Passenger Cars Market Size, Competitors & Forecast to 2030

The global market for Passenger Cars was sized at 51.9 Million Units in 2024 and is projected to reach 65 Million Units by 2030, growing at a CAGR of 3.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Passenger Cars - Key Trends and Drivers

The passenger car market is undergoing significant transformations driven by changes in consumer preferences, technological advancements, and regulatory pressures. Innovations such as electric powertrains, autonomous driving capabilities, and enhanced connectivity options are reshaping the automotive industry, with electric vehicles (EVs) rapidly gaining traction due to environmental benefits and global emissions reduction efforts. The market is poised for growth influenced by technological advancements, regulatory changes, and shifts in consumer expectations, with trends like electrification, autonomous technology, and increased digital connectivity expected to dominate the industry's development.

Changing consumer preferences, including a demand for technology integration and environmental impact considerations, are driving the automotive market's evolution. There is a rise in shared and autonomous mobility solutions, with car-sharing and ride-sharing services gaining popularity, and autonomous driving technology advancing rapidly. Electrification is a dominant trend, with major automakers investing heavily in electric vehicle development, supported by the expansion of charging infrastructure and governmental incentives. Additionally, cars are becoming more connected and integrated into digital lifestyles, with features like advanced driver-assistance systems (ADAS) and fully digital dashboards enhancing the driving experience.

Alternative fuels such as e-fuels, synthesized from CO2 and renewable energy sources, are gaining attention alongside electrification efforts. Moreover, additive manufacturing or 3D printing is revolutionizing automotive production by enabling the creation of complex, lightweight vehicle parts quickly and cost-effectively. These trends reflect a broader shift towards sustainability, safety, and enhanced user experience in mobility solutions, with governments worldwide implementing stricter emissions regulations to combat climate change.

Report Scope

The report analyzes the Passenger Cars market, presented in terms of market value (USD). The analysis covers the key segments and geographic regions outlined below.

Segments

Segment (Passenger Cars).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Regional Analysis:

Gain insights into the U.S. market, valued at 13.9 Million Units in 2024, and China, forecasted to grow at an impressive 6.4% CAGR to reach 13.3 Million Units by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

Detailed Market Analysis: Access a thorough analysis of the Global Passenger Cars Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Passenger Cars Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

How is the Global Passenger Cars Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of players such as Adam Opel AG, American Honda Motor Co., Inc., Audi AG, Bayerische Motoren Werke AG (BMW GROUP), Beijing Automotive Group Co., Ltd. and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 56 companies featured in this Passenger Cars market report include:

Adam Opel AG
American Honda Motor Co., Inc.
Audi AG
Bayerische Motoren Werke AG (BMW GROUP)
Beijing Automotive Group Co., Ltd.
Cadillac
Daihatsu Motor Co., Ltd.
Daimler AG
Dongfeng Motor Corporation
Dr. Ing. HCF Porsche AG
Ferrari SpA
General Motors Company
Haima Automobile International Corporation
Hindustan Motors Ltd.
Honda Motor Co., Ltd.
Hyundai Motor Company
Infiniti Motor Company Ltd.
Kia Motors Corporation
Mahindra & Mahindra Ltd.
Maruti Suzuki India Ltd.
Mazda Motor Corporation
Mitsubishi Motors Corporation
Nissan Motor Co., Ltd.
PSA Peugeot Citroen
Renault Group
Tata Motors Ltd.
Toyota Motor Corporation
Volkswagen AG
Volvo Car Corporation

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
Passenger Cars - Global Key Competitors Percentage Market Share in 2025 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
Global Economic Update

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Rising Demand for Electric Vehicles Propels Growth in Passenger Car Market
Technological Advancements Drive Adoption of Autonomous Driving Features
Sustainability Trends Strengthen Business Case for Hybrid Passenger Cars
Increasing Urbanization Expands Addressable Market Opportunity for Compact Cars
Government Incentives for EVs: Here’s How They Influence Market Dynamics
Innovations in Battery Technology Accelerate Demand for Long-Range Electric Cars
Growing Consumer Preference for SUVs Spurs Market Growth
Advancements in Connected Car Technology Drive Adoption of Smart Vehicles
Focus on Passenger Safety Throws the Spotlight on Advanced Driver Assistance Systems (ADAS)
Expanding Ride-Sharing Services Generates Demand for Efficient Passenger Cars
Development of Fuel-Efficient Engines Strengthens Business Case for Eco-Friendly Cars
Focus on In-Car Entertainment Systems Drives Adoption of High-Tech Passenger Cars
Growing Popularity of Car Leasing and Subscription Models Impacts Market Dynamics
Rising Awareness of Car Safety Ratings Generates Demand for 5-Star Rated Vehicles
Integration of Artificial Intelligence in Vehicles Throws the Spotlight on Smart Mobility
Adoption of Lightweight Materials in Car Manufacturing Strengthens Business Case for Fuel Efficiency
Focus on Luxury and Comfort Generates Demand for High-End Passenger Cars

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2024 through 2030 and % CAGR
Table 2: World Historic Review for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR
Table 3: World 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2015, 2025 & 2030
Table 4: World Passenger Cars Market Analysis of Annual Sales in Units for Years 2015 through 2030

III. MARKET ANALYSIS

UNITED STATES

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2025 (E)
Table 5: USA Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 6: USA Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

CANADA

Table 7: Canada Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 8: Canada Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

JAPAN

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2025 (E)
Table 9: Japan Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 10: Japan Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

CHINA

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2025 (E)
Table 11: China Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 12: China Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

EUROPE

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2025 (E)
Table 13: Europe Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2024 through 2030 and % CAGR
Table 14: Europe Historic Review for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR
Table 15: Europe 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2015, 2025 & 2030

FRANCE

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2025 (E)
Table 16: France Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 17: France Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

GERMANY

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2025 (E)
Table 18: Germany Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 19: Germany Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

ITALY

Table 20: Italy Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 21: Italy Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

UNITED KINGDOM

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2025 (E)
Table 22: UK Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 23: UK Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

SPAIN

Table 24: Spain Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 25: Spain Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

RUSSIA

Table 26: Russia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 27: Russia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

REST OF EUROPE

Table 28: Rest of Europe Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 29: Rest of Europe Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

ASIA-PACIFIC

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2025 (E)
Table 30: Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2024 through 2030 and % CAGR
Table 31: Asia-Pacific Historic Review for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR
Table 32: Asia-Pacific 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2015, 2025 & 2030

AUSTRALIA

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2025 (E)
Table 33: Australia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 34: Australia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

INDIA

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2025 (E)
Table 35: India Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 36: India Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

SOUTH KOREA

Table 37: South Korea Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 38: South Korea Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

REST OF ASIA-PACIFIC

Table 39: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 40: Rest of Asia-Pacific Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

LATIN AMERICA

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2025 (E)
Table 41: Latin America Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2024 through 2030 and % CAGR
Table 42: Latin America Historic Review for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR
Table 43: Latin America 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2015, 2025 & 2030

ARGENTINA

Table 44: Argentina Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 45: Argentina Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

BRAZIL

Table 46: Brazil Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 47: Brazil Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

MEXICO

Table 48: Mexico Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 49: Mexico Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

REST OF LATIN AMERICA

Table 50: Rest of Latin America Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 51: Rest of Latin America Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

MIDDLE EAST

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2025 (E)
Table 52: Middle East Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2024 through 2030 and % CAGR
Table 53: Middle East Historic Review for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR
Table 54: Middle East 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2015, 2025 & 2030

IRAN

Table 55: Iran Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 56: Iran Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

ISRAEL

Table 57: Israel Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 58: Israel Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

SAUDI ARABIA

Table 59: Saudi Arabia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 60: Saudi Arabia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

UNITED ARAB EMIRATES

Table 61: UAE Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 62: UAE Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

REST OF MIDDLE EAST

Table 63: Rest of Middle East Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 64: Rest of Middle East Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

AFRICA

Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2025 (E)
Table 65: Africa Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2024 through 2030 and % CAGR
Table 66: Africa Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2015 through 2023 and % CAGR

IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

Adam Opel AG
American Honda Motor Co., Inc.
Audi AG
Bayerische Motoren Werke AG (BMW GROUP)
Beijing Automotive Group Co., Ltd.
Cadillac
Daihatsu Motor Co., Ltd.
Daimler AG
Dongfeng Motor Corporation
Dr. Ing. HCF Porsche AG
Ferrari SpA
General Motors Company
Haima Automobile International Corporation
Hindustan Motors Ltd.
Honda Motor Co., Ltd.
Hyundai Motor Company
Infiniti Motor Company Ltd.
Kia Motors Corporation
Mahindra & Mahindra Ltd.
Maruti Suzuki India Ltd.
Mazda Motor Corporation
Mitsubishi Motors Corporation
Nissan Motor Co., Ltd.
PSA Peugeot Citroen
Renault Group
Tata Motors Ltd.
Toyota Motor Corporation
Volkswagen AG
Volvo Car Corporation

Table Information

Report Attribute	Details
No. of Pages	291
Published	February 2025
Forecast Period	2024 - 2030
Estimated Market Value in 2024	51.9 Million Units
Forecasted Market Value by 2030	65 Million Units
Compound Annual Growth Rate	3.8%
Regions Covered	Global

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Passenger Cars - Global Strategic Business Report

Passenger Cars - Key Trends and Drivers

Report Scope

Segments

Geographic Regions/Countries

Regional Analysis:

Why You Should Buy This Report:

Key Questions Answered:

Report Features:

Some of the 56 companies featured in this Passenger Cars market report include:

Table of Contents

Companies Mentioned (Partial List)

Table Information

Passenger Cars - Key Trends and Drivers

Report Scope

Segments

Geographic Regions/Countries

Regional Analysis:

Why You Should Buy This Report:

Key Questions Answered:

Report Features:

Some of the 56 companies featured in this Passenger Cars market report include:

Table of Contents

Companies Mentioned (Partial List)

Table Information

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About the Passenger Car Market