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Microcars - Global Strategic Business Report

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    Report

  • 197 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2586884

Global Microcars Market to Reach $56.1 Billion by 2030

The global market for Microcars estimated at US$45.7 Billion in the year 2022, is projected to reach a revised size of US$56.1 Billion by 2030, growing at a CAGR of 2.6% over the analysis period 2022-2030. Electric, one of the segments analyzed in the report, is projected to record 3.2% CAGR and reach US$25.1 Billion by the end of the analysis period. Growth in the Hybrid segment is estimated at 2.1% CAGR for the next 8-year period.

Select Competitors (Total 57 Featured)

  • Ford Motor Company
  • Nissan Motor Co., Ltd.
  • Daimler AG
  • General Motors Company
  • Honda Motor Co., Ltd.
  • Mahindra & Mahindra Ltd.
  • Bayerische Motoren Werke AG (BMW GROUP)
  • Mitsubishi Motors Corporation
  • Daihatsu Motor Co., Ltd.
  • BYD Co., Ltd.
  • Kia Motors Corporation
  • Maruti Suzuki India Ltd.
  • Hyundai Motor Company
  • Mercedes-Benz AG
  • Fiat Automobiles Group

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Microcars Market

What is the estimated value of the Microcars Market?

The Microcars Market was estimated to be valued at $45.7 Billion in 2022.

What is the growth rate of the Microcars Market?

The growth rate of the Microcars Market is 2.6%, with an estimated value of $56.1 Billion by 2030.

What is the forecasted size of the Microcars Market?

The Microcars Market is estimated to be worth $56.1 Billion by 2030.

Who are the key companies in the Microcars Market?

Key companies in the Microcars Market include Ford Motor Company, Nissan Motor Co., Ltd., Daimler AG, General Motors Company, Honda Motor Co., Ltd., Mahindra & Mahindra Ltd., Bayerische Motoren Werke AG (BMW GROUP), Mitsubishi Motors Corporation, Daihatsu Motor Co., Ltd. and BYD Co., Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Microcars - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • How the Automotive Industry was Impacted by the Pandemic & What’s the New Normal?
  • Car Production YoY % Growth in 2020 Across Major Regional Markets
  • Pandemic Impacts Demand for Microcars
  • Increased Use of Mask-Vacation Pods at Workspaces, An Opportunity for Microcars
  • An Introduction to Microcars
  • Microcars: Promising Alternative to Traditional Vehicles
  • Global Market Prospects & Outlook
  • Developing Regions to Witness High Growth
  • Competition
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Challenges of Urban Transportation Enhance Importance of Microcars
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Growing Road Congestion and Restricted Parking Spaces Fuel Need for Smaller Microcars
  • Urbanization and Emergence of Smart Cities Spurs Demand for Light Vehicles, Microcars to Benefit
  • Global Smart Cities Market: Annual Sales in US$ Million for Years 2020 and 2027
  • Rise in Two-Wheeler Accidents Turns Consumers towards Microcars
  • Regulatory Pressures to Reduce Carbon Emissions Drives Focus onto Micro-Electric Vehicles
  • Trend towards Small and Low-Speed Electric Vehicles
  • Hybrid Cars to Remain in Race in Near Term
  • Government Support for Electric Vehicles: Micro-Electric Vehicles Market to Benefit
  • Micro-Mobility Trend Fuels Importance of Microcars
  • Global Micromobility Market Size (in $ Billion) for 2020, 2023 and 2026
  • Could Microcars Emerge as the Future of Shared Mobility Services?
  • Microcars Proved to be Successful for Car Sharing even before Pandemic
  • The Advantage of License-free Driving Bodes Well for Microcars Market
  • Changing Mobility Trends Affect Design Changes
  • Motorized Quadricycles Market: Poised for Healthy Growth
  • Safety Aspect Remains High Priority among Consumers
  • Stringent Eco-Norms and Safety Rules to Increase Prices of Microcars
  • Small Engine Compact Cars to Witness Robust Demand
  • Solar Electric Microcar - A New Development
  • Consumer Perceptions: A Major Hindrance for Adoption of Microcars
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Microcars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Microcars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 3: World 15-Year Perspective for Microcars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2015, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Electric by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Electric by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 6: World 15-Year Perspective for Electric by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Hybrid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Hybrid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 9: World 15-Year Perspective for Hybrid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Petrol / Diesel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Petrol / Diesel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 12: World 15-Year Perspective for Petrol / Diesel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Personal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Personal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 15: World 15-Year Perspective for Personal by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 18: World 15-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • TABLE 19: World Microcars Market Analysis of Annual Sales in US$ Million for Years 2015 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Microcars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Microcars for Car Sharing in the US
  • TABLE 20: USA Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 21: USA Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 22: USA 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 23: USA Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 24: USA Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 25: USA 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • CANADA
  • TABLE 26: Canada Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 27: Canada Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 28: Canada 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 29: Canada Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 30: Canada Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 31: Canada 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • JAPAN
  • Microcars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Market Overview
  • Japanese Minicars Market Breakdown by Leading Manufacturers (In %) for 2020
  • Increased Prominence of EVs: Implications for Keis Market
  • TABLE 32: Japan Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 33: Japan Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 34: Japan 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 35: Japan Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 36: Japan Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 37: Japan 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • CHINA
  • Microcars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Market Overview
  • Carbon Credits Program to Expand Micro Vehicles Market in China
  • TABLE 38: China Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 39: China Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 40: China 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 41: China Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 42: China Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 43: China 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • EUROPE
  • Microcars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Market Overview
  • TABLE 44: Europe Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 45: Europe Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 46: Europe 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 47: Europe Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 48: Europe Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 49: Europe 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • ASIA-PACIFIC
  • Microcars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Promising Potential for Microcars Market in India
  • TABLE 50: Asia-Pacific Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 51: Asia-Pacific Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 52: Asia-Pacific 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 53: Asia-Pacific Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 54: Asia-Pacific Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 55: Asia-Pacific 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
  • REST OF WORLD
  • TABLE 56: Rest of World Recent Past, Current & Future Analysis for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 57: Rest of World Historic Review for Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 58: Rest of World 15-Year Perspective for Microcars by Fuel Type - Percentage Breakdown of Value Sales for Electric, Hybrid and Petrol / Diesel for the Years 2015, 2023 & 2030
  • TABLE 59: Rest of World Recent Past, Current & Future Analysis for Microcars by Application - Personal and Commercial - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • TABLE 60: Rest of World Historic Review for Microcars by Application - Personal and Commercial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2015 through 2021 and % CAGR
  • TABLE 61: Rest of World 15-Year Perspective for Microcars by Application - Percentage Breakdown of Value Sales for Personal and Commercial for the Years 2015, 2023 & 2030
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Ford Motor Company
  • Nissan Motor Co., Ltd.
  • Daimler AG
  • General Motors Company
  • Honda Motor Co., Ltd.
  • Mahindra & Mahindra Ltd.
  • Bayerische Motoren Werke AG (BMW GROUP)
  • Mitsubishi Motors Corporation
  • Daihatsu Motor Co., Ltd.
  • BYD Co., Ltd.
  • Kia Motors Corporation
  • Maruti Suzuki India Ltd.
  • Hyundai Motor Company
  • Mercedes-Benz AG
  • Fiat Automobiles Group