Global Motor Vehicle Steering and Suspension Components Market

The motor vehicle body, stamped metal, & other parts market consists of sales of motor vehicle bodies, stamped motor vehicle metals, & other motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle stampings, such as fenders, tops, body parts, trim, and moldings or produce and/or rebuild motor vehicle parts and accessories (except motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components, motor vehicle brake systems, motor vehicle transmissions, and power train parts, motor vehicle seating and interior trim, and motor vehicle stampings). The main types in the motor vehicle body, are stamped metal, & other parts of the motor vehicle body, stamped metal, other parts. Stamped metal refers to metal stamping Is utilized in auto parts manufacturing, it is a cost-effective fast, and versatile manufacturing method. The various applications include passenger vehicles, commercial vehicles. These are used OEM, aftermarket. The global motor vehicle body, stamped metal & other parts market size is expected to grow from $1,213.62 billion in 2021 to $1,332.74 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The global motor vehicle parts market is expected to grow to $1,860.64 billion in 2026 at a CAGR of 8.7%. Advances in technology are expected to be a continued driver of market growth in the forecast period. The motor vehicle body, metal stamping & other parts 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 body, metal stamping & other parts market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle body, metal stamping & other parts 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and 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 impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle body, metal stamping & other parts market will recover from the shock across 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 parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance. IoT helps motor vehicle parts manufacturers to increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures. For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP's back-end software. This IoT technology uses SAP's real-time database HANA to monitor and support the production of automobile parts. The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze the manufacturing processes. Major companies in the motor vehicle body, stamped metal, & other parts market include General Motors Co, Tenneco Inc, Magna International Inc, Lear Corp, Faurecia SA, Continental AG, Mitsubishi Motors Corp, Plastic Omnium SA, Autoliv Inc, and Aisin Seiki Co ltd. Asia Pacific was the largest region in the motor vehicle body, stamped metal, & other parts market in 2021. Western Europe was the second largest market in the global motor vehicle body, stamped metal & other parts market. The regions covered in the global motor vehicle body, stamped metal and other parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in motor vehicle body, stamped metal, & other 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, Vietnam. The global motor vehicle body, stamped metal & other parts market is segmented - 1) By Type: Motor Vehicle Body, Stamped Metal, Other Parts 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket

The motor vehicle electrical & electronic equipment, steering, suspension, & interiors market consists of sales of motor vehicle electrical & electronic equipment, steering, suspension, & interiors, and related services by entities (organizations, sole traders, and partnerships) that produce and/or rebuild electrical and electronic equipment for motor vehicles and internal combustion engines, motor vehicle steering mechanisms and suspension components or motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. The main types in motor vehicle electrical & electronic equipment, steering, suspension, & interiors market are motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components (except spring), motor vehicle seating, and interior trim. The motor vehicle's electrical and electronic equipment refers to the electronic equipment parts of the motor vehicle. The various applications include passenger vehicles, commercial vehicles. These are used in OEM, aftermarket. The global motor vehicle electrical & electronic equipment, steering suspension, & interiors market size is expected to grow from $407.12 billion in 2021 to $454.54 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global motor vehicle electrical & electronic equipment, steering suspension, and interiors market size is expected to grow to $684.9 billion in 2026 at a CAGR of 10.8%. Advances in technology are expected to be a continued driver of motor vehicle electrical & electronic equipment, steering suspension, & interiors 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 electrical & electronic equipment, steering suspension, & interiors market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle electrical & Electronic equipment, steering suspension& interiors 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and 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 impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle electrical & Electronic equipment, steering suspension& interiors market will recover from the shock across 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 the automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to a report by EY firm, electric vehicles transformation in India may affect existing automobile spare part sales as EVs are built with 20 moving parts while vehicles equipped with internal combustion engines have around 200 spare parts. Major companies in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market include Denso Corp, Fiat Chrysler Automobiles NV, SAIC Motor Co ltd, Adient plc, Peugeot, Toyota Boshoku Corporation, Continental AG, Aptiv plc, Magna International Inc, and Valeo SA. Asia Pacific was the largest region in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market in 2021. North America was the second largest market in the global motor vehicle electrical & electronic equipment, steering suspension, & interiors market. The regions covered in the global motor vehicle electronic equipment, steering suspension, & interiors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in motor vehicle electrical & electronic equipment, steering, suspension, & interiors 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 global motor vehicle electrical & electronic equipment, steering suspension, & interiors market is segmented - 1) By Type: Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket

The motor vehicle electrical and electronic equipment market consists of sales of motor vehicle electrical and electronic equipment and related services used for motor vehicles including cars, buses, motorcycles, off-road vehicles, light trucks, and regular trucks. The electrical and electronic components of motor vehicles include a battery, starter and alternator, fans, electric cooling, windshield washer pump, and windshield wiper systems. It also includes equipment that is electrically operated systems built into vehicles such as fuel injection systems, airbags, and advanced driver assistance systems. The main types in the motor vehicle electrical and electronic equipment are lighting equipment, automatic voltage and voltage-current regulators, insulated ignition wiring sets, generators for internal combustion engines, spark plugs for internal combustion, and other types. Lighting equipment refers to the electronic equipment that is considered for usage in motor vehicles. The various vehicle types include two-wheelers, passenger cars, and commercial vehicles. The various vehicle class is mid-priced, luxury. The global motor vehicle electrical and electronic equipment market size is expected to grow from $153.06 billion in 2021 to $170.98 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The global motor vehicle electrical and electronic equipment market is then expected to grow to $258.16 billion in 2026 at a CAGR of 10.8%. The motor vehicle electrical and electronic equipment market is driven by the increase in the demand for safer vehicles installed with electrical and electronic safety equipment to minimize the risk of road accidents. The rise in the number of accidents is a result of reckless driving, overspeeding, a decline to follow traffic rules, and drunken driving. Electrical and electronic systems such as anti-lock braking systems (ABS) increase the safety of the vehicle by preventing wheels from locking up during a fast braking process. For instance, In 2019, according to the global new car assessment program (Global NCAP), every day 3,700 people are killed in road crashes worldwide. Hence, The global new car assessment program (Global NCAP) had initiated a goal of the UN Decade of Action for Road Safety and also establishes new goals for 2030 to avoid these road crashes and maintain safety. The demand for vehicles that are less prone to accidents holds a positive impact on the growth of the motor vehicle electrical and electronic equipment market. The risk of life-threatening accidents due to the failure of electrical and electronic equipment in motor vehicles holds a negative impact on the growth of the motor vehicle electrical and equipment market. Any malfunctions with the electrical systems in the vehicles can lead to serious accidents. As reported by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, an agency of the U.S. federal government electrical system failure was the cause of 21% of motor vehicle accidents. In 2020, Toyota and Honda to recall over 6 million vehicles globally, which is a danger to travelers. The Toyota recall affects about 3.4 million vehicles globally and is being done because the airbags may not expand in a crash. Honda's recall covers approximately 2.7 million vehicles in the US and Canada with Takata airbag inflators. The risk involved with the failure of electrical and electronic equipment in motor vehicles restricts the growth of the market. The motor vehicle electrical and electronic equipment manufacturers are investing in improving the electronic sensors used in motor vehicles such as cars, trucks to increase visibility and awareness. Some vehicle sensors include ambient light, battery current, differential oil temperature, door open warning, anti-lock braking system (ABS), auto door lock position, battery temperature, brake power booster. Companies involved in the market are now developing sensors coupled with artificial intelligence and mobile connectivity. For instance, BMW in 2019 launched its BMW natural interaction system that uses voice commands, gesture control, and facial recognition to set temperatures according to the preferences of the driver, to open windows through a combination of the driver pointing and giving verbal instruction. The new sensory technology is said to be used in the next vehicle launched in 2021. The improvement in sensor technology marks the latest trend among the companies involved in the motor vehicle electrical and equipment market. In June 2021, Hyundai Motor Group, a company manufacturing automotive-based in South Korea acquired Boston Dynamics Inc. for a deal amount of 1.1 billion. With this acquisition, the Hyundai Group expands its strategic transformation into a smart mobility solution provider has invested substantially in the development of future technologies, including, artificial intelligence (AI), autonomous driving, Urban Air Mobility (UAM), smart factories, and robots. Boston Dynamics Inc., a company operating in the motor vehicle electrical and electronic equipment specialized in robots based in the United States. Major players in the motor vehicle electrical and electronic equipment market are Bosch, General Motors Corp., Tenneco, DENSO Manufacturing Tennessee, Delphi Corp, Hyundai, Hella, Technitrol Delaware Inc, Ford Motor Co., and Technitrol Delaware Inc. Asia Pacific was the largest region in the motor vehicle electrical and electronic equipment market in 2021. Western Europe was the second largest market in the global motor vehicle electrical and electronic equipment market. The regions covered in the global motor vehicle electronic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle electrical and electronic equipment market include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The global motor vehicle electrical and electronic equipment market is segmented - 1) By Product Type: Lighting Equipment, Automatic Voltage and Voltage-Current Regulators, Insulated Ignition Wiring Sets, Generators for Internal Combustion Engines, Spark Plugs for Internal Combustion, Others 2) By Vehicle Type: Two-Wheelers, Passenger Cars, Commercial Vehicles 3) By Vehicle Class: Mid-Priced, Luxury

The motor vehicle engine, power train, & parts market consists of sales of motor vehicle engines, power train, & parts and related services by entities (organizations, sole traders, and partnerships) that produce and/or rebuild motor vehicle transmissions and power train parts. The main types in the motor vehicle engine, power train, & parts are vehicle engine and engine parts, power train, and power train parts. The vehicle engine and engine parts refer to the vehicle engine parts that are used in motor vehicles. The various applications include passenger vehicles, commercial vehicles. These are used in OEM and aftermarket. The global motor vehicle engine, power train & parts market size is expected to grow from $715.33 billion in 2021 to $784.72 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The global motor vehicle engine and parts market size is expected to grow to $1,093.23 billion in 2026 at a CAGR of 8.6%. The motor vehicle engine, power train & part market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market 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 the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle engine, power train & parts 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and 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 declining in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle engine, power train & parts market will recover from the shock across 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 parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance. IoT helps motor vehicle parts manufacturers to increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures. For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP's back-end software. This IoT technology uses SAP's real-time database HANA to monitor and support the production of automobile parts. The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze the manufacturing processes. Major companies in the motor vehicle, engine, powertrain, and parts market include EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd, Toyota Motor Corp, Denso Corp, Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, and Dana Incorporated. Asia Pacific was the largest region in the motor vehicle engines, power trains, & parts market in 2021. Western Europe was the second largest market in the global motor vehicle engine, power train & parts market. The regions covered in the global motor vehicle engine, power train and parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in the motor vehicle engines, power trains, & parts markets 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 global motor vehicle engine, power train & parts market is segmented - 1) By Type: Vehicle Engine and Engine Parts, Power Train and Power Train Parts 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket

The motor vehicle seating and interior trim market consist of sales of motor vehicle seating and interior trim and related services used to increase the aesthetic appeal of the motor vehicle. The motor vehicle seating and interior trim market involve the production of motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. Motor vehicle interior trim involves decorative parts such as leather seat door trims, headliners, door weather strips, sun visors, and cosmetic changes that do not add any functionality but increase the aesthetic appeal of the motor vehicle. The main types in motor vehicle seating and interior trim include motor vehicle seating and motor vehicle interior trim. The motor vehicle interior trims are referred to as the trims that are installed in a vehicle to give an aesthetic look. The various vehicles include passenger vehicles and commercial vehicles. The global motor vehicle seating and interior trim market size is expected to grow from $172.45 billion in 2021 to $192.86 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The global motor vehicle seating and interior trim market is then expected to grow to $292.48 billion in 2026 at a CAGR of 11%. The motor vehicle seating and the interior trim market are driven by the increasing popularity of sport utility vehicle (SUV) cars. SUV cars are preferred owing to their comfortable seating and exquisite interior trim. The demand for SUVs and other luxurious cars increases the demand for improved and more aesthetically appealing vehicle seating and interior trim. In 2019, Indians purchased 21% more SUVs than in the previous year. According to a November 2019 survey, Hyundai delivered more than 51,000 units of its brand unique SUV, Hyundai Venue, in the first six months of its lifecycle, which was released on the market in May 2019. The increase in demand for SUVs around the world positively impacts the growth of vehicle seating and the interior trim market. The failure to meet the required quality standard of motor vehicle seating and interior trim parts restricts the growth of the motor vehicle seating and interior trim market. The car seats and other interior trim car parts are recalled when a manufacturer or the US National Highway Traffic Safety Administration (NHTSA) determines that a vehicle car seat or other equipment creates an unreasonable safety risk or fails to meet minimum safety standards. Such recalls costing a huge amount to the manufacturer who has to bear the loss. For instance, in 2019 Ford Motor Company announced its recall of about 550,000 trucks and SUVs in North America due to defects in seat strength and sharp edges that posed a risk of injury in a crash. To mitigate the risk of accidents, Ford dealers were directed by the manufacturer to install tape to the exposed edge, at no charge to the motor vehicle owners. Thus, the risk of failure to meet the required quality standards negatively impacts the growth of the motor vehicle seating and interior trim market. The companies in the motor vehicle seating and interior trim market are investing in the use of sustainable materials for car interior trim. To attract the buyers inclined towards using eco-friendly ways of living, the manufacturers are using sustainable options for car interior trim parts. For instance, Land Rover in 2019, introduced its new line of leather-free and fully vegan materials that are used in interior trim for its 2020 Range Rover Evoque, Range Rover Velar, and Jaguar I-Pace SUVs. Land Rover's Evoque is equipped with eucalyptus melange premium textile produced from eucalyptus fibers using less water. It also uses a premium textile, from Kvadrat, made with 53 recycled plastic bottles per car and is combined with Dinamica Miko suede cloth. In February 2020, Supreme Nonwovens Group, a Maharashtra-based automotive company acquired automotive interior trims and NVH business of Futuris Automotive for an undisclosed amount. This acquisition further reaffirms the Supreme Group's commitment to global automotive OEM customers. Futuris Automotive is a USA-based company that designs and develops JIT solutions, from initial styling concepts to large volume production for complete seating and interior trim systems. Major players in the motor vehicle seating and interior trim market are ContiTech AG, Magna International, Hyundai Mobis Co., Faurecia S.A., TATA Group, Toyoda Gosei, Johnson Controls, Faurecia S.A., Magna, and International Textile Group. Asia Pacific was the largest region in the motor vehicle seating and interior trim market in 2021. Western Europe was the second largest market in the global motor vehicle seating and interior trim market. The regions covered in the global motor vehicle seating and interior trim market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle seating and interior trim include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The global motor vehicle seating and interior trim market is segmented - 1) By Type: Motor Vehicle Seating, Motor Vehicle Interior Trim 2) By Vehicle: Passenger Vehicle, Commercial Vehicle

The motor vehicle market consists of sales of motor vehicles or motor vehicle chassis and related services by entities (organizations, sole traders, and partnerships) that produce complete automobiles, light-duty motor vehicles, and heavy-duty trucks (i.e., body and chassis or unibody) or produce motor vehicle chassis only. The main types in the motor vehicle market are motorcycle and bicycle, passenger car, commercial vehicle. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, other fuel types. These have engine capacity of <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc. These have propulsion types such as ic engine, and electric vehicle. The global motor vehicles market size is expected to grow from $2,154.31 billion in 2021 to $2,401.7 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The global motor vehicle market size is expected to grow to $3,565.82 billion in 2026 at a CAGR of 10.4%. The motor vehicle market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021.Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market 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 the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the motor vehicle market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicles 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and 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 impose lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicles market will recover from the shock across 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 levels 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, during the Consumer Electronics Show (CES) 2019, some of the car manufacturers such as Hyundai and Mercedes-Benz showcased their Augmented Reality cockpits prototypes which are very similar to the active windows 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 2021. North America was the second largest market in the global motor vehicles market. The regions covered in the global motor vehicles 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 global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Others 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

The motor vehicle and parts dealers market consists of sales of motor vehicles and parts and related services by entities (organizations, sole traders, and partnerships) that sell automobiles, other motor vehicles, automotive parts, accessories, and tires 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. A retail establishment that sells, rents, or leases new or used automobiles is referred to as an automobile dealership. The ownership types are retail chain and independent retailer managed through exclusive retailers/showroom and inclusive retailers/dealer store. The global motor vehicle and parts dealers market size is expected to grow from $4,133.97 billion in 2021 to $4,608.47 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The global motor vehicle and parts market size is expected to grow to $6,775.75 billion in 2026 at a CAGR of 10.1%. The 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, thus it is expected to drive the market going forward. The outbreak of the Coronavirus 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of lockdown and the outbreak had 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 across 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 2021. North America was the second-largest region in the global motor vehicle and parts dealers market. The regions covered in the global motor vehicle and part 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 report 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 global motor vehicle and parts dealers market is segmented - 1) By Type: Auto Parts And Accessories, Automobile Dealers, Others 2) By Ownership: Retail Chain, Independent Retailer 3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store