About Family Car
A family car is described as a vehicle that can transport multiple passengers and perform functions common to family life, such as running errands and dropping the kids off at soccer practise or taking a road trip. Vehicles with two or three rows of seats, SUVs, waggons, and minivans all fall under this category. Almost every American, European, and Japanese automaker produces a family vehicle. A smaller 4-door or waggon might suffice if you have a family of three or four. A 4-door sedan provides easy access to the 2nd row for a car seat or travel bag, while a waggon allows you to slip bulkier things in without taking up room in the main cabin. The market for Family car has increased all over the world. With globalization there are various companies which provide top notch cars across the world.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.9% |
The market is fragmented with various global players present in the market. The global players are trying to capture various markets and are continuously working on product innovation and also using various Strategic techniques. Various global companies are also focusing on the Electric cars. Analyst at AMA Research estimates that Germany Vendors will contribute the maximum growth to Global Family Car market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toyota (Japan), Volkswagen (Germany), Daimler AG (Germany), Honda Motors (Japan), Chevrolet (United States), BMW (Germany), Audi (Germany), Ford Motor (United States), TATA Motors (India), Nissan Motor (Japan), Kia (South Korea) and Maruti Suzuki (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Family Car market by Type (Minivan, Sedan, SUV and Hatchback) and Region.
On the basis of geography, the market of Family Car has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico). If we see Market by Seating Capacity, the sub-segment i.e. Upto 5 will boost the Family Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Engine Capacity, the sub-segment i.e. Less than 1000cc will boost the Family Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Transmission Type, the sub-segment i.e. Manual will boost the Family Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel Type, the sub-segment i.e. Diesel will boost the Family Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Trend of Road Trips
Market Growth Drivers:
Increasing Urbanization and Rising Standard of Living, Gradual Shift from Transportation to Comfortable/Convenient Transportation, And From Convenient Transportation to Luxurious and Safe Transportation and Improved Fuel Economy and Reduced Exhaust Emissions
Challenges:
High Competition Among Players
Restraints:
High Cost of Car
Opportunities:
Increasing Demand for Electric Vehicles in Developed Regions
Market Leaders and their expansionary development strategies
In November 2023, Ford unveiled a high-performance version of their popular Mustang Mach-E electric SUV, boasting increased power and handling capabilities. This expansion caters to performance-oriented family car buyers.
In October 2023, Toyota launched its first dedicated electric SUV, the bZ4X, marking a significant step in its electric vehicle strategy. The bZ4X offers a competitive range and features, targeting a growing segment of the family car market.
Key Target Audience
Automobiles Manufacturers, Suppliers of Automobiles, Automobiles Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.