Global Passenger Car Market Trends And Strategies Of Major Players In The Passenger Car Market 2021-2030
12 Apr, 2021
The passenger car market consists of sales of passenger cars or passenger car chassis and related services by entities (organizations, sole traders and partnerships) that produce complete automobiles (with body and chassis) or produce automobile chassis only.
Global Passenger Car Market Size And Drivers:
The global passenger car market is expected to grow from $1.32 trillion in 2020 to $1.44 trillion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The market is expected to reach $1.98 trillion in 2025 at a CAGR of 8%.
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Trends In The Global Passenger Car Market
Additive manufacturing is continuously evolving and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification and functional parts used in test vehicles and engines. Automobile manufacturers are also using 3D printing to build a variety of tools, jigs and fixtures used in assembly and manufacturing processes. 3D printing helps in rapid prototyping, increases assembly line efficiency, lowers turnaround time, improves flexibility in design and reduces wastage of materials.
Global Passenger Car Market Segments:
The global passenger car market is further segmented based on type, fuel type, engine capacity, propulsion type and geography.
By Type: Hatchback, Sedan, Utility Vehicle.
By Fuel Type: Gasoline, Diesel, Others.
By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc.
By Propulsion Type: IC Engine, Electric Vehicle.
By Geography: The global passenger car market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global passenger car market, accounting for 46% of the total market.
Read More On The Report For The Global Passenger Car Market At:https://www.thebusinessresearchcompany.com/report/passenger-car-global-market-report-2020-30-covid-19-impact-and-recovery
Passenger Car Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides passenger car market overviews, analyzes and forecasts market size and growth for the global passenger car market, passenger car market share, passenger car market players, passenger car market segments and geographies, passenger car market’s leading competitors’ revenues, profiles and market shares. The passenger car market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.