Passenger Cars

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $5,600	291 Pages	Global Industry Analysts	July, 2024	GJOB18971929

Best Price Guarantee
Price	from $5,600
Length	291 Pages
Publisher	Global Industry Analysts
Published Date	July, 2024
SKU	GJOB18971929

Passenger Cars

Global Passenger Cars Market to Reach 65.0 Million Units by 2030

The global market for Passenger Cars estimated at 49.8 Million Units in the year 2023, is expected to reach 65.0 Million Units by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030.

The U.S. Market is Estimated at 13.5 Million Units While China is Forecast to Grow at 6.5% CAGR

The Passenger Cars market in the U.S. is estimated at 13.5 Million Units in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 13.3 Million Units by the year 2030 trailing a CAGR of 6.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Passenger Cars - Key Trends and Drivers

The passenger car market is undergoing significant transformations driven by changes in consumer preferences, technological advancements, and regulatory pressures. Innovations such as electric powertrains, autonomous driving capabilities, and enhanced connectivity options are reshaping the automotive industry, with electric vehicles (EVs) rapidly gaining traction due to environmental benefits and global emissions reduction efforts. The market is poised for growth influenced by technological advancements, regulatory changes, and shifts in consumer expectations, with trends like electrification, autonomous technology, and increased digital connectivity expected to dominate the industry`s development.

Changing consumer preferences, including a demand for technology integration and environmental impact considerations, are driving the automotive market`s evolution. There is a rise in shared and autonomous mobility solutions, with car-sharing and ride-sharing services gaining popularity, and autonomous driving technology advancing rapidly. Electrification is a dominant trend, with major automakers investing heavily in electric vehicle development, supported by the expansion of charging infrastructure and governmental incentives. Additionally, cars are becoming more connected and integrated into digital lifestyles, with features like advanced driver-assistance systems (ADAS) and fully digital dashboards enhancing the driving experience.

Alternative fuels such as e-fuels, synthesized from CO2 and renewable energy sources, are gaining attention alongside electrification efforts. Moreover, additive manufacturing or 3D printing is revolutionizing automotive production by enabling the creation of complex, lightweight vehicle parts quickly and cost-effectively. These trends reflect a broader shift towards sustainability, safety, and enhanced user experience in mobility solutions, with governments worldwide implementing stricter emissions regulations to combat climate change.

Select Competitors (Total 56 Featured) -

Adam Opel AG
American Honda Motor Co., Inc.
Audi AG
Bayerische Motoren Werke AG (BMW GROUP)
Beijing Automotive Group Co., Ltd.
Cadillac
Daihatsu Motor Co., Ltd.
Daimler AG
Dongfeng Motor Corporation
Dr. Ing. HCF Porsche AG
Ferrari SpA
General Motors Company
Haima Automobile International Corporation
Hindustan Motors Ltd.
Honda Motor Co., Ltd.
Hyundai Motor Company
Infiniti Motor Company Ltd.
Kia Motors Corporation
Mahindra & Mahindra Ltd.
Maruti Suzuki India Ltd.
Mazda Motor Corporation
Mitsubishi Motors Corporation
Nissan Motor Co., Ltd.
PSA Peugeot Citroen
Renault Group
Tata Motors Ltd.
Toyota Motor Corporation
Volkswagen AG
Volvo Car Corporation

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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW: Influencer Market Insights; Passenger Cars - Global Key Competitors Percentage Market Share in 2024 (E); Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E); Global Economic Update
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS: Rising Demand for Electric Vehicles Propels Growth in Passenger Car Market; Technological Advancements Drive Adoption of Autonomous Driving Features; Sustainability Trends Strengthen Business Case for Hybrid Passenger Cars; Increasing Urbanization Expands Addressable Market Opportunity for Compact Cars; Government Incentives for EVs: Here's How They Influence Market Dynamics; Innovations in Battery Technology Accelerate Demand for Long-Range Electric Cars; Growing Consumer Preference for SUVs Spurs Market Growth; Advancements in Connected Car Technology Drive Adoption of Smart Vehicles; Focus on Passenger Safety Throws the Spotlight on Advanced Driver Assistance Systems (ADAS); Expanding Ride-Sharing Services Generates Demand for Efficient Passenger Cars; Development of Fuel-Efficient Engines Strengthens Business Case for Eco-Friendly Cars; Focus on In-Car Entertainment Systems Drives Adoption of High-Tech Passenger Cars; Growing Popularity of Car Leasing and Subscription Models Impacts Market Dynamics; Rising Awareness of Car Safety Ratings Generates Demand for 5-Star Rated Vehicles; Integration of Artificial Intelligence in Vehicles Throws the Spotlight on Smart Mobility; Adoption of Lightweight Materials in Car Manufacturing Strengthens Business Case for Fuel Efficiency; Focus on Luxury and Comfort Generates Demand for High-End Passenger Cars
4. GLOBAL MARKET PERSPECTIVE: TABLE 1: World Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR; TABLE 2: World Historic Review for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; TABLE 3: World 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030; TABLE 4: World Passenger Cars Market Analysis of Annual Sales in Units for Years 2014 through 2030
III. MARKET ANALYSIS: UNITED STATES; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E); TABLE 5: USA Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 6: USA Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; CANADA; TABLE 7: Canada Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 8: Canada Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; JAPAN; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E); TABLE 9: Japan Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 10: Japan Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; CHINA; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E); TABLE 11: China Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 12: China Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; EUROPE; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E); TABLE 13: Europe Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR; TABLE 14: Europe Historic Review for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; TABLE 15: Europe 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2024 & 2030; FRANCE; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E); TABLE 16: France Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 17: France Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; GERMANY; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E); TABLE 18: Germany Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 19: Germany Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; ITALY; TABLE 20: Italy Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 21: Italy Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; UNITED KINGDOM; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E); TABLE 22: UK Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 23: UK Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; SPAIN; TABLE 24: Spain Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 25: Spain Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; RUSSIA; TABLE 26: Russia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 27: Russia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; REST OF EUROPE; TABLE 28: Rest of Europe Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 29: Rest of Europe Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; ASIA-PACIFIC; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E); TABLE 30: Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR; TABLE 31: Asia-Pacific Historic Review for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; TABLE 32: Asia-Pacific 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2024 & 2030; AUSTRALIA; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E); TABLE 33: Australia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 34: Australia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; INDIA; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E); TABLE 35: India Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 36: India Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; SOUTH KOREA; TABLE 37: South Korea Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 38: South Korea Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; REST OF ASIA-PACIFIC; TABLE 39: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 40: Rest of Asia-Pacific Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; LATIN AMERICA; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E); TABLE 41: Latin America Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR; TABLE 42: Latin America Historic Review for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; TABLE 43: Latin America 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2014, 2024 & 2030; ARGENTINA; TABLE 44: Argentina Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 45: Argentina Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; BRAZIL; TABLE 46: Brazil Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 47: Brazil Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; MEXICO; TABLE 48: Mexico Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 49: Mexico Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; REST OF LATIN AMERICA; TABLE 50: Rest of Latin America Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 51: Rest of Latin America Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; MIDDLE EAST; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E); TABLE 52: Middle East Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR; TABLE 53: Middle East Historic Review for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; TABLE 54: Middle East 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2014, 2024 & 2030; IRAN; TABLE 55: Iran Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 56: Iran Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; ISRAEL; TABLE 57: Israel Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 58: Israel Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; SAUDI ARABIA; TABLE 59: Saudi Arabia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 60: Saudi Arabia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; UNITED ARAB EMIRATES; TABLE 61: UAE Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 62: UAE Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; REST OF MIDDLE EAST; TABLE 63: Rest of Middle East Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 64: Rest of Middle East Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR; AFRICA; Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E); TABLE 65: Africa Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR; TABLE 66: Africa Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR
IV. COMPETITION