The motor vehicles market size has grown strongly in recent years. It will grow from $2,588.03 billion in 2023 to $2,801.93 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historical period can be attributed to economic conditions, technological advancements, consumer preferences, globalization, and international trade.
The motor vehicles market size is expected to see strong growth in the next few years. It will grow to $3,811.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to trends such as electrification, connectivity, shared mobility, and government policies. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
The motor vehicle market is expected to benefit from the projected stable economic growth in numerous developed and developing countries. The International Monetary Fund (IMF) has forecasted a global GDP growth rate of 3.3% in 2020 and 3.4% in 2021. Additionally, recovering commodity prices, following a significant decline in the previous period, are anticipated to further bolster market growth. Developed economies are poised for stable growth in the forecasted period, while emerging markets are expected to outpace developed ones. This stable economic growth is likely to lead to increased investments in end-user markets, thereby driving the motor vehicle market during the forecast period.
The main types in the motor vehicle market include motorcycles and bicycles, passenger cars, and commercial vehicles. Commercial vehicles are used for business purposes. Motor vehicles can use various fuel types like gasoline, diesel, or others, and they come with different engine capacities like 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. They can have various propulsion types, including internal combustion engines and electric vehicles.
The motor vehicle market research report is one of a series of new reports that provides motor vehicle market statistics, including motor vehicle industry global market size, regional shares, competitors with a motor vehicle market share, detailed motor vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Anticipated growth in vehicle production is set to drive the motor vehicle market in the coming years. Vehicle production entails the mass production of vehicles of the same type for sale to the public and legal operation on public roads. Increased automobile manufacturing often aligns with economic upturns, as stronger economies lead to greater consumer purchasing power, contributing to heightened vehicle demand. For example, in May 2023, as reported by the European Automobile Manufacturers Association, global motor vehicle production in 2022 reached 85.4 million units, marking a 5.7% increase compared to 2021. Thus, the growth in vehicle production is a significant driver of the motor vehicle market.
The outbreak of COVID-19 had a substantial adverse impact on the motor vehicle market in 2020. Supply chains were disrupted due to trade restrictions, and consumption declined because of lockdowns imposed by governments worldwide. COVID-19 is an infectious disease characterized by flu-like symptoms such as fever, cough, and respiratory difficulties, first identified in 2019 in Wuhan, Hubei province, China, and subsequently spreading globally. Transportation manufacturers rely on the global supply of parts and components, but many governments-imposed restrictions on the movement of goods between countries, leading to production halts due to parts shortages. Moreover, sales of new vehicles significantly declined as consumer demand waned during lockdowns. The repercussions of the pandemic continued into 2021, but recovery is expected in the motor vehicle market over the forecast period since this was an unforeseen event not related to inherent market weaknesses or global economic fundamentals.
In the motor vehicle industry, especially among car manufacturers, there is a growing focus on the commercialization of vehicles equipped with active window displays. These active window displays present essential driving information on the windshield, including navigation instructions, fuel levels, vehicle speed, and more. Some car manufacturers also offer technologies that can be mounted on the car's dashboard. For instance, in 2021, Huawei unveiled a groundbreaking innovation at the Munich International Automobile Expo in Germany - an augmented reality head-up display (AR HUD) technology that transforms a car's front windshield into an intelligent display.
Major companies operating in the motor vehicle market are emphasizing partnerships and collaborations, with Stellantis N.V.'s collaboration with Amazon.com, Inc. being a noteworthy example. Stellantis N.V. and Amazon.com, Inc. have formed a substantial partnership aimed at developing and operating more intelligent vehicles and environmentally-friendly vans. This collaboration encompasses software development, connected in-vehicle experiences, and training. In January 2022, Stellantis N.V., a Netherlands-based automotive manufacturer, joined forces with Amazon.com, Inc. to implement customer-centric integrated experiences in millions of vehicles, supporting Stellantis' transition towards a software-driven future. The partnership, which includes Amazon Devices, Amazon Web Services (AWS), and Amazon Last Mile, will expedite Stellantis' transformation into a sustainable mobility innovation company. Together, the two companies will create a portfolio of software-based products and services that seamlessly integrate into consumers' digital lives and provide long-term value through frequent over-the-air (OTA) software updates. Amazon.com, Inc. is a U.S.-based technology company offering automotive software solutions.
Major companies operating in the motor vehicles market include Volkswagen AG, Toyoto Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co. Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co. Ltd., EXOR Group, Bayerische Motoren Werke AG, Hyundai Motor Co. Ltd., General Motors Company, Nissan Motor Co. Ltd., Fiat Chrysler Automobiles N.V., Renault-Nissan-Mitsubishi Alliance, Bayerische Motoren Werke AG, Zhejiang Geely Holding Group Co. Ltd., Tata Motors Limited, Suzuki Motor Corporation, Mazda Motor Corporation, Subaru Corporation, Dongfeng Motor Corporation, Groupe PSA, Mitsubishi Motors Corporation, Chang'an Automobile Co. Ltd., Great Wall Motor Co. Ltd., Mahindra & Mahindra Limited, BYD Auto Co. Ltd., Brilliance Auto Group, JAC Motors, Zotye Auto Co. Ltd., FAW Group Corporation, Beijing Automotive Group Co. Ltd., Chery Automobile Co. Ltd.
Asia-Pacific was the largest region in the motor vehicles market in 2023. North America was the second largest market in motor vehicles market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the motor vehicles market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The motor vehicle market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The motor vehicles market size is expected to see strong growth in the next few years. It will grow to $3,811.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to trends such as electrification, connectivity, shared mobility, and government policies. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
The motor vehicle market is expected to benefit from the projected stable economic growth in numerous developed and developing countries. The International Monetary Fund (IMF) has forecasted a global GDP growth rate of 3.3% in 2020 and 3.4% in 2021. Additionally, recovering commodity prices, following a significant decline in the previous period, are anticipated to further bolster market growth. Developed economies are poised for stable growth in the forecasted period, while emerging markets are expected to outpace developed ones. This stable economic growth is likely to lead to increased investments in end-user markets, thereby driving the motor vehicle market during the forecast period.
The main types in the motor vehicle market include motorcycles and bicycles, passenger cars, and commercial vehicles. Commercial vehicles are used for business purposes. Motor vehicles can use various fuel types like gasoline, diesel, or others, and they come with different engine capacities like 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. They can have various propulsion types, including internal combustion engines and electric vehicles.
The motor vehicle market research report is one of a series of new reports that provides motor vehicle market statistics, including motor vehicle industry global market size, regional shares, competitors with a motor vehicle market share, detailed motor vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Anticipated growth in vehicle production is set to drive the motor vehicle market in the coming years. Vehicle production entails the mass production of vehicles of the same type for sale to the public and legal operation on public roads. Increased automobile manufacturing often aligns with economic upturns, as stronger economies lead to greater consumer purchasing power, contributing to heightened vehicle demand. For example, in May 2023, as reported by the European Automobile Manufacturers Association, global motor vehicle production in 2022 reached 85.4 million units, marking a 5.7% increase compared to 2021. Thus, the growth in vehicle production is a significant driver of the motor vehicle market.
The outbreak of COVID-19 had a substantial adverse impact on the motor vehicle market in 2020. Supply chains were disrupted due to trade restrictions, and consumption declined because of lockdowns imposed by governments worldwide. COVID-19 is an infectious disease characterized by flu-like symptoms such as fever, cough, and respiratory difficulties, first identified in 2019 in Wuhan, Hubei province, China, and subsequently spreading globally. Transportation manufacturers rely on the global supply of parts and components, but many governments-imposed restrictions on the movement of goods between countries, leading to production halts due to parts shortages. Moreover, sales of new vehicles significantly declined as consumer demand waned during lockdowns. The repercussions of the pandemic continued into 2021, but recovery is expected in the motor vehicle market over the forecast period since this was an unforeseen event not related to inherent market weaknesses or global economic fundamentals.
In the motor vehicle industry, especially among car manufacturers, there is a growing focus on the commercialization of vehicles equipped with active window displays. These active window displays present essential driving information on the windshield, including navigation instructions, fuel levels, vehicle speed, and more. Some car manufacturers also offer technologies that can be mounted on the car's dashboard. For instance, in 2021, Huawei unveiled a groundbreaking innovation at the Munich International Automobile Expo in Germany - an augmented reality head-up display (AR HUD) technology that transforms a car's front windshield into an intelligent display.
Major companies operating in the motor vehicle market are emphasizing partnerships and collaborations, with Stellantis N.V.'s collaboration with Amazon.com, Inc. being a noteworthy example. Stellantis N.V. and Amazon.com, Inc. have formed a substantial partnership aimed at developing and operating more intelligent vehicles and environmentally-friendly vans. This collaboration encompasses software development, connected in-vehicle experiences, and training. In January 2022, Stellantis N.V., a Netherlands-based automotive manufacturer, joined forces with Amazon.com, Inc. to implement customer-centric integrated experiences in millions of vehicles, supporting Stellantis' transition towards a software-driven future. The partnership, which includes Amazon Devices, Amazon Web Services (AWS), and Amazon Last Mile, will expedite Stellantis' transformation into a sustainable mobility innovation company. Together, the two companies will create a portfolio of software-based products and services that seamlessly integrate into consumers' digital lives and provide long-term value through frequent over-the-air (OTA) software updates. Amazon.com, Inc. is a U.S.-based technology company offering automotive software solutions.
Major companies operating in the motor vehicles market include Volkswagen AG, Toyoto Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co. Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co. Ltd., EXOR Group, Bayerische Motoren Werke AG, Hyundai Motor Co. Ltd., General Motors Company, Nissan Motor Co. Ltd., Fiat Chrysler Automobiles N.V., Renault-Nissan-Mitsubishi Alliance, Bayerische Motoren Werke AG, Zhejiang Geely Holding Group Co. Ltd., Tata Motors Limited, Suzuki Motor Corporation, Mazda Motor Corporation, Subaru Corporation, Dongfeng Motor Corporation, Groupe PSA, Mitsubishi Motors Corporation, Chang'an Automobile Co. Ltd., Great Wall Motor Co. Ltd., Mahindra & Mahindra Limited, BYD Auto Co. Ltd., Brilliance Auto Group, JAC Motors, Zotye Auto Co. Ltd., FAW Group Corporation, Beijing Automotive Group Co. Ltd., Chery Automobile Co. Ltd.
Asia-Pacific was the largest region in the motor vehicles market in 2023. North America was the second largest market in motor vehicles market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the motor vehicles market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The motor vehicle market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Motor Vehicles Market Characteristics4. Motor Vehicles Market Trends And Strategies68. Global Motor Vehicles Market Competitive Benchmarking69. Global Motor Vehicles Market Competitive Dashboard70. Key Mergers And Acquisitions In The Motor Vehicles Market
3. Motor Vehicles Product/Service Analysis -Product/Service Examples
5. Motor Vehicles Market - Macro Economic Scenario
6. Global Motor Vehicles Market Size and Growth
7. Motor Vehicles Market Segmentation
8. Motor Vehicles Market Regional And Country Analysis
9. Asia-Pacific Motor Vehicles Market
10. China Motor Vehicles Market
11. India Motor Vehicles Market
12. Japan Motor Vehicles Market
13. Australia Motor Vehicles Market
14. Indonesia Motor Vehicles Market
15. South Korea Motor Vehicles Market
16. Bangladesh Motor Vehicles Market
17. Thailand Motor Vehicles Market
18. Vietnam Motor Vehicles Market
19. Malaysia Motor Vehicles Market
20. Singapore Motor Vehicles Market
21. Philippines Motor Vehicles Market
22. Hong kong Motor Vehicles Market
23. New Zealand Motor Vehicles Market
24. Western Europe Motor Vehicles Market
25. UK Motor Vehicles Market
26. Germany Motor Vehicles Market
27. France Motor Vehicles Market
28. Italy Motor Vehicles Market
29. Spain Motor Vehicles Market
30. Austria Motor Vehicles Market
31. Belgium Motor Vehicles Market
32. Denmark Motor Vehicles Market
33. Finland Motor Vehicles Market
34. Ireland Motor Vehicles Market
35. Netherlands Motor Vehicles Market
36. Norway Motor Vehicles Market
37. Portugal Motor Vehicles Market
38. Sweden Motor Vehicles Market
39. Switzerland Motor Vehicles Market
40. Eastern Europe Motor Vehicles Market
41. Russia Motor Vehicles Market
42. Czech Republic Motor Vehicles Market
43. Poland Motor Vehicles Market
44. Romania Motor Vehicles Market
45. Ukraine Motor Vehicles Market
46. North America Motor Vehicles Market
47. USA Motor Vehicles Market
48. Canada Motor Vehicles Market
49. Mexico Motor Vehicles Market
50. South America Motor Vehicles Market
51. Brazil Motor Vehicles Market
52. Chile Motor Vehicles Market
53. Argentina Motor Vehicles Market
54. Colombia Motor Vehicles Market
55. Peru Motor Vehicles Market
56. Middle East Motor Vehicles Market
57. Saudi Arabia Motor Vehicles Market
58. Israel Motor Vehicles Market
59. Iran Motor Vehicles Market
60. Turkey Motor Vehicles Market
61. United Arab Emirates Motor Vehicles Market
62. Africa Motor Vehicles Market
63. Egypt Motor Vehicles Market
64. Nigeria Motor Vehicles Market
65. South Africa Motor Vehicles Market
66. Motor Vehicles Market Competitive Landscape And Company Profiles
71. Motor Vehicles Market Future Outlook and Potential Analysis
72. Appendix
Executive Summary
Motor Vehicles Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on motor vehicles market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for motor vehicles? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Type: Motorcycle And Bicycle; Passenger Car; Commercial Vehicle; 2) By Fuel Type: Gasoline; Diesel; Other Fuel Types; 3) By Engine Capacity: < 1000 cc; < 1000-1500 cc; < 1500-2000 cc; >2000 cc
- Subsegments Covered: Motorcycles And Parts; Bicycles And Parts; Motor Scooters; Other Motorcycle And Bicycle; Hatchback; Sedan; Utility Vehicle; Light Commercial Vehicle; Heavy Trucks; Buses And Coaches
- Companies Mentioned: Volkswagen AG; Toyota Motor Corp; Daimler AG; Ford Motor Co; Honda Motor Co. Ltd.
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Volkswagen AG
- Toyoto Motor Corp
- Daimler AG
- Ford Motor Co
- Honda Motor Co. Ltd.
- Fiat Chrysler Automobiles NV
- SAIC Motor Co. Ltd.
- EXOR Group
- Bayerische Motoren Werke AG
- Hyundai Motor Co. Ltd.
- General Motors Company
- Nissan Motor Co. Ltd.
- Fiat Chrysler Automobiles N.V.
- Renault-Nissan-Mitsubishi Alliance
- Bayerische Motoren Werke AG
- Zhejiang Geely Holding Group Co. Ltd.
- Tata Motors Limited
- Suzuki Motor Corporation
- Mazda Motor Corporation
- Subaru Corporation
- Dongfeng Motor Corporation
- Groupe PSA
- Mitsubishi Motors Corporation
- Chang'an Automobile Co. Ltd.
- Great Wall Motor Co. Ltd.
- Mahindra & Mahindra Limited
- BYD Auto Co. Ltd.
- Brilliance Auto Group
- JAC Motors
- Zotye Auto Co. Ltd.
- FAW Group Corporation
- Beijing Automotive Group Co. Ltd.
- Chery Automobile Co. Ltd.
Methodology
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