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Automotive Industry Market Growth

Automotive Industry Market Growth

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Automotive Industry Market Growth

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  1. Summary Global Automotive Industry Market Growth, Research Report, Information Segmentation by Vehicle Type (Passenger Cars, Commercial Vehicle), and Region – Global Report Forecast till 2024 Overview The automotive industry has witnessed a significant uptick in production and sales in recent years mainly owing to an increased demand in emerging markets. At the same time, disruptive technologies are opening new avenue for the industry, which the focus steady shifting towards segments such as autonomous vehicles, electric vehicles and hybrid vehicles. Market Research Future (MRFR) projects that the global automotive industry will expand at a compound annual growth rate (CAGR) of 2.78% during the projection period (2018-2024). In terms of volume, the industry is expected to reach 1,13,366 thousand units by 2024 up from 96,804 thousand units in 2017. Get Free Sample @ https://www.marketresearchfuture.com/sample_request/7683 Segmentation Based on the vehicle type, key industry segments are commercial vehicle and passenger car. The later currently accounts for the leading share in terms of revenue. The passenger car segment is expected to maintain its leading position throughout the assessment period. Some of the forces driving the growth of the passenger car segment include increased purchasing power, stricter government regulation, and population growth. The segment is expected to be influenced by the increased concerned over emission levels. A data released by the International Organization of Motor Vehicle Manufacturers (OICA) revealed that in from 2010 to 2017 there was 26.95% increase on the over sales on passenger cars. Macroeconomic factors such as growth the middle-class population, increased disposable income, are improving standard of living are also providing tailwinds to the passenger car segment. Vehicle manufacturers striving to make their product more efficient and environment friendly. Fuel-economy and vehicular population are among the key area of focus. The focus is shifting towards developing future-ready automotive solutions. Competition Analysis Automotive Industry Market Growth – Market Leaders are, Volkswagen AG (Germany), Toyota Motor Corporation (Japan), Ford Motor Company (US), Hyundai Motor Company (South Korea), Honda Motor Corporation (Japan), General Motors (US), Daimler AG (Germany), Nissan Motor Corporation (Japan), SAIC Motor Corporation Limited (China), and Fiat Chrysler Automobiles (US) are among the leading companies operating in the global automotive industry. Regional

  2. On the basis of region, the global automotive industry has been segmented into Asia-Pacific (APAC), Europe, North America and the Rest of the World (RoW). The automotive sector has witnessed unprecedented growth in APAC in recent years. The region has a become the go- to destination for car manufacturers. In APAC, countries such as China, Japan, South Korea, and India are making significant contribution to the industry. China especially has been a standout performer. During the forecast period, China’s dominance in automotive manufacturing is likely to remain unchallenged despite the emergence of new low-cost alternatives. Major American, European and Japanese car makers have set up manufacturing facilities in China owing the cost-benefits and availability of raw materials. After APAC, North America and Europe are the other two key destinations for the stakeholders. Get Full Report @ https://www.marketresearchfuture.com/reports/automotive-industry- 7683 About Market Research Future At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. Contact Market Research Future Office No. 528, Amanora Chambers Pune – 411028 Maharashtra, India Phone: +1646 845 9312 Email: sales@marketresearchfuture.com

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