Global Automotive Industry Market, Research Report, Information Segmentation by Vehicle Type (Passenger Cars, Commercial Vehicle), and Region – Global Report Forecast till 2024
There are many factors contributing to the growth of the Global Automotive Industry. Among the most prominent aspects, superior level of road facilities, advancing standard of living, and better technicalities, contribute the most towards this market. It is expected for the Global Automotive Industry to grow at a significant rate of CAGR of 2.78%. This feat is expected to be achieved during the forecast period of 2024. During that time, In comparison to 2017, the market is expected to be many times higher by the end of forecasted year of 2024.
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With encouraging scenarios from an investment perspective, the automotive industry is expected to be the most sensational in forthcoming years. Interestingly, both the passenger segment and commercial vehicle segments are expected to witness the same level of growth. Irrespective of the size of the vehicle, there is some level of application that is certainly there. Enhanced state of roadways can also be claimed as among the prime reasons behind the encouraging prospects. Moreover, the trend is expected to remain intact during the forthcoming years.
Global Automotive Industry is getting highly significant due to the improved technologies for maintenance. Technologically, the segmented has become convenient for people of all economic levels. The level of investment has helped in keeping the budget aspects thoroughly under control. This has helped in grabbing a greater customer base from all segments of the market. It makes the market noteworthy in both the developed and developing nations. Best part, the market scenario is expected to remain intact during the forecasted year and beyond.
Automotive Industry Analysis – Market Leaders are, Volkswagen AG (Germany), Toyota Motor Corporation (Japan), Ford Motor Company (US), Hyundai Motor Company (South Korea), Honda Motor Corporation (Japan), General Motors (US), Daimler AG (Germany), Nissan Motor Corporation (Japan), SAIC Motor Corporation Limited (China), and Fiat Chrysler Automobiles (US) are among the leading companies operating in the global automotive industry.
The Global Automotive Industry Market can be segmented on the basis of vehicle type. In this context, the automotive industry is segmented into passenger cars and commercial vehicles. The market can be segmented on the basis of region as well. In this context, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Both North America and Asia Pacific are said to be the leading markets in this segment. United States and Canada are among the prominent nations contributing the most towards establishing the market in North America. India and China are the major contributors in Asian market.
On the basis of region, the global automotive industry is divided into North America, Europe, Asia-Pacific (APAC), and the Rest-of-the-World (RoW). Asia-Pacific is the most prominent player as it seems during forecasted year. India and China are the major contributors in Asian market. There is an incredibly significant prospect in North American market, led by the US mostly. Japan and South Korea are equally prominent automotive markets as well. Middle East and African market look equally promising in the Global Automotive Industry market. All in all, both developing and developed nations show great scope in this market domain.
Jewish Life News publishes a report about global automotive industry. It addresses the core factors contributing the most towards the growth of the industry. The report analyses the factors having a major impact on the customers, thus influencing the market. It identifies the domains where the market is expected to remain the most significant.
Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 List Of Assumptions 19
2.4 Market Structure 19
2.5 Macro Factor Indicator Analyses 20
3 Research Methodology
3.1 Research Process 22
3.2 Primary Research 23
3.3 Secondary Research 24
3.4 Market Size Estimation 25
3.5 Forecast Model 25
4 Market Dynamics
4.1 Introduction 27
4.2 Drivers 28
4.2.1 Rise In New Vehicle Sales 28
4.2.2 Increasing Investment In Research And Development 28
4.2.3 Rapid Growth Of The Component Aftermarket 29
4.3 Drivers Impact Analysis 30
4.4 Restraints 30
4.4.1 High Costs Of Vehicle And Component Manufacturing 30
4.4.2 Increasing Complexities Within Vehicles 31
4.5 Restraint Impact Analysis 31
4.6 Opportunities 32
4.6.1 Increasing Sale Of Electric Vehicles 32
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