The Global Passenger Car Market Report by The Business Research Company covers passenger car market drivers and restraints, passenger car market size, major players, and the impact of COVID-19 on the passenger car market.
The passenger car market consists of sales of passenger cars or passenger car chassis and related services by entities (organizations, sole traders and partnerships) that produce complete automobiles (with body and chassis) or produce automobile chassis only. The passenger car market is segmented into hatchback, sedan and utility vehicle.
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.
The global passenger car market is expected to grow from $1321.74 billion in 2020 to $1445.1 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1988.72 billion in 2025 at a CAGR of 8%.
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Some passenger car market trends include automobile manufacturers 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.
Global passenger car market segments include:
1) By Type: Hatchback, Sedan, Utility Vehicle.
2) By Fuel Type: Gasoline, Diesel, Others.
3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc.
4) By Propulsion Type: IC Engine, Electric Vehicle.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest global passenger car market share.
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The Passenger Car Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides passenger car market overviews, analyzes and forecasts market size, share, passenger car market players, passenger car market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The passenger car market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Passenger Car Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Volkswagen, Toyota, General Motors, Renault-Nissan, Hyundai-Kia.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Passenger Car Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Passenger Car Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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