Global Motor Vehicle Body Market

Motor vehicle refers to any land vehicle that is not propelled by human muscle power, including cars, motorbikes, autocycles, and slow-moving vehicles. An engine or motor, typically an internal combustion engine, an electric motor, or a hybrid of the two, such as a plug-in hybrid or hybrid electric vehicle, provides the propulsion for the vehicle. The main types in the motor vehicle market are motorcycles and bicycles, passenger cars and commercial vehicles. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, and other fuel types. These have an engine capacity of 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc . These have propulsion types such as ic engines and electric vehicles. The motor vehicle market research report is one of a series of new reports from The Business Research Company that provides motor vehicle market statistics, including motor vehicle industry global market size, regional shares, competitors with a motor vehicle market share, detailed motor vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global motor vehicles market grew from $2398.24 billion in 2022 to $2643.91 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicles market is expected to grow to $3818.12 billion in 2027 at a CAGR of 9.6%. The motor vehicle market is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the motor vehicle market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicle market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries-imposed lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle manufacturers, especially car manufacturers, are increasingly focusing on the commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel level information, vehicle speed, and other information. Some car manufacturers are also offering technologies that can be fixed on the dashboard of a car. For instance, in 2021, Huawei revealed its latest innovation at the Munich International Automobile Expo in Germany. The new AR HUD technology is an augmented reality-based system that transforms a car's front windshield into a smart display . Major companies in the motor vehicle market include Volkswagen AG, Toyota Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co Ltd., EXOR Group, Bayerische Motoren Werke AG, and Hyundai Motor Co Ltd. Asia-Pacific was the largest region in the motor vehicles market in 2022. North America was the second largest market in motor vehicles market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicles market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicle market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle Subsegments Covered: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses And Coaches

A passenger car is a road motor vehicle that is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger car market include hatchbacks, sedans, and utility vehicles. A hatchback is referred to as a car that is configured with a swing to provide access to a cargo area. The various fuel types include gasoline, diesel, and others. The various engine capacities are 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. The various propulsion types include IC engines and electric vehicles. The passenger car market research report is one of a series of new reports from The Business Research Company that provides passenger car market statistics, including passenger car industry global market size, regional shares, competitors with a passenger car market share, detailed passenger car market segments, market trends and opportunities, and any further data you may need to thrive in the passenger car industry. This passenger car market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global passenger car market grew from $1506.73 billion in 2022 to $1657.79 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger car market is expected to grow to $2372.13 billion in 2027 at a CAGR of 9.4%. 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. Major companies in the passenger car market include Toyota Motor Corp, Volkswagen AG, Honda Motor Co Ltd., Ford Motor Co, Fiat Chrysler Automobiles NV, Hyundai Motor Co Ltd., EXOR Group, Nissan Motor Co Ltd., Daimler AG, and SAIC Motor Co ltd. Asia-Pacific was the largest region in the passenger car market in 2022. Western Europe was the second-largest region in the passenger car market. The regions covered in the passenger car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger car market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The passenger car market consists of sales of pickup trucks, compact cars, and minivans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global passenger car market is segmented - 1) By Type: Hatchback, Sedan, Utility Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle

Motor vehicle part refers to any component that is typically fixed, glued, or otherwise attached to or a part of a vehicle, including the vehicle frame. It also comprises fragments of any such component. The main types of motor vehicle parts are motor vehicle bodies, stamped metal & other parts; motor vehicle engines; power train & parts; motor vehicle electrical & electronic equipment; steering suspension; & interiors. The motor vehicle body refers to the parts of the motor vehicle that help in certain functions they perform. The various applications include passenger vehicles and commercial vehicles. These are used in the OEM and aftermarket. The motor vehicle parts market research report is one of a series of new reports from The Business Research Company that provides motor vehicle parts market statistics, including motor vehicle parts industry global market size, regional shares, competitors with a motor vehicle parts market share, detailed motor vehicle parts market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle parts industry. This motor vehicle parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global motor vehicle parts market grew from $2,336.07 billion in 2021 to $2,515.85 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The motor vehicle parts market is expected to grow to $3,265.68 billion in 2016 at a CAGR of 6.7%. Technological Advances: Advances in technology are expected to be a continued driver of motor vehicle parts manufacturing market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing, and reconfigurable body panels. These innovations are expected to drive the motor vehicle parts manufacturing market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicle parts manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak is expected to continue to harm businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle parts manufacturing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. The demand for electric vehicles is increasing rapidly, and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars' components, less collaboration will be required between an automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to an EY report, the electric vehicle transformation in India may have an impact on existing automobile spare part sales because EVs have 20 moving parts while vehicles with internal combustion engines have around 200 spare parts. Major companies in the motor vehicle parts market include EXOR Group, Denso Corp, General Motors Co, Robert Bosch GmbH, Aisin Seiki Co Ltd., Continental AG, Fiat Chrysler Automobiles NV, Magna International Inc., Toyota Motor Corp, and SAIC Motor Co ltd. Asia-Pacific was the largest region in the motor vehicle parts market in 2022. Western Europe was the second largest market in motor vehicle parts market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicle parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippine, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain; Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicle part market consists of sales of motor vehicle seating, motor vehicle metal stampings, motor vehicle gasoline engines and engine parts, and interior trim. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global motor vehicle parts market is segmented - 1) By Type: Motor Vehicle Body, Stamped Metal & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End Use: OEM, Aftermarket Subsegments Covered: Motor Vehicle Body, Stamped Metal, Other Parts, Vehicle Engine And Engine Parts, Power Train And Power Train Parts, Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim

Transportation Manufacturing Market Characteristics

A commercial vehicle is a vehicle with a license to transport goods or materials rather than people. A commercial vehicle is used for commercial or business purposes. The main types in the commercial vehicle market include light commercial vehicles, heavy trucks, buses, and coaches. Light commercial vehicles refer to vehicles that are no more than 3.5 metric tons. The various fuel types are gasoline, diesel, and other fuel types. The various propulsion types include IC engines and electric vehicles. Commercial vehicles are used in mining and construction, logistics, passenger transportation, and other applications. The commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial vehicle market statistics, including commercial vehicle industry global market size, regional shares, competitors with a commercial vehicle market share, detailed commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the commercial vehicle industry. This commercial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global commercial vehicle market grew from $819.24 billion in 2022 to $908.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial vehicle market is expected to grow to $1345.23 billion in 2027 at a CAGR of 10.3%. Advances in technology are expected to be a continued driver of market growth in the forecast period. The commercial vehicle industry has experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features in 2020 include autonomous driving; driver override systems; biometric vehicle access; comprehensive vehicle tracking; active window displays; remote vehicle shutdown; active health monitoring; four-cylinder supercars; smart and personalized in-car marketing; and reconfigurable body panels. These innovations are expected to drive the commercial vehicle market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the commercial vehicle market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak continues to hurt businesses throughout 2020 and into 2021. However, it is expected that the commercial vehicle market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Major commercial vehicle manufacturers are investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Driverless commercial vehicles can sense their surrounding environment and navigate through an area without the involvement of humans using radar, GPS, and computer vision technology. With this technology becoming realistic, many companies are expected to be part of the production and design of driverless vehicles. Companies such as UPS and Amazon are testing driverless commercial vehicles to improve operational efficiencies and reduce costs. Major companies in the commercial vehicles market include Volkswagen AG, Daimler AG, Toyota Motor Corp, Peugeot, General Motors Co, Ford Motor Co, SAIC, Motor Co Ltd., Volvo AB, Bayerische Motoren Werke AG, and Kia Motors Corp. North America was the largest region in the commercial vehicles market in 2022. Asia-Pacific was the second-largest region in the commercial vehicle market. The regions covered in the commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motorcycle, bicycles, and parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The commercial vehicle market consists of sales of trucks, buses, trailers, taxis, heavy equipment, trailers, and travel trailers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global commercial vehicle market is segmented - 1) By Type: Light Commercial Vehicle, Heavy Trucks, Buses And Coaches 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Application: Mining & Construction, Logistics, Passenger Transportation, Other Applications 4) By Propulsion Type: IC Engine, Electric Vehicle

Motor vehicle and parts dealers refers to merchants that sell automobiles, other motor vehicles, automotive parts, accessories, and tyres to ultimate users. The companies in the industry typically operate from showrooms where vehicles and related parts are displayed. The major types of motor vehicle and parts dealers are auto parts and accessories, automobile dealers, and other motor vehicle dealers. An automobile dealership is a retail establishment that sells, rents, or leases new or used automobiles. Retail chain and independent retailer ownership is managed through exclusive retailers/showrooms and inclusive retailers/dealer stores. The motor vehicle and parts dealers market research report is one of a series of new reports from The Business Research Company that provides motor vehicle and parts dealers market statistics, including motor vehicle and parts dealers industry global market size, regional shares, competitors with a motor vehicle and parts dealer market share, detailed motor vehicle and parts dealer market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle and parts dealers industry. This motor vehicle and parts dealers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global motor vehicle and parts dealers market grew from $4,562.94 billion in 2022 to $4,929.73 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicle and parts dealers market is expected to grow to $6,467.01 billion in 2027 at a CAGR of 7.0%. Motor vehicle and parts dealers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty. Data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for motor vehicle and parts dealers to identify and meet the needs and expectations of their customers. This is expected to drive the market going forward. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicle and parts dealers market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in the manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of "lock down" and the outbreak having a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle and parts dealers market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle dealers are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store that offers consumers a chance to buy an experience rather than just an object or service. This trend is driven largely by millennials and their preference for experiences over things. These stores often use technology such as augmented reality and combine traditional elements with mobile apps and activities. For instance, car brand Audi has integrated a virtual reality (VR) experience in their showrooms to attract potential customers. The company designed the VR experience to present its vehicles to potential customers in a more personalized and engaging manner while solving the issue of smaller dealerships being unable to stock more than five cars. Major companies in the motor vehicles and part dealers market include Penske Automotive Group Inc., AutoNation Inc., CarMax Inc., AutoZone Inc., Lithia Motors Inc., O'Reilly Automotive Inc., Group 1 Automotive Inc., Jardine Cycle & Carriage Limited, Advance Auto Parts Inc., and Sonic Automotive Inc. Asia-Pacific was the largest region in the motor vehicle and parts dealers market in 2022. North America was the second-largest region in the motor vehicle and parts dealers market. The regions covered in the motor vehicle and parts dealers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the motor vehicle and part dealers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The motor vehicle and parts dealers’ market includes revenues earned by entities by OEM and aftermarket part dealers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global motor vehicle and parts dealers market is segmented - 1) By Type: Auto Parts And Accessories, Automobile Dealers, Other Motor Vehicle Dealers 2) By Ownership: Retail Chain, Independent Retailer 3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

Automotive repair and maintenance refer to the service of repair, alteration, restoration, towing, painting, and cleaning of automobiles. Regular vehicle service and maintenance give huge dividends in fuel efficiency, increase safety, and longevity, enhance performance and reliability, and save on expensive repairs. The main types of automotive repair and maintenance are automotive mechanical and electrical repair and maintenance, automotive body, paint, interior, glass repair, and others. The automotive mechanical and electrical repair and maintenance sector is made up of businesses that specialize in transmission repair, electrical system repair, engine repair and maintenance, and exhaust system replacement. The different vehicle types include passenger cars, light commercial vehicles, heavy commercial vehicles, bikes & scooters and involves several service providers such as automotive dealership, franchise general repairs, specialty shops, locally owned repair shops/body shops, and others. The automotive repair and maintenance market research report is one of a series of new reports from The Business Research Company that provides automotive repair and maintenance market statistics, including automotive repair and maintenance industry global market size, regional shares, competitors with automotive repair and maintenance market share, detailed automotive repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the automotive repair and maintenance industry. This automotive repair and maintenance market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global automotive repair and maintenance market grew from $837.14 billion in 2022 to $912.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive repair and maintenance market is expected to grow to $1247.01 billion in 2027 at a CAGR of 8.1%. Automotive repair and maintenance service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings. On-board diagnostics tools are being used to track vehicle conditions and identify potential problems by running diagnoses. For instance, Koovers, a car maintenance services provider, fits an onboard diagnostics tool for its registered customers. Its call center picks up the error reported by the tool and connects with the customer for required repair work. This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time. Automotive repair and maintenance services companies are increasingly using artificial intelligence-based automated vehicle inspection technology for vehicle inspection. Automated vehicle inspection systems capture pictures of the vehicle entering the cabin from multiple angles and upload them to the central computing system which then compares them with standards to identify deviations. The system generates a report with an overview of all the issues flagged in the car and the required actions needed to be taken. For instance, Scope technology, a US-based Tech Company, has developed an AI-automated vehicle inspection technology in collaboration with Microsoft’s Azure cloud computation. ProovStation, a French automobile maintenance service provider, implemented these systems in their service centers in France and North America. They use the technology to conduct a 360o scan of the vehicle, identify the damages such as scratches, dents, dirt, suspension, frame, brakes, and engine condition, and generate a report of the issues identified. The system generates a unique code and accounts for the vehicle with its chassis number for future service purposes. This entire visual inspection process is completed in less than 5 minutes and reduces costs by 50%. Major companies in the automotive repair and maintenance market include LKQ Corporation, LeasePlan Corporation N.V., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc., Nippon Express Co., Ltd., Lookers PLC, Halfords, ComfortDelGro Corporation and A2B Australia Ltd. Western Europe was the largest region in the automotive repair and maintenance market in 2022. Asia-Pacific was the second-largest region in the automotive repair and maintenance market. The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the automotive repair and maintenance market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The automotive repair and maintenance market consists of revenues earned by entities that provide services for passenger automobiles, commercial vehicles, and motorcycles and bicycles. This market includes establishments such as general automotive repair, automotive exhaust system repair, automotive transmission repair, other automotive mechanical and electrical repair and maintenance, automotive glass replacement, and car washes. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global automotive repair and maintenance market is segmented - 1) By Type: Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, Interior, and Glass Repair, Other Automotive Repair and Maintenance 2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike & Scooter 3) By Service Providers: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop, Other Service Providers Subsegments Covered: General Automotive Repair, Automotive Exhaust System Repair, Automotive Transmission Repair, Other Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, and Interior Repair and Maintenance, Automotive Glass Replacement, Automotive Oil Change and Lubrication, Car Washes, All Other Automotive Repair and Maintenance

The vehicle engine and engine parts are components that generate the power needed to propel a car or other vehicle. The main types of vehicle engines and engine parts are vehicle engines and vehicle engine parts. Vehicle engines are referred to as the engines that are used for vehicles, and there are many engine propulsion systems involving the parts of the vehicle. The various placement types are in-line engines, W engines, and V-types. The various fuel types are gasoline (petrol), diesel, gas, and other fuel types. The vehicle engine and engine parts market research report is one of a series of new reports from The Business Research Company that provides vehicle engine and engine parts market statistics, including global market size, regional shares, competitors with a vehicle engine and engine parts market share, detailed vehicle engine and engine parts market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle engine and engine parts industry. This vehicle engine and engine parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry. The global vehicle engine and engine parts market size will grow from $401.40 billion in 2022 to $438.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vehicle engine and engine parts market size is expected to grow to $600.27 billion in 2027 at a CAGR of 8.2%. The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market. The growth of the vehicle engine and engine parts market is restricted by the growing popularity of electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also do not contribute to air pollution. The popularity of the electric car market is backed up by several government initiatives, such as in Norway, where the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. the number of electric cars employed on the road reached 10 million in 2020. In 2021, According to mobi.com, China remained the world's largest car market. According to reports by the International Energy Agency (IEA), in 2021, electric car sales were more than doubled reaching 6.6 million, representing close to 9% of the global car market. With the increasing popularity of electric vehicles, the demand for engine-operated vehicles is negatively impacted, thus causing an overall fall in demand for the vehicle engine and engine parts market. Declining sales in the automobile sector restrict the growth of the vehicle engine and engine parts market. The decline in demand for automobiles in various economies causes lower demand for new engines and engine parts manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car production fell by 16% in 2020. In India, the Society of Indian Automobile Manufacturers said, there was decline in passenger car sales from 1,541,866 in 2021 to 1,467,056 units in 2022. The companies operating in the vehicle engine and engine parts market are investing in improving the fuel efficiency of internal combustion engines. Manufacturers are producing engines that deliver more power and improve fuel economy. Improving the fuel efficiency of vehicle engines serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve fuel efficiency, companies are investing in ' direct fuel injection' technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder, helping keep the engine's temperature down and increasing fuel efficiency. Also, as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines. In May 2022, Melling Engine Parts, a US-based manufacturer of aftermarket oil pumps and related products, acquired Sigma Engineering for an undisclosed amount. Through this acquisition, Melling Engine Parts will focus on controlling their supply and quality. Sigma Engineering is a US-based diesel and gas engine parts company. Major players in the vehicle engine and engine parts market are Cummins, Toyota Motor, Denso Corporation, Delphi Automotive PLC., Federal-Mogul Corporation, Mahle GmbH, BMW AG, General Motors, Volkswagen AG, and Fiat Automobiles SpA. Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2022. Western Europe was the second largest market in the global vehicle engine and engine parts market. The regions covered in the global vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the vehicle engine and engine parts include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia. The vehicle engine and engine parts market consist of sales of engine, transmission, driveshaft, axles, head, block, oil sump and differential. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global vehicle engine and engine parts market is segmented - 1) By Product Type: Vehicle Engines, Vehicle Engine Parts 2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types 3) By Placement Type: In-line Engine, W Engine and V-Type