Passenger Vehicle Market Insights and Growth by 2031
The passenger vehicle market is expected to register a CAGR of 8.1% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles is likely to remain a key trend in the market.
Passenger Vehicle Market Analysis
- The passenger vehicle industry is experiencing significant growth in terms of consumer demand, which is fueled by shifting consumer preference for more comfort while commuting and the growing standard of living, among others
- passenger vehicle industry is being shaped by the dynamic interaction between industry innovation and consumer expectations. Thus, manufacturers constantly adjust their products to meet the changing demands of their customers.
Passenger Vehicle Market Overview
- Advancements in technology, shifting consumer preferences, rising standard of living and strict environmental regulations are experiencing significant changes in the global passenger vehicle market.
- Global efforts to reduce carbon emissions and rising consumer awareness of sustainability have led to a noticeable shift in the automotive industry in recent years toward electric vehicles
- Governments throughout the world are promoting the transition to EV purchases and investments in charging infrastructure with incentives.
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Passenger Vehicle Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Passenger Vehicle Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Passenger Vehicle Market Drivers and Opportunities
Increasing Automobile Production to Favor the Market
- Growing urbanization and population growth are predicted to present a profitable opportunity for the passenger vehicle market.
- The rapid expansion of metropolitan areas worldwide is driving up demand for passenger cars.
- As cities expand, commutes often get longer, which is why a lot of people now prefer to use their mode of transportation.
- The growing automotive sales are anticipated to drive the growth of the passenger vehicle market globally.
Growing Technological Advancement
- Technological advancements, like the integration of the Internet of Things (IoT) and real-time information solutions into all EV charging station systems, are driving market expansion.
- The technologies locate charging stations in the vicinity and provide up-to-date information on available spots.
- The market is growing faster than expected due to the growing demand for luxury and heavy cars, as well as a rise in diesel-powered vehicles.
- An increase also aids market expansion in passenger car sales brought on by consumers' desire for reasonably priced cars.
- Additionally, the growth of the automotive sector, an increase in investments, and rising disposable income all help the market for passenger cars.
Passenger Vehicle Market Report Segmentation Analysis
Key segments that contributed to the derivation of the passenger vehicle market analysis are type, application, and fuel type.
- Based on type, the passenger vehicle market is divided into compact, midsize, luxury, and others.
- Based on application, the passenger vehicle market is divided into MPVs, SUVs, hatchbacks, sedans, and others.
- Based on fuel type, the passenger vehicle market is divided into petrol, diesel, and CNG.
Passenger Vehicle Market Share Analysis by Geography
- The passenger vehicle market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering passenger vehicle market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the passenger vehicle market in these regions.
Passenger Vehicle Market Report Scope
Passenger Vehicle Market News and Recent Developments
The passenger vehicle market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the passenger vehicle market are listed below:
- In a challenging 2022, Mercedes-Benz Passenger Cars delivered 2,043,900 vehicles to customers. On its way towards an all-electric future, Mercedes-Benz global deliveries of xEV models (PHEVs and BEVs including smart) reached 319,200 units (+19%), representing 15% of overall Mercedes-Benz Cars retail unit sales in 2022. Mercedes-Benz Passenger Cars more than doubled BEV deliveries to 117,800 units (+124%). Including smart, almost every second Mercedes-Benz Cars xEV-sale was a Battery Electric Vehicle. (Source: Mercedes Benz, Newsletter, Jan 2023)
- GMC has announced the 2024 Sierra EV Denali Edition 1 will add more all-electric range than originally estimated, expanding an already impressive list of features that will be available from launch. Through optimization of the GM Ultium Platform, the EV pickup will come standard with a GM-estimated 440 miles of range1 for the 2024 model year, a 10 percent increase from the originally estimated range of 400 miles. The Sierra EV Denali Edition 1 will also launch with a GM-estimated 10,000 pounds of max towing2 and 1,450 pounds of max payload3, an increase of 500 pounds and 150 pounds, respectively, from initial estimates. (GMC, Newsletter, May 2024)
Passenger Vehicle Market Report Coverage and Deliverables
The “Passenger Vehicle Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Passenger vehicle market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Passenger vehicle market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Passenger vehicle market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the passenger vehicle market
- Detailed company profiles
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.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share an excel dataset based on the request.
The leading players operating in the passenger vehicle market are BMW AG, Ford Motor Company, General Motor Company, Honda Motor Co. Ltd., Hyundai Motor Company, Mercedes-Benz, Nissan Motor Company Ltd, Suzuki Motor Corporation, and Toyota Motor Corporation.
An increase in sales of high-end vehicles is anticipated to play a significant role in the global passenger vehicle market in the coming years.
The global passenger vehicle market is expected to grow at a CAGR of 8.1% during the forecast period 2023 - 2031.
The rapid technological advancement in the automotive sector is one of the major factors driving the passenger vehicle market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Passenger Vehicle Market - By Type
1.3.2 Passenger Vehicle Market - By Body
1.3.3 Passenger Vehicle Market - By Application
1.3.4 Passenger Vehicle Market - By Fuel Type
1.3.5 Passenger Vehicle Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PASSENGER VEHICLE 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 VEHICLE 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 VEHICLE MARKET - GLOBAL MARKET ANALYSIS
6.1. PASSENGER VEHICLE - GLOBAL MARKET OVERVIEW
6.2. PASSENGER VEHICLE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PASSENGER VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. COMPACT
7.3.1. Overview
7.3.2. Compact Market Forecast and Analysis
7.4. MIDSIZE
7.4.1. Overview
7.4.2. Midsize Market Forecast and Analysis
7.5. LUXURY
7.5.1. Overview
7.5.2. Luxury Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. PASSENGER VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - BODY
8.1. OVERVIEW
8.2. BODY MARKET FORECASTS AND ANALYSIS
8.3. MPV
8.3.1. Overview
8.3.2. MPV Market Forecast and Analysis
8.4. SUV
8.4.1. Overview
8.4.2. SUV Market Forecast and Analysis
8.5. HATCHBACK
8.5.1. Overview
8.5.2. Hatchback Market Forecast and Analysis
8.6. SEDAN
8.6.1. Overview
8.6.2. Sedan Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PASSENGER VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PERSONAL
9.3.1. Overview
9.3.2. Personal Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. ELECTRIC
9.5.1. Overview
9.5.2. Electric Market Forecast and Analysis
10. PASSENGER VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
10.1. OVERVIEW
10.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
10.3. PETROL
10.3.1. Overview
10.3.2. Petrol Market Forecast and Analysis
10.4. DIESEL
10.4.1. Overview
10.4.2. Diesel Market Forecast and Analysis
10.5. CNG
10.5.1. Overview
10.5.2. CNG Market Forecast and Analysis
11. PASSENGER VEHICLE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Passenger Vehicle Market Overview
11.1.2 North America Passenger Vehicle Market Forecasts and Analysis
11.1.3 North America Passenger Vehicle Market Forecasts and Analysis - By Type
11.1.4 North America Passenger Vehicle Market Forecasts and Analysis - By Body
11.1.5 North America Passenger Vehicle Market Forecasts and Analysis - By Application
11.1.6 North America Passenger Vehicle Market Forecasts and Analysis - By Fuel Type
11.1.7 North America Passenger Vehicle Market Forecasts and Analysis - By Countries
11.1.7.1 United States Passenger Vehicle Market
11.1.7.1.1 United States Passenger Vehicle Market by Type
11.1.7.1.2 United States Passenger Vehicle Market by Body
11.1.7.1.3 United States Passenger Vehicle Market by Application
11.1.7.1.4 United States Passenger Vehicle Market by Fuel Type
11.1.7.2 Canada Passenger Vehicle Market
11.1.7.2.1 Canada Passenger Vehicle Market by Type
11.1.7.2.2 Canada Passenger Vehicle Market by Body
11.1.7.2.3 Canada Passenger Vehicle Market by Application
11.1.7.2.4 Canada Passenger Vehicle Market by Fuel Type
11.1.7.3 Mexico Passenger Vehicle Market
11.1.7.3.1 Mexico Passenger Vehicle Market by Type
11.1.7.3.2 Mexico Passenger Vehicle Market by Body
11.1.7.3.3 Mexico Passenger Vehicle Market by Application
11.1.7.3.4 Mexico Passenger Vehicle Market by Fuel Type
11.2. EUROPE
11.2.1 Europe Passenger Vehicle Market Overview
11.2.2 Europe Passenger Vehicle Market Forecasts and Analysis
11.2.3 Europe Passenger Vehicle Market Forecasts and Analysis - By Type
11.2.4 Europe Passenger Vehicle Market Forecasts and Analysis - By Body
11.2.5 Europe Passenger Vehicle Market Forecasts and Analysis - By Application
11.2.6 Europe Passenger Vehicle Market Forecasts and Analysis - By Fuel Type
11.2.7 Europe Passenger Vehicle Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Passenger Vehicle Market
11.2.7.1.1 Germany Passenger Vehicle Market by Type
11.2.7.1.2 Germany Passenger Vehicle Market by Body
11.2.7.1.3 Germany Passenger Vehicle Market by Application
11.2.7.1.4 Germany Passenger Vehicle Market by Fuel Type
11.2.7.2 France Passenger Vehicle Market
11.2.7.2.1 France Passenger Vehicle Market by Type
11.2.7.2.2 France Passenger Vehicle Market by Body
11.2.7.2.3 France Passenger Vehicle Market by Application
11.2.7.2.4 France Passenger Vehicle Market by Fuel Type
11.2.7.3 Italy Passenger Vehicle Market
11.2.7.3.1 Italy Passenger Vehicle Market by Type
11.2.7.3.2 Italy Passenger Vehicle Market by Body
11.2.7.3.3 Italy Passenger Vehicle Market by Application
11.2.7.3.4 Italy Passenger Vehicle Market by Fuel Type
11.2.7.4 United Kingdom Passenger Vehicle Market
11.2.7.4.1 United Kingdom Passenger Vehicle Market by Type
11.2.7.4.2 United Kingdom Passenger Vehicle Market by Body
11.2.7.4.3 United Kingdom Passenger Vehicle Market by Application
11.2.7.4.4 United Kingdom Passenger Vehicle Market by Fuel Type
11.2.7.5 Russia Passenger Vehicle Market
11.2.7.5.1 Russia Passenger Vehicle Market by Type
11.2.7.5.2 Russia Passenger Vehicle Market by Body
11.2.7.5.3 Russia Passenger Vehicle Market by Application
11.2.7.5.4 Russia Passenger Vehicle Market by Fuel Type
11.2.7.6 Rest of Europe Passenger Vehicle Market
11.2.7.6.1 Rest of Europe Passenger Vehicle Market by Type
11.2.7.6.2 Rest of Europe Passenger Vehicle Market by Body
11.2.7.6.3 Rest of Europe Passenger Vehicle Market by Application
11.2.7.6.4 Rest of Europe Passenger Vehicle Market by Fuel Type
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Passenger Vehicle Market Overview
11.3.2 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis
11.3.3 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis - By Body
11.3.5 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis - By Fuel Type
11.3.7 Asia-Pacific Passenger Vehicle Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Passenger Vehicle Market
11.3.7.1.1 Australia Passenger Vehicle Market by Type
11.3.7.1.2 Australia Passenger Vehicle Market by Body
11.3.7.1.3 Australia Passenger Vehicle Market by Application
11.3.7.1.4 Australia Passenger Vehicle Market by Fuel Type
11.3.7.2 China Passenger Vehicle Market
11.3.7.2.1 China Passenger Vehicle Market by Type
11.3.7.2.2 China Passenger Vehicle Market by Body
11.3.7.2.3 China Passenger Vehicle Market by Application
11.3.7.2.4 China Passenger Vehicle Market by Fuel Type
11.3.7.3 India Passenger Vehicle Market
11.3.7.3.1 India Passenger Vehicle Market by Type
11.3.7.3.2 India Passenger Vehicle Market by Body
11.3.7.3.3 India Passenger Vehicle Market by Application
11.3.7.3.4 India Passenger Vehicle Market by Fuel Type
11.3.7.4 Japan Passenger Vehicle Market
11.3.7.4.1 Japan Passenger Vehicle Market by Type
11.3.7.4.2 Japan Passenger Vehicle Market by Body
11.3.7.4.3 Japan Passenger Vehicle Market by Application
11.3.7.4.4 Japan Passenger Vehicle Market by Fuel Type
11.3.7.5 South Korea Passenger Vehicle Market
11.3.7.5.1 South Korea Passenger Vehicle Market by Type
11.3.7.5.2 South Korea Passenger Vehicle Market by Body
11.3.7.5.3 South Korea Passenger Vehicle Market by Application
11.3.7.5.4 South Korea Passenger Vehicle Market by Fuel Type
11.3.7.6 Rest of Asia-Pacific Passenger Vehicle Market
11.3.7.6.1 Rest of Asia-Pacific Passenger Vehicle Market by Type
11.3.7.6.2 Rest of Asia-Pacific Passenger Vehicle Market by Body
11.3.7.6.3 Rest of Asia-Pacific Passenger Vehicle Market by Application
11.3.7.6.4 Rest of Asia-Pacific Passenger Vehicle Market by Fuel Type
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Passenger Vehicle Market Overview
11.4.2 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis
11.4.3 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis - By Body
11.4.5 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis - By Fuel Type
11.4.7 Middle East and Africa Passenger Vehicle Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Passenger Vehicle Market
11.4.7.1.1 South Africa Passenger Vehicle Market by Type
11.4.7.1.2 South Africa Passenger Vehicle Market by Body
11.4.7.1.3 South Africa Passenger Vehicle Market by Application
11.4.7.1.4 South Africa Passenger Vehicle Market by Fuel Type
11.4.7.2 Saudi Arabia Passenger Vehicle Market
11.4.7.2.1 Saudi Arabia Passenger Vehicle Market by Type
11.4.7.2.2 Saudi Arabia Passenger Vehicle Market by Body
11.4.7.2.3 Saudi Arabia Passenger Vehicle Market by Application
11.4.7.2.4 Saudi Arabia Passenger Vehicle Market by Fuel Type
11.4.7.3 U.A.E Passenger Vehicle Market
11.4.7.3.1 U.A.E Passenger Vehicle Market by Type
11.4.7.3.2 U.A.E Passenger Vehicle Market by Body
11.4.7.3.3 U.A.E Passenger Vehicle Market by Application
11.4.7.3.4 U.A.E Passenger Vehicle Market by Fuel Type
11.4.7.4 Rest of Middle East and Africa Passenger Vehicle Market
11.4.7.4.1 Rest of Middle East and Africa Passenger Vehicle Market by Type
11.4.7.4.2 Rest of Middle East and Africa Passenger Vehicle Market by Body
11.4.7.4.3 Rest of Middle East and Africa Passenger Vehicle Market by Application
11.4.7.4.4 Rest of Middle East and Africa Passenger Vehicle Market by Fuel Type
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Passenger Vehicle Market Overview
11.5.2 South and Central America Passenger Vehicle Market Forecasts and Analysis
11.5.3 South and Central America Passenger Vehicle Market Forecasts and Analysis - By Type
11.5.4 South and Central America Passenger Vehicle Market Forecasts and Analysis - By Body
11.5.5 South and Central America Passenger Vehicle Market Forecasts and Analysis - By Application
11.5.6 South and Central America Passenger Vehicle Market Forecasts and Analysis - By Fuel Type
11.5.7 South and Central America Passenger Vehicle Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Passenger Vehicle Market
11.5.7.1.1 Brazil Passenger Vehicle Market by Type
11.5.7.1.2 Brazil Passenger Vehicle Market by Body
11.5.7.1.3 Brazil Passenger Vehicle Market by Application
11.5.7.1.4 Brazil Passenger Vehicle Market by Fuel Type
11.5.7.2 Argentina Passenger Vehicle Market
11.5.7.2.1 Argentina Passenger Vehicle Market by Type
11.5.7.2.2 Argentina Passenger Vehicle Market by Body
11.5.7.2.3 Argentina Passenger Vehicle Market by Application
11.5.7.2.4 Argentina Passenger Vehicle Market by Fuel Type
11.5.7.3 Rest of South and Central America Passenger Vehicle Market
11.5.7.3.1 Rest of South and Central America Passenger Vehicle Market by Type
11.5.7.3.2 Rest of South and Central America Passenger Vehicle Market by Body
11.5.7.3.3 Rest of South and Central America Passenger Vehicle Market by Application
11.5.7.3.4 Rest of South and Central America Passenger Vehicle Market by Fuel Type
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. PASSENGER VEHICLE MARKET, KEY COMPANY PROFILES
13.1. BMW AG
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. FORD MOTOR COMPANY
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. GENERAL MOTOR COMPANY
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. HONDA MOTOR CO. LTD.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. HYUNDAI MOTOR COMPANY
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MERCEDES-BENZ
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. NISSAN MOTOR COMPANY LTD
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SUZUKI MOTOR CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. TOYOTA MOTOR CORPORATION.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. VOLKSWAGEN AG
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. BMW AG
2. Ford Motor Company
3. General motor Company
4. Honda Motor Co. Ltd.
5. Hyundai Motor Company
6. Mercedes-Benz
7. Nissan Motor Company Ltd
8. Suzuki Motor Corporation
9. Toyota Motor Corporation.
10. Volkswagen AG
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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