About Automotive Industry
The Automotive Industry simply means the production, manufacturing and sales of vehicles. These vehicle are basically classified by their unique design, utility and purpose. The industry provide direct and indirect employment opportunities, contributing to a significant portion of total employment opportunity. It also represents a major private investor in research and development (R&D), driving technological advancements. The automotive industry has a multiplier effect on the economy, benefiting upstream industries like steel, chemicals, and textiles as well as downstream industries like information and communication technology, repair and mobility services.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
Automotive Industry is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Automotive Industry market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tesla (United States), Suzuki (Japan), Toyota (Japan), BMW (Germany), PSA (Japan), Ford (United States), Hyundai (China), General Motors (United States), SAIC (United States), Nissan (Japan), Mitsubishi (Japan), Tata Motors (India) and Volkswagen Group (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are BYD (China), Volvo (Sweden), Shanghai NIO (China), CITROEN (France) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Automotive Industry market by and Region.
On the basis of geography, the market of Automotive Industry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Propulsion Type, the sub-segment i.e. ICE Vehicle will boost the Automotive Industry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. -Passenger Car will boost the Automotive Industry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising investment of research and development.
Market Growth Drivers:
Increasing the use of automotive industry.
Challenges:
Fluctuation prices of raw materials. and Increase in air pollution.
Restraints:
Privacy issues and laws on the vehicle data protection.
Opportunities:
Emerging application in the automotive sector. and Growing demand for luxury vehicles.
Market Leaders and their expansionary development strategies
In June 2022, Renault Group acquired Fixter, a start-up specialising in the digitalisation of vehicle maintenance. This acquisition is a part of strategy to develop innovative digital tools for the independent aftermarket (IAM) in Europe, for both retail and professional customers.
In August 2023, Indian automakers new car launched to steer growth. The automobile industry saw 16 new launched in three months. New car launched included Maruti Suzuki Invicto, Maruti Suzuki Jimny, Mercedes, AMG SL55, Honda Elevate, and Audi Q8 E-tron. New launched are driving the growth in the industry.
Key Target Audience
Stakeholders, Raw Material Supplier, Regulatory Bodies, Research and Development 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.