Motor Vehicles Market Characteristics
The motor vehicle market consists of sales of motor vehicles or motor vehicle chassis 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.
Competitive Landscape of the Motor Vehicles Market
Major players in the global motor vehicles market include Toyota Motor, Volkswagen Group, General Motors, Daimler AG, Ford Motor, Fiat Chrysler Automobiles, Honda, Nissan, SAIC Motor, and BMW Group.
Motor Vehicles Market Size
The motor vehicles market size is expected to reach $4 trillion by 2022, significantly growing at a CAGR of around 5% during the forecast period. The growth in the motor vehicles market is due to low fuel prices, increased demand for motor, vehicles in emerging countries such as China and India owing to rising disposable income and surge in manufacturing activity increased the demand for commercial vehicles in these countries.
However, the market for motor vehicles is expected to face certain restraints from several factors such as lack of available resources, increasing inventory levels, counterfeit products and reduction in free trade.
Motor Vehicles Market Segmentation
The global motor vehicles market is further segmented based on type and geography.
By Type - The motor vehicles market is segmented into commercial vehicle, passenger car, motorcycle and bicycle, among these segments, the commercial vehicle market accounts for the largest share in the global motor vehicles market.
By Geography - The global motor vehicles is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America motor vehicles market accounts the largest share in the global motor vehicles market.
Trends in the Motor Vehicles Market
3D printing for automobile manufacturing, pre-collision assist and pedestrian detection technology adoption and active window displays commercialization are the major trends witnessed in the global motor vehicles market.
Potential Opportunities in the Motor Vehicles Market
With positive economic outlook in both developed and developing economies, expected increase in demand for hybrid and electric vehicles spurred by technological developments, innovation and changing environmental regulations, the scope and potential for the global motor vehicles market is expected to significantly rise in the forecast period.