The global Automotive industry is expected to register steady growth over the forecast period 2019-2025. The Automotive industry contributes significantly towards the economy of several major countries and also is considered to be the backbone of many nation’s GDP. Major factors that will augment the industry growth over the forecast period include rising disposable income and increasing focus on the development and rolling out of electric vehicles on road. Governments across the globe are providing subsidies on the purchase of electric vehicles to combat the environmental issues arising due to pollution from conventional vehicles. Thereby, focusing on surging the fleet size of electric vehicles in the existing vehicle fleet size of the country. Further, the disposable income of the consumer is rising due to which they are more likely to shift towards the more technologically equipped vehicles which are normally higher at price. Hence, likely to augment the global Automotive market value.
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However, the industry is facing a heavy headwind amidst the global economic downturn and trade war between China and the US. Moreover, there are several other factors at the regional level that are affecting the industry growth rate in a particular region. For instance, factors such as raising GST on automobile vehicles and mandatory implementation of BS-VI from April 2020 are responsible for the decline in the Automotive industry growth rate in India. While the industry has not recovered from these above factors, it has hit a hard brake with the recent outbreak of COVID-19 pandemic. The spread of coronavirus across the globe has forced plants to shut down, disrupted supply chain and quarantined workforces. Several Automotive giants such as Volkswagen AG, Hyundai, Toyota, and Tesla have shut down their production plants for a definite period, causing severe impact on the global Automotive industry.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
- Sales Channel
? OEM
? Aftermarket
- Product Type
? Passenger Vehicle
? Commercial Vehicle
- Propulsion Technology
? Conventional Vehicles
? New Energy Vehicles
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Companies Studied
- Bajaj Auto Ltd.
- BMW AG
- Daimler AG
- Fiat Chrysler Automobiles NV
- Ford Motor Co.
- General Motors Co.
- Groupe PSA
- Honda Motor Co. Ltd.
- Hyundai Motor Co.
- KIA Motors Corp.
- Renault SA
- Toyota Motor Corp.
- Volkswagen AG
- Yamaha Motor Co.
The Report Covers
- Comprehensive research methodology of the global Automotive industry.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global Automotive industry.
- Insights about market determinants that are stimulating the global Automotive industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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