PUBLISHER: The Business Research Company | PRODUCT CODE: 1260950
PUBLISHER: The Business Research Company | PRODUCT CODE: 1260950
“Passenger Car Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on passenger car market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for passenger car? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The passenger car market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major companies in the passenger car market include Toyota Motor Corp, Volkswagen AG, Honda Motor Co Ltd., Ford Motor Co, Fiat Chrysler Automobiles NV, Hyundai Motor Co Ltd., EXOR Group, Nissan Motor Co Ltd., Daimler AG, and SAIC Motor Co ltd.
The global passenger car market grew from $1506.73 billion in 2022 to $1657.79 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger car market is expected to grow to $2372.13 billion in 2027 at a CAGR of 9.4%.
The passenger car market consists of sales of pickup trucks, compact cars, and minivans. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A passenger car is a road motor vehicle that is used to transport people and has a maximum seating capacity of nine people (including the driver).
Asia-Pacific was the largest region in the passenger car market in 2022. Western Europe was the second-largest region in the passenger car market. The regions covered in the passenger car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types in the passenger car market include hatchbacks, sedans, and utility vehicles. A hatchback is referred to as a car that is configured with a swing to provide access to a cargo area. The various fuel types include gasoline, diesel, and others. The various engine capacities are 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. The various propulsion types include IC engines and electric vehicles.
Additive manufacturing is continuously evolving, and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification, and functional parts used in test vehicles and engines. Automobile manufacturers are also using 3D printing to build a variety of tools, jigs, and fixtures used in assembly and manufacturing processes. 3D printing helps in rapid prototyping, increases assembly-line efficiency, lowers turnaround time, improves flexibility in design, and reduces wastage of materials.
The countries covered in the passenger car market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The passenger car market research report is one of a series of new reports from The Business Research Company that provides passenger car market statistics, including passenger car industry global market size, regional shares, competitors with a passenger car market share, detailed passenger car market segments, market trends and opportunities, and any further data you may need to thrive in the passenger car industry. This passenger car market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.