Passenger cars are the vehicles that have minimum four wheels and are widely used to carry passengers from one place to another. Additionally, the government authorities are suggesting the passenger car manufacturers to develop efficient and low-emission vehicles. This has pressurized respective automobile manufacturers to engage in research and development work. Passenger cars market is anticipated to grow remarkably during the forecast period all over the world.
MARKET SCOPE
The "Global Passenger Car Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the passenger car market with detailed market segmentation by vehicle type, fuel type and geography. The report provides key statistics on the market status of the leading passenger car market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on vehicle type, the global passenger car market is segmented into Hatchback, Sedan and SUV and MUV.
- On the basis of fuel type, the market is segmented into Petrol, Diesel and CNG.
MARKET DYNAMICS
Drivers:
- Rising demand in developing countries.
- Rising urbanization and increasing per capita disposable income to boost market growth of passenger cars.
- Growing popularity of electric vehicle all over the world.
Restraints:
- Lack of vehicle financing facilities in few countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The passenger car market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the passenger car market in these regions.
IMPACT OF COVID-19 ON PASSENGER CAR MARKET
The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. Owing to salary cuts or job losses, buying capacity of the consumer was reduced. This pandemic restricted movement of people from one place to another. Restrictions of limited workforce at production site also affected the market from supply side. All the mentioned factors have impacted the passenger car market negatively.
MARKET PLAYERS
The report covers key developments in the passenger car market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from passenger car market are anticipated to lucrative growth opportunities in the future with the rising demand for passenger car in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the passenger car market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BMW AG
- Daimler
- Dongfeng
- FAW group
- Fiat Chrysler Automobiles N.V.
- Ford Motor Company
- General Motors
- SAIC
- Toyota Motor Corporation
- Volkswagen Group