The Global Passenger Cars Market is projected to register a

Hyderabad, March 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Global Passenger Cars Market”-2023-2028, is expected to grow at a CAGR of 2.90%. Globally, China has witnessed the largest share in passenger car sales. The growing disposable income of consumers and changing lifestyles are increasing the demand for passenger cars in China. Strong build, ability to drive in all terrains, bold looks, and strong engines are some of the factors making SUVs the largest sub-body type in the global passenger car market.

Stringent norms and governmental make BEV the fastest-growing segment globally in the passenger car market subsidies, and continued encouragement of BEV adoption among private auto owners are making BEV the fastest-growing segment in the passenger car market globally. 

 Passenger Cars Market Analysis - What is contributing to the growth of the Global Passenger Cars Market? 

  • An increase in the demand for clean energy in the automotive industry is one of the major factors contributing to the market's growth. OEMs are also redefining their roadmap for electric vehicles. For instance, in March 2022, Kia Motors announced that it would enter the electric pickup truck market, announcing that two models would be available by 2027. In March 2022, Ford announced that it would offer a new generation of four electric commercial vehicles by 2024. 
  • E-commerce companies have significant opportunities to explore the retail e-commerce market due to high internet and smartphone penetration in the North American region. It also helps e-commerce companies in expanding their business through broader reach. This is an important factor in the growth of the electric vehicle market in the world. The above trend has propelled automakers to increase their expenditure on the R&D of trucks, which has boosted the market growth of electric vehicles. These factors are expected to help market growth over the forecast period.

Some of the major market trends shaping the Passenger Cars Market according to Mordor Intelligence research experts: 

  • In 2021, approximately 56.4 million passenger cars were sold worldwide, representing a nearly 5% increase over the previous year. 
  • China had the largest regional automobile market in 2021, with slightly less than 21.5 million units. 
  • Automotive technology is expected to undergo significant change in the next ten years. 
  • Around 26% of new automobile sales globally are expected to be of electric vehicles by 2030, with an estimated 58 million new self-driving cars to be added to the global fleet by 2022. 
  • As a result of technological advancements, the types of components required to create the finished product have begun to change. 
  • This allows for further segmentation of the automotive supplier market, particularly the automotive electronics market. 
  • Automation and electrification are expected to boost the car market in the near future. 

The Global Passenger Cars Market is projected to register a CAGR of -2.90%:

  • Largest Segment by Fuel Type - Gasoline: Gasoline has the highest growth among all fuel types across the globe. The easy availability of traditional fuel and the affordable price of gasoline engines provide an edge over other fuel options.
  • Largest Segment by Country - Germany: Globally, China has witnessed the largest share in passenger car sales. The growing disposable income of consumers and changing lifestyles are increasing the demand for passenger cars in China.
  • Largest Segment by Sub-Body Type - Sports Utility Vehicle: Strong build, ability to drive in all terrains, and bold looks, strong engines are some of the factors making SUVs the largest sub-body type in the global passenger car market.
  • Fastest-growing Segment by Fuel Type - FCEV: Stringent norms, governmental subsidies, and continued encouragement of BEV adoption among private auto owners which is making BEV the fastest-growing segment in the passenger car market globally.

Who are the key players in Global Passenger Cars Market?  

The Global Passenger Cars Market is fragmented, with the top five companies occupying 37.30%. The major players in this market are: 

  • Ford Motor Company 
  • Hyundai Motor Company 
  • Nissan Motor Company Ltd 
  • Toyota Motor Corporation 
  • Volkswagen AG 
  • BMW AG 
  • Kia corporation 
  • Mercedes Group 
  • Honda Motor Co. Ltd 

Recent Developments in the Global Passenger Cars Market: 

  • July 2022: Honda will relocate the transmission assembly to Santa Catarina, Brazil, in order to increase its operational flexibility, efficacy, and competitiveness. 
  • July 2022: Honda will relocate the transmission assembly to Santa Catarina, Brazil, in order to increase its operational flexibility, efficacy, and competitiveness. 
  • July 2022: BMW has confirmed that the brand-new X1 and 3 Series will be produced in Brazil. To prepare the Araquari facility for the new models, the business will employ a portion of the BRL 500 million investment planned in November 2021. 

In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/global-passenger-cars-market

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.  

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.  

Some of the trending industry reports you may be interested in:  

  • https://www.mordorintelligence.com/industry-reports/india-passenger-car-market-outlook 
  • https://www.mordorintelligence.com/industry-reports/global-electric-cars-market 
  • https://www.mordorintelligence.com/industry-reports/south-america-passenger-cars-market 

 

Attachment

  • Global Passenger Cars Market_Mordor Intelligence

The Global Passenger Cars Market is projected to register a

TIN LIÊN QUAN

Chillers Market Expected to Hit US$ 4.8 Billion by 2026

Chicago, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global chillers Market is projected to grow from USD 4.1 billion in 2021 to USD 4.8 billion by 2026, at a...

Global Pulmonary Embolism Market Size - Forecasts to 2028

The paramount competitors covered in the global pulmonary embolism market report include Abbott, F. Hoffmann-La Roche Ltd., Mylan N.V., Teva...

Particleboard Market Expected to Grow at 5.2% CAGR Till

NEW YORK, March 10, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has released its latest report on the global wooden particle board...

Global Somatic Cancer Mutation Testing Market Size

Thermo Fisher Scientific, Inc., Illumina, Inc., Invitae Corporation, F. Hoffmann-La Roche Ltd., MedGenome, CENTOGENE N.V., Myriad Genetics, Inc., eviCore...

Global Intelligent Battery Sensor Market - Forecasts to

The key players covered in the global intelligent battery sensor market report are AMS AG, Continental AG, Denso Corporation, EDN Network, HELLA GmbH & Co....

Personal Floatation Devices Market

The paramount competitors covered in the global personal floatation devices market report include United Moulders Limited, Absolute Outdoor Inc., Marine...

North America Commercial Nuclear Power Market Size

BWX Technologies Inc., Doosan Heavy Industries & Construction Co. Ltd, Mitsubishi, Heavy Industries Ltd, GE-Hitachi Nuclear Energy Inc., Westinghouse...

Lubricants Market Estimated to Reach $187.9 Billion by 2027

Chicago, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The global lubricants market size is projected to reach USD 187.9 billion by 2027 from USD 164.8 billion in...

THỦ THUẬT HAY

Xem tin nhắn đã thu hồi như nào, hãy xem những cách sau nhé !

Bạn vừa nhận được thông báo 'tin nhắn đã được thu hồi'. Bạn rất muốn biết đối phương đã nhắn gì cho mình. Hãy tham khảo ngay cách xem tin nhắn đã thu hồi ở Zalo trên điện thoại đơn giản dưới đây nhé.

Cách tạo video “Hoàng hậu nương nương” cực hot trên Facebook

Trào lưu “Hoàng hậu nương nương phán xử” mới đây được cư dân mạng Facebook truyền tay nhau với tốc độ chóng mặt. Để làm được trào lưu hát nhép theo nhạc này, chúng ta cần cài đặt ứng dụng Tik Tok.

Nhiều nơi tại Việt Nam đã có thể sử dụng mạng 4G

4G đang là tâm điểm thảo luận trong cộng đồng khi mà nhiều nơi tại Việt Nam, người dùng smartphone đã thấy sự xuất hiện của biểu tượng sóng 4G trên chiếc điện thoại của mình.

Tối ưu hóa các thao tác trên iPhone chưa bao giờ đơn giản như thế

Hôm trước mình đã giới thiệu với các bạn một cách giúp tối ưu hoá mọi thao tác trên iPhone trở nên nhanh chóng và tiện lợi hơn. Hôm nay, mình tiếp tục chia sẻ với các bạn một ứng dụng khác còn tốt hơn cả cách cũ...

Xem lại phim Gạo nếp gạo tẻ, Cả một đời ân oán trên máy tính và điện thoại

Nhưng nhiều người không thể theo dõi được bộ phim trong khung giờ chiếu trực tiếp của đài truyền hình, vậy nên TCN đã làm một bài hướng dẫn dưới đây để bạn có thể xem bộ phim hấp dẫn này.

ĐÁNH GIÁ NHANH

Ford Mustang 2017 sang trọng, hiện đại và thể thao

Được giới thiệu với nhiều biến thể và sở hữu quá trình tồn tại dài tới 52 năm, Ford Mustang 2017 hoàn toàn dễ dàng chiếm được sự quan tâm từ phía khách hàng. Sức hấp dẫn của “chiếc xe cơ bắp” tăng...

Trên tay OPPO A55: Smartphone giá chưa đến 5 triệu đồng đẹp ngất ngây lại chống nước, pin trâu, camera khủng 50MP

OPPO A55 đã chính thức ra mắt tại Việt Nam với giá bán 4,99 triệu đồng. Máy được trang bị những thông số ấn tượng và vượt trội so với các đối thủ cùng phân khúc giá. Ngay bây giờ hãy cùng mình trên tay OPPO A55 và khám

Trên tay iPad 9: Thiết kế có phần lỗi thời tuy nhiên vẫn sẽ được nhiều người săn đón

Mới đây, Aple đã chính thức ra mắt mẫu iPad 9 mới. Sản phẩm có thiết kế “lỗi thời” song dự kiến vẫn sẽ được nhiều người dùng săn đón. Hãy cùng chúng tôi trên tay iPad 9 để khám phá những tính năng thú vị của sản phẩm.