Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- The Market Insights Reports has added a new statistical market report to its repository titled as, Passenger Car Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The report also presents forecasts for Passenger Car investments from 2020 to 2023.
The global passenger car market is expected to decline from $1454.6 billion in 2019 to $1413.5 billion in 2020 at a compound annual growth rate (CAGR) of -2.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $1722.6 billion in 2023.
Top Leading Companies of Global Passenger Car Market are Volkswagen; Toyota; General Motors; Renault-Nissan; Hyundai-Kia and others.
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Asia Pacific was the largest region in the global passenger car market, accounting for 45% of the market in 2019. Western Europe was the second largest region accounting for 22% of the global passenger car market. Africa was the smallest region in the global passenger car market.
The passenger car manufacturing market consists of sales of passenger cars or passenger car chassis by entities (organizations, sole traders and partnerships) that produce complete automobiles (with body and chassis) or produce automobile chassis only.
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.
Markets Covered:
1) By Type: Hatchback; Sedan; Utility 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
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Passenger Car Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Geographically, this report is segmented into several key Regions, with sales, revenue, Market Share (%) and Growth Rate (%) of Passenger Car in these regions, from 2015 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Passenger Car market with an analysis of market size by value and volume. Along with this, an analysis of the penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Passenger Car market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, externally verified to gain market size.
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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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