Global Passenger Car Market 2024-2028
The passenger car market is forecasted to grow by USD 873.26 billion during 2023-2028, accelerating at a CAGR of 7.96% during the forecast period. The report on the passenger car market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing popularity of EVs, rise of ridesharing platforms, and increasing incorporation of electronics in passenger cars.
Technavio's passenger car market is segmented as below:
By Type
By Fuel Type
- ICE Vehicles
- Hybrid
- Electric
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the growing use of 3D printing in passenger cars as one of the prime reasons driving the passenger car market growth during the next few years. Also, increasing advancements in development of autonomous passenger cars and growing collaboration between automakers and tech companies will lead to sizable demand in the market.
The report on the passenger car market covers the following areas:
- Passenger car market sizing
- Passenger car market forecast
- Passenger car market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading passenger car market vendors that include Aston Martin Lagonda Ltd., BMW AG, BYD Co. Ltd., Ford Motor Co., Geely Auto International Corp., General Motors Co., Great Wall Motor Co. Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Mahindra and Mahindra Ltd., Mazda Motor Corp., Mercedes Benz Group AG, Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Suzuki Motor Corp., Tata Motors Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG. Also, the passenger car market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.