The Global Motor Vehicles Market size is expected to grow at a CAGR of 4.87 % during the period 2021-2028 and reach an estimated value of USD 5,840.1 billion by 2028 from USD 3,450.2 billion in 2016. The growth is attributed to factors such as increasing consumer spending on automotive products & services and increasing sales of new cars in emerging economies like China and India which will lead to increased demand for replacement parts over the forecast period.
On the basis of Types, the market is segmented into Cars, Trucks, Buses & Motorcycles. The Car segment is expected to have the largest market size in 2017 and show healthy growth during the forecast period due to increased demand for new cars with improved safety features along with higher fuel efficiency globally.
On the basis of Application, the market is segmented into Commercial and Household. Households where it comprises of Passenger cars which are mainly driven by private individuals as well as Commercial vehicles that include commercial passenger vehicles such as buses or trucks used for transporting goods from one place to another including light-duty cargo vans. The growing number of people purchasing a personal luxury car has led to an increase in household sales leading up to 2028.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is expected to account for the largest share in the global market owing to its economic stability and presence of key players. The Asia Pacific region is likely to show exponential growth during the forecast period, due to a number of initiatives taken by governments across various countries such as China, Japan, and India.
The key driving factors for the growth of this market are the increasing demand for vehicles, especially in emerging markets. In the next eight years, demand is expected to grow significantly due to factors such as a growing population and urbanization of developing economies. A large number of young people will form the major proportion of this market by 2028. The rise of income levels also contributes to customer’s purchasing power which further fuels the growth rate in this market segment.
Up Market Research published a new report titled “Motor Vehicles Market research report which is segmented by Types (Cars, Buses, Trucks, Motorcycles), By Applications (Household, Commercial), By Players/Companies Toyota, Volkswagen Group, Daimler, Ford, General Motors, Honda, Fiat Chrysler Automobiles, BMW, Nissan, Hyundai, PSA, Renault, Suzuki, Geely”.
Report Attributes | Report Details |
Report Title | Motor Vehicles Market Research Report |
By Type | Cars, Buses, Trucks, Motorcycles |
By Application | Household, Commercial |
By Companies | Toyota, Volkswagen Group, Daimler, Ford, General Motors, Honda, Fiat Chrysler Automobiles, BMW, Nissan, Hyundai, PSA, Renault, Suzuki, Geely |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 237 |
Number of Tables & Figures | 166 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Cars, Buses, Trucks, Motorcycles and By Application Household, Commercial.
Some of the companies that are profiled in this report are:
Motor Vehicles Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Motor Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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