Passenger vehicles are the most frequent means of transportation in industrialised countries, and their use is expanding in underdeveloped countries as per capita income rises. The passenger vehicle market in a country is heavily influenced by its current economic situation, which is why this industry suffered during the recessions in the United States and Europe. Many of the passenger vehicle manufacturers including General Motors, Ford and Chrysler had to seek for a heavy sum of loans to continue manufacturing in the weaker economic situation due to low demands. Passenger vehicles market can be segmented into four segments namely small, medium, large and premium.
The "Global Passenger vehicle Market Analysis to 2028" 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 vehicle market with detailed market segmentation by type, body, application, fuel type, and geography. The report provides key statistics on the market status of the leading passenger vehicle market players and offers key trends and opportunities in the market.
- Based on type, the global Passenger vehicle market market is segmented into compact, midsize, luxury, and others.
- On the basis of body, the market is segmented into MPV, SUV, hatchback, sedan , and others.
- On the basis of application, the market is segmented into perosnal, commercial, electric.
- On the basis of fuel type, the market is segmented into petrol, diesel, and CNG.
- The demand for Special Utility Vehicles (SUVs) has surged in recent times due to the increasing leisure and tour activities globally.
- The emerging vehicle financing market has been encouraging the passenger vehicles industry wherein the customers are provided loans to own the vehicle.
- Increasing raw material prices
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 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The passenger vehicle 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 marketduring 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 vehicle market in these regions.
IMPACT OF COVID-19 ON PASSENGER VEHICLE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the passenger vehicle market 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 marketwere 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 vehicle market market are anticipated to lucrative growth opportunities in the future with the rising demand for passenger vehicle market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the passenger vehicle 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.
- Toyota Motor Corporation.
- Volkswagen Group
- Ford Motor Company
- Honda Motor Company
- Nissan Motor Company Ltd
- Hyundai Motor Company
- Suzuki Motor Corporation
- BMW AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.