown measures, causing a sharp decline in consumer demand for new cars. Manufacturing plants and dealerships faced temporary closures, disrupting production and sales. Supply chain disruptions and global economic uncertainty also affected the market. As a result, car sales plummeted, leading to a substantial decrease in revenue for manufacturers and dealers. However, the pandemic also accelerated certain trends such as the shift towards online car purchases and increased interest in electric vehicles. The recovery of the Europe passenger car market largely depends on the control of the pandemic, economic stability, and consumer confidence.
Russia-Ukraine War
The Russia-Ukraine war had indirect but notable impacts on the Europe passenger car market. The conflict has created economic instability in the region, leading to uncertainty and cautious consumer sentiment. These factors affected consumer purchasing decisions, including car purchases. Additionally, disruption to supply chains or trade routes due to the conflict can led to delays or higher costs for car manufacturers, impacting production and availability of vehicles. Overall, the war's influence on the Europe passenger car market is primarily through its contribution to regional instability and economic uncertainties, which can dampen consumer demand and affect the industry's performance.
Key Players Landscape and Outlook
The companies have a strong market presence and continue to dominate the industry. The outlook for the European passenger car market is driven by the increasing demand for electric vehicles (EVs) and the implementation of stricter emission regulations. Key players are investing and collaborating actively in lieu of EV technology and expanding their EV model lineups to meet the growing consumer interest in sustainable mobility. Additionally, there is a focus on advanced driver-assistance systems (ADAS), autonomous driving technology, connected car features to enhance safety and roll out of EV charging infrastructure to facilitate faster adoption of EV vehicles across Europe. Major players are introducing their new car launched for coming years.
In March 2023, Volkswagen Group announced to capture 80% of the electric cars share in Europe and in line with this, the group will be launching 10 new electric models by 2026.
Table of Contents
1. Research Methodology
2. Project Scope & Definitions
3. Impact of Covid-19 on Europe Passenger Car Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
- 6.1. Brand Awareness and Loyalty
- 6.2. Factors Considered in Purchase Decision
- 6.3. Medium of Purchase
- 6.4. Frequency of Purchase
- 6.5. Understanding of Channel Retail
- 6.6. Recommendations and Suggestions
7. Europe Passenger Car Market Outlook, 2016-2030F
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.1.2. By Volume
- 7.2. By Vehicle Type
- 7.2.1. Hatchbacks
- 7.2.2. MUV's
- 7.2.3. Sedans
- 7.2.4. SUV's
- 7.3. By Fuel Type
- 7.3.1. Petrol
- 7.3.2. Diesel
- 7.3.3. Battery Electric (BEV)
- 7.3.4. Hybrid
- 7.3.4.1. Plug-in Hybrid (PHEV)
- 7.3.4.2. Hybrid Electric (HEV)
- 7.3.5. Others
- 7.4. By Transmission Type
- 7.4.1. Manual
- 7.4.2. Automatic
- 7.5. By Distribution Channel
- 7.5.1. Original Equipment Manufacturers (OEMs)
- 7.5.2. Dealers and Distributors
- 7.6. By Region
- 7.6.1. Germany
- 7.6.2. United Kingdom
- 7.6.3. France
- 7.6.4. Italy
- 7.6.5. Russia
- 7.6.6. Spain
- 7.6.7. Poland
- 7.6.8. Belgium
- 7.6.9. Netherlands
- 7.6.10. Rest of Europe
- 7.7. By Company Market Share (%), 2022
8. Market Mapping, 2022
- 8.1. By Vehicle Type
- 8.2. By Fuel Type
- 8.3. By Transmission Type
- 8.4. By Distribution Channel
- 8.5. By Region
9. Macro Environment and Industry Structure
- 9.1. Supply Demand Analysis
- 9.2. Import Export Analysis
- 9.3. Value Chain Analysis
- 9.4. PESTEL Analysis
- 9.4.1. Political Factors
- 9.4.2. Economic System
- 9.4.3. Social Implications
- 9.4.4. Technological Advancements
- 9.4.5. Environmental Impacts
- 9.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
- 9.5. Porter's Five Forces Analysis
- 9.5.1. Supplier Power
- 9.5.2. Buyer Power
- 9.5.3. Substitution Threat
- 9.5.4. Threat from New Entrant
- 9.5.5. Competitive Rivalry
10. Market Dynamics
- 10.1. Growth Drivers
- 10.2. Growth Inhibitors (Challenges and Restraints)
11. Key Players Landscape
- 11.1. Competition Matrix of Top Five Market Leaders
- 11.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
- 11.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
- 11.4. SWOT Analysis (For Five Market Players)
- 11.5. Patent Analysis (If Applicable)
12. Pricing Analysis
13. Case Studies
14. Key Players Outlook
- 14.1. Volkswagen AG
- 14.1.1. Company Details
- 14.1.2. Key Management Personnel
- 14.1.3. Products & Services
- 14.1.4. Financials (As reported)
- 14.1.5. Key Market Focus & Geographical Presence
- 14.1.6. Recent Developments
- 14.2. Stellantis N.V.
- 14.3. Renault S.A
- 14.4. Hyundai Motor Company
- 14.5. Bayerische Motoren Werke AG
- 14.6. Toyota Motor Europe
- 14.7. Daimler Motor Company Limited
- 14.8. Ford Motor Company Limited
- 14.9. Volvo Car Corporation.
- 14.10. Nissan Motor Co., Ltd.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
15. Strategic Recommendations
16. About Us & Disclaimer
List of Tables
- Table 1. Pricing Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. Europe Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 2. Europe Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 3. Europe Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 4. Europe Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 5. Europe Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 6. Europe Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 7. Europe Passenger Cars Market Share, By Region, In USD Billion, 2016-2030F
- Figure 8. Germany Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 9. Germany Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 10. Germany Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 11. Germany Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 12. Germany Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 13. Germany Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 14. United Kingdom Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 15. United Kingdom Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 16. United Kingdom Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 17. United Kingdom Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 18. United Kingdom Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 19. United Kingdom Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 20. France Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 21. France Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 22. France Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 23. France Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 24. France Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 25. France Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 26. Italy Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 27. Italy Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 28. Italy Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 29. Italy Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 30. Italy Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 31. Italy Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 32. Russia Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 33. Russia Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 34. Russia Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 35. Russia Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 36. Russia Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 37. Russia Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 38. Spain Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 39. Spain Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 40. Spain Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 41. Spain Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 42. Spain Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 43. Spain Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 44. Poland Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 45. Poland Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 46. Poland Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 47. Poland Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 48. Poland Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 49. Poland Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 50. Belgium Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 51. Belgium Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 52. Belgium Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 53. Belgium Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 54. Belgium Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 55. Belgium Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 56. Netherlands Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 57. Netherlands Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 58. Netherlands Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 59. Netherlands Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 60. Netherlands Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 61. Netherlands Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 62. Rest of Europe Passenger Cars Market, By Value, In USD Billion, 2016-2030F
- Figure 63. Rest of Europe Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 64. Rest of Europe Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
- Figure 65. Rest of Europe Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
- Figure 66. Rest of Europe Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
- Figure 67. Rest of Europe Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
- Figure 68. By Vehicle Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 69. By Fuel Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 70. By Transmission Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 71. By Distribution Channel Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 72. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022
