Global Passenger Cars Market Overview:
Mobility is becoming progressively more important due to ever-increasing distances between home, work, educational institutions, shopping and leisure facilities. Passenger cars are road motor vehicles with at least four wheels, used for the transportation of passengers, and containing no more than eight seats in addition to the driver's seat. A key factor driving the growth of the passenger cars market is the increasing number of new models of cars launched due to high competition and the high rate of automotive technological advancements Some of the key players profiled in the study are General Motors (United States), Toyota (Japan), Ford Motor Company (United States), Volkswagen AG (Germany), Daimler Chrysler AG (Germany), Nissan Motor Company Ltd. (Japan), Honda (Japan), Groupe PSA (France), Hyundai Motor (South Korea), CitroŽn (France) and Audi AG (Germany).
On the basis of geography, the market of Passenger Cars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Size, the sub-segment i.e. Mid-sized Cars will boost the Passenger Cars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Propulsion, the sub-segment i.e. Electric passenger cars will boost the Passenger Cars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The diversity of new models of cars launched
- Rising income and following increase in the purchasing power
- The cheap availability of credit payment options
- Rising raw materials and fuel prices with low profit margins
- The technological advancements in automotive
- Rising cost pressure on OEMs
- High environmental and safety regulations
Major Market Developments:
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new product launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions worldwide to avail competitive advantage through combined synergies
Passenger cars and trucks are regulated by EPA under "light-duty" vehicle programs. EPA regulates passenger vehicles to reduce the amount of harmful emissions. There are regulations for multiple aspects of passenger vehicles, including standards for exhaust and evaporative emissions, control of hazardous air pollutants and air toxics, national low emission vehicle program and others
Manufacturers of passenger cars, Suppliers of passenger cars parts, Wholesalers, distributers and retailers of passenger cars, Automotive industry and Governmental bodies
Major Objectives Focused through this Study
To define, describe, and forecast the Global Passenger Cars market on the basis of product [Sedans and hatchbacks, SUVs and crossovers and MPVs and vans] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Passenger Cars market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Passenger Cars industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Porsche Automobil Holding SE (Germany), Mazda Motor Corporation (Japan), Volvo Car Corporation (Sweden) and Skoda Auto (Czech Republic).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Passenger Cars market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.