1 / 6

Future of Automotive Industry worth 104 million units by 2030 _ MarketsandMarkets

Future of Automotive Industry worth 104 million units by 2030 _ MarketsandMarkets

Shubham121
Download Presentation

Future of Automotive Industry worth 104 million units by 2030 _ MarketsandMarkets

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Future of Automotive Industry worth 104 million units by 2030 | MarketsandMarkets NEWS PROVIDED BY MarketsandMarkets Jun 27, 2024, 13:15 ET  CHICAGO, June 27, 2024 /PRNewswire/ -- Automotive Industry, encompassing PV, LCV, and MHCV, size is projected to grow from 88 million units in 2024 and is projected to hit 104 million units by 2030, at a CAGR of 2.4%, according to a new report by MarketsandMarkets. The growth of the automotive industry is in?uenced by various factors such as adoption of electric vehicles, development and manufacturing of long-range batteries along with installation of fast and ultra-fast charging points, introduction of autonomous vehicles, deployment of 5G connectivity and trends related to shared mobility.  MarketsandMarkets Logo Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp? id=142125279 Future Of Automotive Industry Scope:

  2. Report Coverage Details Market Revenue in 88 million units 2024 Estimated Value by 104 million units 2030 Growth Rate Poised to grow at a CAGR of 2.4% Market Size 2020–2030 Available for Forecast Period 2024-2030 Forecast Units Value (Units) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Covers Original Equipment Manufacturer (OEM) Landscape, Connected Vehicles, Autonomous Driving Technologies, Electric Segments Covered Vehicles (Evs), Innovations In Battery Technology, Powertrains And Shared Mobility Geographies Asia Pacific, Europe, Row and North America Covered Report Highlights Updated financial information / product portfolio of players Key Market Growing adoption of connected vehicles Opportunities Key Market Drivers Consistent growth in the EV segment over traditional ICE vehicles Autonomous vehicles are anticipated to witness signi?cant growth. The introduction of autonomous cars with enhanced safety features and higher level of automation is shifting the trends in the automotive market. Numerous OEMs are introducing Level 2 (L2) and Level 3 (L3) autonomous vehicles, including Nissan (Japan), Honda (Japan), Audi (Germany), BMW (Germany), and Mercedes-Benz (Germany). OEMs such as BMW and Mercedes have received approval for L3 autonomous vehicles in Germany and the US, respectively. BMW has also received approval to test its L3 vehicles in Shanghai, China. We expect L3 vehicle sales to gain pace in 2024 as these OEMs start rolling out their L3 models. In addition to testing the cars on roads several tech giants and OEMs have adopted acquisition strategies to take over smaller companies that operate in the space of developing driverless or autonomous technology. The number of Level 3 (L3) autonomous vehicles is projected to grow at a CAGR of 86.5% between 2023 and 2030. The Level 4 (L4) autonomous vehicle market is expected to experience limited commercial growth, primarily in select markets. Asia Paci?c is expected to be the largest market during the forecast period. Asia-Paci?c region hold the major share in the sales volume of PV and CV combined. The major factor for this is the intensive manufacturing and export of cars in China. The Chinese market is the world's largest market in terms of vehicle sales as well as production. In 2023, China's sales volume for passenger vehicles was over 25 million units, with a share of around 50% globally. China is the most dominant nation in automotive industry with respect to supplying raw materials, manufacturing as well

  3. as its sales. China has the most powerful supply chain of EV batteries. Over 50% of the EV batteries are manufactured in China. Moreover, around 75% of the components of EV batteries are manufactured in China. These Chinese manufacturers are looking to expand their services and acquire additional market share around the world. The Asia region has seen growth in automobile production in 2022 and 2023. Continuing this trend, the Asia region will dominate the market during the forecast period. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp? id=142125279  Future Of Automotive Industry Dynamics: Drivers: ?. Consistent growth in the EV segment over traditional ICE vehicles Restraints: ?. Highly dependent on the global economic factors Opportunities: ?. Growing adoption of connected vehicles Challenge: ?. Short range of EVs and charging time Key Market Players Future of Automotive Industry: Prominent players in the Future of Automotive Industry include Toyota Motors Corporation (Japan), Tesla (USA), Volkswagen AG (Germany), Ford (USA), BYD (China), Hyundai Motor Corporation (South Korea). Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=142125279 

  4. Future of Automotive Industry Recent Developments: In June 2024, Honda started the of production of its new 2025 Honda CR-V e:FCEV fuel cell electric vehicle (FCEV) at the Performance Manufacturing Center (PMC) in Ohio, US. In May 2024, BYD launched the e-Platform 3.0 Evo, an upgraded version of its BEV model platform and Sea Lion 07 EV SUV will be the ?rst model based on this model. In May 2024, Exicom, a leading EV charger and power solution provider in India launched a Harmony Gen 1.5 DC fast charger. Future of Automotive Industry Size - Key Bene?ts of Buying the Report: The report will help the market leaders/new entrants in this market with information on the technologies that are predicted to drive the automotive industry in future. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. This report provides insights on: Analysis of key Trends in 2023 till 2030 (Electri?cation, Rise of 5G, Connected Cars, Smart Manufacturing etc). Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive market. Market Development: Comprehensive information about lucrative markets – the report analyses the automotive market across varied regions. Market Diversi?cation: Exhaustive information about diversi?cation of supply chains, untapped geographies, recent developments, and investments in the automotive market. Competitive Assessment: Assessment of market shares, growth strategies and service o?erings of leading players like across passenger and commercial vehicle segments which are then dirther divided into ICE and electric among others in the automotive market strategies. The report also helps stakeholders understand the pulse of the autonomous vehicle market and provides them information on key market drivers, challenges, and opportunities. Related Reports:

  5. Global Automotive Industry Outlook, 2024 Autonomous / Self-Driving Cars Market - Global Forecast to 2030 Connected Car Market - Global Forecast to 2030 Electric Vehicle Market - Global Forecast 2030 Get access to the latest updates on Automotive Companies and Automotive Industry Growth ™ About MarketsandMarkets : ™ MarketsandMarkets has been recognized as one of America's best management consulting ?rms by Forbes, as per their recent report. ™ MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine o?ering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us pro?cient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting ?rms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to- Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. ™

  6. To ?nd out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/ Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg SOURCE MarketsandMarkets

More Related