Global Automotive Industry Market to Cross USD 1789 Billion by 2030 on Account of Shift towards Electric Vehicles and Global Urbanization Trends | By SNS Insider

As per SNS Insider’s research, as technological advancements continue to redefine the automotive landscape, stakeholders must remain agile to harness the full potential of these transformative forces, ensuring a sustainable and prosperous future for the global automotive industry market.

Pune, Nov. 20, 2023 (GLOBE NEWSWIRE) — The SNS Insider report indicates that the 2022 size for the Global Automotive Industry market is assessed at USD 436.89 billion, with a projected increase to USD 1789 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.25% during the period from 2023 to 2030.

Market Overview

The global automotive industry stands as a colossal entity, encompassing a vast network of manufacturers, suppliers, and distributors that collectively shape the landscape of mobility. This dynamic sector is marked by constant innovation, technological advancements, and shifting consumer preferences. The global automotive industry spans a spectrum of activities, ranging from the production of vehicles and components to distribution, marketing, and maintenance. It serves as a driving force for economic development and employment worldwide

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Market Analysis

The global automotive industry market is in the midst of a technological revolution, with advancements in artificial intelligence, connectivity, and autonomous driving reshaping the way vehicles are designed and operated. The integration of smart technologies not only enhances the driving experience but also contributes to increased safety and efficiency, driving consumer demand. The rising awareness of environmental sustainability has fueled a paradigm shift towards electric vehicles. Governments across the globe are incentivizing the production and adoption of electric cars, creating a conducive environment for manufacturers to invest in cleaner and greener automotive technologies. Rapid urbanization has led to increased demand for efficient and sustainable transportation solutions. Compact and fuel-efficient vehicles are gaining popularity in urban centers, and automakers are adapting their strategies to cater to this evolving market, contributing to overall industry growth. Developing economies are becoming significant players in the automotive industry. As disposable incomes rise in these regions, there is a surge in demand for automobiles, driving production and sales. The global automotive industry is increasingly dependent on these emerging markets for sustained growth.

Key Takeaway from Global Automotive Industry Market Study

  • In recent years, the Software Segment has emerged as a powerhouse of innovation within the global automotive industry market. With the rise of electric vehicles (EVs) and the integration of smart technologies, software has become a linchpin for vehicle functionality. Advanced driver-assistance systems (ADAS), infotainment systems, and over-the-air (OTA) updates are just a few examples of how software is enhancing the overall driving experience.
  • The Lithium-Ion Segment is at the forefront of the shift towards electric mobility. Lithium-ion batteries have become the preferred choice for electric vehicles due to their high energy density, longer lifespan, and lighter weight compared to traditional battery technologies. This dominance is not only limited to passenger vehicles but extends to commercial and industrial applications as well.

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Recent Developments

  • Tech Mahindra, a leading provider of digital transformation, consulting, and business reengineering services, has joined forces with Anyverse, a cutting-edge player in the artificial intelligence (AI) landscape. This strategic partnership aims to propel the automotive industry into a new era of innovation and efficiency through the accelerated adoption of AI technologies.
  • Himax, a leading provider of display imaging processing technologies, and Nexchip, a key player in the semiconductor industry, have announced a strategic alliance. This collaboration is poised to cultivate innovation and growth within the automotive display sector, unlocking new possibilities for enhanced in-vehicle experiences.

Market Dynamics Analysis

The global automotive industry market is a dynamic and ever-evolving market influenced by a myriad of factors that shape its trajectory. One of the primary drivers propelling the industry forward is the growing demand for electric vehicles (EVs) and the increasing emphasis on sustainability. Governments worldwide are implementing stringent emission standards, incentivizing the adoption of electric and hybrid vehicles, which is reshaping the competitive landscape. Additionally, advancements in autonomous vehicle technology and connectivity solutions are fostering innovation and influencing consumer preferences. However, the automotive industry faces a set of formidable challenges and restraints. One significant challenge is the global semiconductor shortage, disrupting the production of vehicles and leading to supply chain bottlenecks. This issue has highlighted the industry’s vulnerability to external shocks and the need for resilient supply chain management strategies. Moreover, the transition to electric vehicles poses challenges related to the infrastructure required for widespread adoption, including charging stations and grid capacity. Despite the promising developments, the industry is not immune to threats that could potentially impede its growth. Geopolitical tensions, trade disputes, and economic uncertainties can create disruptions in the supply chain and impact market dynamics.

Key Regional Developments

In North America, the automotive industry market is characterized by a strong emphasis on innovation, technological advancements, and a robust regulatory framework. The region is a key player in the development and adoption of electric vehicles (EVs) and autonomous driving technologies. Europe has long been at the forefront of automotive excellence, with a rich history of iconic brands and a commitment to sustainability. The region is witnessing a surge in electric vehicle adoption, fueled by stringent emission norms and government incentives. The Asia-Pacific region stands as a powerhouse in the global automotive industry, driven by the rapid economic growth of countries such as China and India. In China, the largest automotive market globally, the focus is on electric vehicles, smart mobility solutions, and connectivity.

Impact of Recession

One of the immediate consequences of the recession on the global automotive industry market is a substantial decline in vehicle sales. Consumers tend to postpone non-essential purchases during economic downturns, and the high-ticket nature of automotive products makes them especially vulnerable to such shifts in consumer behavior. In response to the ongoing recession, automotive companies are adopting strategic measures to weather the storm. Cost-cutting initiatives, operational efficiency improvements, and a focus on leaner production processes are becoming commonplace. Furthermore, there is an increased emphasis on innovation, with a shift towards electric and autonomous vehicles as a means of adapting to changing consumer preferences and regulatory landscapes.

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1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 Impact of the Russia-Ukraine War

4.2 Impact of Ongoing Recession

4.2.1 Introduction

4.2.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8 Global Automotive Industry Market Segmentation By Type

8.1 Global Automotive Industry Market, By Electric Vehicle

8.1.1 Electric Vehicle, By Type BEV HEV FEV PHEV

8.1.2 Electric vehicle, By Application Passenger Commercial

8.2 Global Automotive Industry Market, By Automotive Data Management

8.2.1 By Automotive Data Management, By Component Software Service

8.3 Global Automotive Industry Market, By Locomotive Market

8.3.1 By End User Passenger Transport Freight Transport

8.4 Global Automotive Industry Market, By Electric Scooters

8.4.1 Electric Scooters, By Battery Lithium Ion Lead Acid

8.5 Global Automotive Industry Market, By Automotive Electronics

8.5.1 Automotive Electronics, By Application ADAS Infotainment Body Electronics Safety Systems Powertrain Electronics

8.6 Global Automotive Industry Market, Autonomous Cars

8.6.1 Autonomous Cars, By Level Level 1 Level 2 Level 3 Level 4

9. Regional Analysis

9.1 Introduction

9.2 North America

9.2.5 USA

9.2.6 Canada

9.2.7 Mexico

9.3 Europe

9.3.1 Eastern Europe Poland Romania Turkey Rest of Eastern Europe

9.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

9.4 Asia-Pacific

9.4.5 China

9.4.6 India

9.4.7 Japan

9.4.8 South Korea

9.4.9 Vietnam

9.4.10 Singapore

9.4.11 Australia

9.4.12 Rest of Asia-Pacific

9.5 Middle East & Africa

9.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of Middle East

9.5.2 Africa Nigeria South Africa Rest of Africa

9.6 Latin America

9.6.5 Brazil

9.6.6 Argentina

9.6.7 Colombia

9.6.8 Rest of Latin America

10 Company profile Of Global Automotive Industry market

10.1 Major Players In Electric Vehicle Global Automotive Industry Market

10.1.1 BYD Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.1.2 TESLA

10.1.3 Volkswagen

10.1.4 SAIC Motors

10.1.5 Stellantis

10.1.6 General Motors

10.1.7 Kia Corp

10.1.8 NIO

10.1.9 TATA Motors

10.1.10 Others

10.2 Major Players In Automotive Data Management Global Automotive Industry Market.

10.2.1 Azuga Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.2.2 Microsoft.

10.2.3 IBM

10.2.4 Xevo

10.2.5 Agnik

10.2.6 SAP SE


10.2.8 Otonomo

10.2.9 Sibros tech

10.2.10 Others

10.3 Major Players In Electric Scooters Global Automotive Industry Market.

10.3.1 AllCell Tech Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.3.2 BMW

10.3.3 BOXX Corp

10.3.4 Gogoro

10.3.5 Green Energy Motors Corp  

10.3.6 Greenwit tech

10.3.7 Honda

10.3.8 KTM

10.3.9 Mahindra

10.4 Major Players In Automotive Electronics Global Automotive Industry Market

10.4.1 Continental AG Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.4.2 Denso

10.4.3 Valeo

10.4.4 Hitachi

10.4.5 Visteon Corp

10.4.6 ZF Friedrichshafen

10.4.7 Xilinx

10.4.8 Robert Bosch

10.4.9 Hella GmbH

10.4.10 Infineon

10.5 Major Players In Locomotive Global Automotive Industry Market.

10.5.1 TMH Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.5.2 CRRC

10.5.3 Wabtech Corp

10.5.4 Alstom

10.5.5 Siemens Mobility.

10.5.6 Sinara

10.5.7 Stadler

10.5.8 Hitachi

10.5.9 Hyundai Corp

10.5.10 Toshiba

10.6 Major Players In Autonomous Cars Global Automotive Industry Market.

10.6.1 AB Volvo Company Overview Financials Speed/Services/Offerings SWOT Analysis The SNS View

10.6.2 BMW AG

10.6.3 Diamler AG

10.6.4 Ford Motor

10.6.5 General Motors

10.6.6 Honda Motor

10.6.7 Nissan

10.6.8 Tesla

10.6.9 Toyota

10.6.10 Others

11. Competitive Landscape

11.1 Competitive Benchmarking

11.2 Market Share Analysis

11.3 Recent Developments

11.3.1 Industry News

11.3.2 Company News

11.3.3 Mergers & Acquisitions

12. USE Cases and Best Practices

13. Conclusion

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