Global Car & Automobile Manufacturing - Industry Market Research Report

Car crash: The industry suffered due to slowed demand for passenger vehicles as a result of the pandemic

Global car and automobile manufacturers benefited from strong consumer, business and government spending on passenger vehicles amid stable macroeconomic growth and historically low interest rates before the pandemic. Significant technological improvements, particularly regarding hybrid and electric vehicles, internal combustion engine fuel efficiency, infotainment development and autonomous driving capabilities, have also spurred global demand from the growing middle class. Even so, the pandemic led to a monumental slowdown, slashing vehicle demand.

As a result, automaker revenue contracted at an expected CAGR of 2. 3% to $2. 6 trillion through the current period, despite a 1. 6% jump in 2023 as the economy heats up. Operators in the Global Car and Automobile Manufacturing industry manufacture chassis for automobiles and light-duty motor vehicles, and assemble final automobiles and light-duty motor vehicles. These vehicles include passenger cars, pickup trucks, sport utility vehicles, crossover utility vehicles and vans. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.