Passenger Car Market Insights and Growth by 2031
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 2031" 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 2021 to 2031 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.
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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 2021 to 2031 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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Passenger Car Market - By Vehicle Type
1.3.2 Passenger Car Market - By Fuel Type
1.3.3 Passenger Car Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PASSENGER CAR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. PASSENGER CAR MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. PASSENGER CAR MARKET - GLOBAL MARKET ANALYSIS
6.1. PASSENGER CAR - GLOBAL MARKET OVERVIEW
6.2. PASSENGER CAR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PASSENGER CAR MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. HATCHBACK
7.3.1. Overview
7.3.2. Hatchback Market Forecast and Analysis
7.4. SEDAN
7.4.1. Overview
7.4.2. Sedan Market Forecast and Analysis
7.5. SUV AND MUV
7.5.1. Overview
7.5.2. SUV and MUV Market Forecast and Analysis
8. PASSENGER CAR MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
8.1. OVERVIEW
8.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3. PETROL
8.3.1. Overview
8.3.2. Petrol Market Forecast and Analysis
8.4. DIESEL
8.4.1. Overview
8.4.2. Diesel Market Forecast and Analysis
8.5. CNG
8.5.1. Overview
8.5.2. CNG Market Forecast and Analysis
9. PASSENGER CAR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Passenger Car Market Overview
9.1.2 North America Passenger Car Market Forecasts and Analysis
9.1.3 North America Passenger Car Market Forecasts and Analysis - By Vehicle Type
9.1.4 North America Passenger Car Market Forecasts and Analysis - By Fuel Type
9.1.5 North America Passenger Car Market Forecasts and Analysis - By Countries
9.1.5.1 United States Passenger Car Market
9.1.5.1.1 United States Passenger Car Market by Vehicle Type
9.1.5.1.2 United States Passenger Car Market by Fuel Type
9.1.5.2 Canada Passenger Car Market
9.1.5.2.1 Canada Passenger Car Market by Vehicle Type
9.1.5.2.2 Canada Passenger Car Market by Fuel Type
9.1.5.3 Mexico Passenger Car Market
9.1.5.3.1 Mexico Passenger Car Market by Vehicle Type
9.1.5.3.2 Mexico Passenger Car Market by Fuel Type
9.2. EUROPE
9.2.1 Europe Passenger Car Market Overview
9.2.2 Europe Passenger Car Market Forecasts and Analysis
9.2.3 Europe Passenger Car Market Forecasts and Analysis - By Vehicle Type
9.2.4 Europe Passenger Car Market Forecasts and Analysis - By Fuel Type
9.2.5 Europe Passenger Car Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Passenger Car Market
9.2.5.1.1 Germany Passenger Car Market by Vehicle Type
9.2.5.1.2 Germany Passenger Car Market by Fuel Type
9.2.5.2 France Passenger Car Market
9.2.5.2.1 France Passenger Car Market by Vehicle Type
9.2.5.2.2 France Passenger Car Market by Fuel Type
9.2.5.3 Italy Passenger Car Market
9.2.5.3.1 Italy Passenger Car Market by Vehicle Type
9.2.5.3.2 Italy Passenger Car Market by Fuel Type
9.2.5.4 United Kingdom Passenger Car Market
9.2.5.4.1 United Kingdom Passenger Car Market by Vehicle Type
9.2.5.4.2 United Kingdom Passenger Car Market by Fuel Type
9.2.5.5 Russia Passenger Car Market
9.2.5.5.1 Russia Passenger Car Market by Vehicle Type
9.2.5.5.2 Russia Passenger Car Market by Fuel Type
9.2.5.6 Rest of Europe Passenger Car Market
9.2.5.6.1 Rest of Europe Passenger Car Market by Vehicle Type
9.2.5.6.2 Rest of Europe Passenger Car Market by Fuel Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Passenger Car Market Overview
9.3.2 Asia-Pacific Passenger Car Market Forecasts and Analysis
9.3.3 Asia-Pacific Passenger Car Market Forecasts and Analysis - By Vehicle Type
9.3.4 Asia-Pacific Passenger Car Market Forecasts and Analysis - By Fuel Type
9.3.5 Asia-Pacific Passenger Car Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Passenger Car Market
9.3.5.1.1 Australia Passenger Car Market by Vehicle Type
9.3.5.1.2 Australia Passenger Car Market by Fuel Type
9.3.5.2 China Passenger Car Market
9.3.5.2.1 China Passenger Car Market by Vehicle Type
9.3.5.2.2 China Passenger Car Market by Fuel Type
9.3.5.3 India Passenger Car Market
9.3.5.3.1 India Passenger Car Market by Vehicle Type
9.3.5.3.2 India Passenger Car Market by Fuel Type
9.3.5.4 Japan Passenger Car Market
9.3.5.4.1 Japan Passenger Car Market by Vehicle Type
9.3.5.4.2 Japan Passenger Car Market by Fuel Type
9.3.5.5 South Korea Passenger Car Market
9.3.5.5.1 South Korea Passenger Car Market by Vehicle Type
9.3.5.5.2 South Korea Passenger Car Market by Fuel Type
9.3.5.6 Rest of Asia-Pacific Passenger Car Market
9.3.5.6.1 Rest of Asia-Pacific Passenger Car Market by Vehicle Type
9.3.5.6.2 Rest of Asia-Pacific Passenger Car Market by Fuel Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Passenger Car Market Overview
9.4.2 Middle East and Africa Passenger Car Market Forecasts and Analysis
9.4.3 Middle East and Africa Passenger Car Market Forecasts and Analysis - By Vehicle Type
9.4.4 Middle East and Africa Passenger Car Market Forecasts and Analysis - By Fuel Type
9.4.5 Middle East and Africa Passenger Car Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Passenger Car Market
9.4.5.1.1 South Africa Passenger Car Market by Vehicle Type
9.4.5.1.2 South Africa Passenger Car Market by Fuel Type
9.4.5.2 Saudi Arabia Passenger Car Market
9.4.5.2.1 Saudi Arabia Passenger Car Market by Vehicle Type
9.4.5.2.2 Saudi Arabia Passenger Car Market by Fuel Type
9.4.5.3 U.A.E Passenger Car Market
9.4.5.3.1 U.A.E Passenger Car Market by Vehicle Type
9.4.5.3.2 U.A.E Passenger Car Market by Fuel Type
9.4.5.4 Rest of Middle East and Africa Passenger Car Market
9.4.5.4.1 Rest of Middle East and Africa Passenger Car Market by Vehicle Type
9.4.5.4.2 Rest of Middle East and Africa Passenger Car Market by Fuel Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Passenger Car Market Overview
9.5.2 South and Central America Passenger Car Market Forecasts and Analysis
9.5.3 South and Central America Passenger Car Market Forecasts and Analysis - By Vehicle Type
9.5.4 South and Central America Passenger Car Market Forecasts and Analysis - By Fuel Type
9.5.5 South and Central America Passenger Car Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Passenger Car Market
9.5.5.1.1 Brazil Passenger Car Market by Vehicle Type
9.5.5.1.2 Brazil Passenger Car Market by Fuel Type
9.5.5.2 Argentina Passenger Car Market
9.5.5.2.1 Argentina Passenger Car Market by Vehicle Type
9.5.5.2.2 Argentina Passenger Car Market by Fuel Type
9.5.5.3 Rest of South and Central America Passenger Car Market
9.5.5.3.1 Rest of South and Central America Passenger Car Market by Vehicle Type
9.5.5.3.2 Rest of South and Central America Passenger Car Market by Fuel Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. PASSENGER CAR MARKET, KEY COMPANY PROFILES
11.1. BMW AG
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DAIMLER
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DONGFENG
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FAW GROUP
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. FIAT CHRYSLER AUTOMOBILES N.V.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. FORD MOTOR COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. GENERAL MOTORS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAIC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TOYOTA MOTOR CORPORATION
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VOLKSWAGEN GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.BMW AG
2.Daimler
3.Dongfeng
4.FAW Group
5.Fiat Chrysler Automobiles N.V.
6.Ford Motor Company
7.General Motors
8.SAIC
9.Toyota Motor Corporation
10.Volkswagen Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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