Globally, today consumers use all-purpose vehicles, whether they are commuting alone to work or taking the whole family to the beach. The industry's principal categories include EV, HEV, PHEV, MHEV, NGV, FCEV, Diesel and Petrol. The MHEVs represent a technological leap in the automotive market - vehicles solely based on a combustion engine. From today's viewpoint, combustion engine-based powertrains will remain dominant, at least for the coming decade.
Furthermore, MHEVs are also bringing higher efficiency and lower running costs to combustion engines and could therefore provide promising opportunities for OEMs, suppliers, and customers until electric powertrains become ubiquitous. Also, consumers' new habit of using tailored solutions for each purpose will lead to specialized vehicles designed for particular necessities. For instance, the market for a car mainly built for e-hailing services - that is, a car designed for high utilization, robustness, additional mileage, and passenger comfort - would already be millions of units today, and this is just the beginning. As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030.
The report has covered the regional analysis for the Americas, Asia Pacific & Oceania, Europe and Middle East & Africa. The Asia Pacific is the largest market due to the growing demand for passenger cars and fuel-efficient vehicles. The developments in engine technology are progressing significantly, accompanying the rising emission standards across the globe. These factors are notable patrons to the incremental growth of the automotive market in the region. Moreover, the rising adoption of MHEVs in the Asia Pacific is expected to drive automotive production. In Asia Pacific countries, winning government incentives to simplify electro mobility and increased investments by automakers are expected to drive the market.
For instance, some of the recent initiatives taken by the Government of India are:
In Union Budget 2021-22, the government introduced the voluntary vehicle scrappage policy, expected to advance the market for new vehicles after lifting old unfit vehicles currently plying on the Indian roads.
In February 2021, the Delhi government started setting up 100 vehicle battery charging spots across the state to expedite the adoption of electric vehicles.
The global automotive market is dominated by major players such as Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company. These companies offer an extensive variety of automotive, fulfilling all significant functions in a vehicle. The key strategies adopted by these companies to sustain their market position are new product developments, acquisitions, and partnerships & expansions. As per this research report, Worldwide Automotive Market was valued at 85.32 Million Units in 2020.
Coronavirus devastating effect on Global Automotive Market:
The coronavirus (COVID-19) pandemic has induced a decade of expansion in the global automotive industry to an abrupt standstill, with sales plummeting in most markets. As a result, there have been more job cuts beyond the sector, with plants and suppliers shutting down in countries where the markets are slowest to recover.
After a disastrous 2020 for the global automotive sector, an upturn is expected in 2021, but carmakers worldwide will demand to seek out growth pockets while pushing through extensive cost-cutting programmes. The rivalry among the US and China will continue in 2021. Sanctions and investment restrictions may even force third-party countries to choose between the two rivals.
The publisher's latest report titled “Automotive Market, Global Forecast By Americas (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Asia Pacific & Oceania (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Europe (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Middle East & Africa (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Company (Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company)"" provides a detailed analysis of Global Automotive Market.
Global Automotive Market has been covered from 4 viewpoints:
1. Americas
2. Asia Pacific & Oceania
3. Europe
4. Middle East & Africa
Americas - Global Automotive Volume has been covered from 8 viewpoints:
1. Electric Vehicle
2. Hybrid Electric Vehicle
3. Plug-in Hybrid Electric Vehicle
4. Mild Hybrid Vehicle
5. Natural Gas Vehicle
6. Fuel Cell Electric Vehicle
7. Diesel Vehicle
8. Petrol Vehicle
Asia Pacific & Oceania - Global Automotive Volume has been covered from 8 viewpoints:
1. Electric Vehicle
2. Hybrid Electric Vehicle
3. Plug-in Hybrid Electric Vehicle
4. Mild Hybrid Vehicle
5. Natural Gas Vehicle
6. Fuel Cell Electric Vehicle
7. Diesel Vehicle
8. Petrol Vehicle
Europe - Global Automotive Volume has been covered from 8 viewpoints:
1. Electric Vehicle
2. Hybrid Electric Vehicle
3. Plug-in Hybrid Electric Vehicle
4. Mild Hybrid Vehicle
5. Natural Gas Vehicle
6. Fuel Cell Electric Vehicle
7. Diesel Vehicle
8. Petrol Vehicle
Middle East & Africa - Global Automotive Volume has been covered from 8 viewpoints:
1. Electric Vehicle
2. Hybrid Electric Vehicle
3. Plug-in Hybrid Electric Vehicle
4. Mild Hybrid Vehicle
5. Natural Gas Vehicle
6. Fuel Cell Electric Vehicle
7. Diesel Vehicle
8. Petrol Vehicle
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Company Analysis:
1. Volkswagen
2. Toyota Motor Corporation
3. Daimler AG
4. Ford Motor Company
5. Honda Motor Company
Table of Contents
Companies Mentioned
- Volkswagen
- Toyota Motor Corporation
- Daimler AG
- Ford Motor Company
- Honda Motor Company
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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