Motor Vehicles Market size to grow at a CAGR of 6.3% from 2022 to 2027, Driven by the growing urban population – Technavio

NEW YORK, May 3, 2023 /PRNewswire/ — The motor vehicles market size is forecast to increase by USD 28,721.3 thousand units from 2022 to 2027. The market is estimated to progress at a CAGR of 6.3%, according to the recent market study by Technavio. The growth of the market will be driven by the growing urban population, increasing demand for fuel-efficient and low-emission vehicles, and the growth in production volume of passenger vehicles. Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports Download the Sample Report in minutes!

Motor Vehicles market Vendor Analysis:

The global motor vehicles market is highly competitive, with numerous established players, and new entrants vying for market share. The market is dominated by major players, including General Motors, Volkswagen, Toyota, Ford, Honda, and Hyundai.

Technavio has extensively analyzed 15 major vendors, including Bayerische Motoren Werke AG, Beijing Automotive Group Co. Ltd., BYD Co. Ltd., Dongfeng Motor Group Co. Ltd., Ford Motor Co., Guangzhou Automobile Group Co. Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Porsche Automobil Holding SE, Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tata Motors Ltd., Tesla Inc., General Motors Co., Toyota Motor Corp., Zhejiang Geely Holding Group Co. Ltd., and China FAW Group Co. Ltd.

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Vendor Offerings –

• Bayerische Motoren Werke AG – The company offers various motor vehicles such as BMW Turbo, BMW 7 Series, BMW E1 prototype, and BMW X5 series.
• Beijing Automotive Group Co. Ltd. – The company offers passenger vehicles such as BJ40 Plus, BJ40 SE, BJ40 Offroader, F40, X35, and BJ80.
• BYD Co. Ltd. – The company offers passenger vehicles under the series called HAN EV.

To provide a deeper understanding of the competitive landscape, Technavio has profiled key players along with the study that categorizes the global market segmentation. Download The Sample Report

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Motor vehicles market – Market Segmentation:

This motor vehicles market report extensively covers market segmentation by propulsion (ICE, electric, and hybrid), vehicle type (passenger cars and commercial vehicles), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

• The market share growth by the ICE segment will be significant for the overall market growth during the forecast period. ICE is known as the internal combustion engine. It is a type of power source that powers a variety of automobiles by burning oil or natural gas to produce heat and produce electricity, which used to propel the vehicle in which it is installed. Diesel and gasoline engines dominates most of the market and the growth of this segment is attributed to the increasing disposable income of consumers and the increasing adoption of passenger vehicles, especially in emerging markets such as India. Furthermore, technological developments have also led to improvements in ICE in terms of emissions, performance, and fuel efficiency. Hence, such factors influence the segment growth during the forecast period.

Motor vehicles market – Market Dynamics:

Key Drivers:

• The growing urban population is a major driving factor for the motor vehicles market growth. 
• There is a rapid urbanization across the world, with more people moving to cities in search of better opportunities and a higher quality of life. According to the World Bank Group, the urban population (percentage of the total population) was 54% in 2015 and is trending to 56% in 2021, which is particularly pronounced in developing countries such as India with rapid economic growth and large-scale urbanization.
• Due to the increasing urbanization, the demand for automobiles is correspondingly increasing, as well as demand for transportation infrastructure such as roads, highways, bridges, and public transit systems. The infrastructure often supports the use of automobiles, a convenient and efficient means of transportation within cities.
• Moreover, modern automobiles are equipped with advanced features such as air conditioning, entertainment systems, and satellite navigation, making them attractive to city dwellers.
• Hence, such factors drive the motor vehicle market during the forecast period.

Major Trends:

• Technological advances in EVs are a major trend fueling the motor vehicles market growth. 
• The growing adoption of EVs is increasingly witnessing new opportunities for different stakeholders. The stakeholders include system integrators, vehicle manufacturers, engine manufacturers, and component providers.
• Since more consumers become aware and start understanding the benefits of EVs, and with the government supporting the trend with incentives, the market vendors have to cater to this increasing demand and provide better options.
• The high cost and limited range of these vehicles are among the major challenges associated with the adoption of EVs and to eliminate these, the vendors are expected to invest more time and energy in R and D and come up with better models of EVs.
• Hence, such trends are expected to fuel the market growth during the forecast period.

Key Challenges:

• The environmental concerns associated with vehicle emissions are a major challenge for the motor vehicles market growth. 
• One of the biggest challenges the market faces is environmental issues, which are becoming more and more important, with stakeholders demanding that automakers produce sustainable, environmentally friendly, and low-emission vehicles.
• Additionally, customers are becoming more conscious of their carbon footprint and choosing vehicles with a lower environmental impact.
• Moreover, governments around the world are also cracking down on vehicle emissions, creating regulations, and imposing penalties for violations.
• Hence, such factors hinder the market growth of motor vehicles during the forecast period.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market. download the sample report 

What are the key data covered in this Motor Vehicles Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the motor vehicles market between 2023 and 2027
• Precise estimation of the size of the motor vehicles market and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the motor vehicles market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of motor vehicles market vendors

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Table of Contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Propulsion
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (thousand units)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (thousand units)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global motor vehicles market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global motor vehicles market 2017 – 2021 (thousand units)

• 4.2 Propulsion Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Propulsion Segment 2017 – 2021 (thousand units)

• 4.3 Vehicle Type Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Vehicle Type Segment 2017 – 2021 (thousand units)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (thousand units)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (thousand units)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Propulsion

• 6.1 Market segments 
• Exhibit 30: Chart on Propulsion – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Propulsion – Market share 2022-2027 (%)

• 6.2 Comparison by Propulsion 
• Exhibit 32: Chart on Comparison by Propulsion
• Exhibit 33: Data Table on Comparison by Propulsion

• 6.3 ICE – Market size and forecast 2022-2027
• Exhibit 34: Chart on ICE – Market size and forecast 2022-2027 (thousand units)
• Exhibit 35: Data Table on ICE – Market size and forecast 2022-2027 (thousand units)
• Exhibit 36: Chart on ICE – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on ICE – Year-over-year growth 2022-2027 (%)

• 6.4 Electric – Market size and forecast 2022-2027
• Exhibit 38: Chart on Electric – Market size and forecast 2022-2027 (thousand units)
• Exhibit 39: Data Table on Electric – Market size and forecast 2022-2027 (thousand units)
• Exhibit 40: Chart on Electric – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Electric – Year-over-year growth 2022-2027 (%)

• 6.5 Hybrid – Market size and forecast 2022-2027
• Exhibit 42: Chart on Hybrid – Market size and forecast 2022-2027 (thousand units)
• Exhibit 43: Data Table on Hybrid – Market size and forecast 2022-2027 (thousand units)
• Exhibit 44: Chart on Hybrid – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Hybrid – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Propulsion 
• Exhibit 46: Market opportunity by Propulsion (thousand units)
• Exhibit 47: Data Table on Market opportunity by Propulsion (thousand units)

7 Market Segmentation by Vehicle Type

• 7.1 Market segments 
• Exhibit 48: Chart on Vehicle Type – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Vehicle Type – Market share 2022-2027 (%)

• 7.2 Comparison by Vehicle Type 
• Exhibit 50: Chart on Comparison by Vehicle Type
• Exhibit 51: Data Table on Comparison by Vehicle Type

• 7.3 Passenger cars – Market size and forecast 2022-2027
• Exhibit 52: Chart on Passenger cars – Market size and forecast 2022-2027 (thousand units)
• Exhibit 53: Data Table on Passenger cars – Market size and forecast 2022-2027 (thousand units)
• Exhibit 54: Chart on Passenger cars – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Passenger cars – Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicles – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Commercial vehicles – Market size and forecast 2022-2027 (thousand units)
• Exhibit 57: Data Table on Commercial vehicles – Market size and forecast 2022-2027 (thousand units)
• Exhibit 58: Chart on Commercial vehicles – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Commercial vehicles – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Vehicle Type 
• Exhibit 60: Market opportunity by Vehicle Type (thousand units)
• Exhibit 61: Data Table on Market opportunity by Vehicle Type (thousand units)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 67: Chart on APAC – Market size and forecast 2022-2027 (thousand units)
• Exhibit 68: Data Table on APAC – Market size and forecast 2022-2027 (thousand units)
• Exhibit 69: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 North America – Market size and forecast 2022-2027
• Exhibit 71: Chart on North America – Market size and forecast 2022-2027 (thousand units)
• Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 (thousand units)
• Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.5 Europe – Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 (thousand units)
• Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 (thousand units)
• Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
• Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
• Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 83: Chart on South America – Market size and forecast 2022-2027 (thousand units)
• Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 (thousand units)
• Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 87: Chart on China – Market size and forecast 2022-2027 (thousand units)
• Exhibit 88: Data Table on China – Market size and forecast 2022-2027 (thousand units)
• Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 91: Chart on US – Market size and forecast 2022-2027 (thousand units)
• Exhibit 92: Data Table on US – Market size and forecast 2022-2027 (thousand units)
• Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 (thousand units)
• Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 (thousand units)
• Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 India – Market size and forecast 2022-2027
• Exhibit 99: Chart on India – Market size and forecast 2022-2027 (thousand units)
• Exhibit 100: Data Table on India – Market size and forecast 2022-2027 (thousand units)
• Exhibit 101: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.12 Germany – Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany – Market size and forecast 2022-2027 (thousand units)
• Exhibit 104: Data Table on Germany – Market size and forecast 2022-2027 (thousand units)
• Exhibit 105: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography (thousand units)
• Exhibit 108: Market opportunity by geography (thousand units) – Volume

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Bayerische Motoren Werke AG 
• Exhibit 115: Bayerische Motoren Werke AG – Overview
• Exhibit 116: Bayerische Motoren Werke AG – Business segments
• Exhibit 117: Bayerische Motoren Werke AG – Key news
• Exhibit 118: Bayerische Motoren Werke AG – Key offerings
• Exhibit 119: Bayerische Motoren Werke AG – Segment focus

• 12.4 Beijing Automotive Group Co. Ltd. 
• Exhibit 120: Beijing Automotive Group Co. Ltd. – Overview
• Exhibit 121: Beijing Automotive Group Co. Ltd. – Product / Service
• Exhibit 122: Beijing Automotive Group Co. Ltd. – Key offerings

• 12.5 BYD Co. Ltd. 
• Exhibit 123: BYD Co. Ltd. – Overview
• Exhibit 124: BYD Co. Ltd. – Business segments
• Exhibit 125: BYD Co. Ltd. – Key news
• Exhibit 126: BYD Co. Ltd. – Key offerings
• Exhibit 127: BYD Co. Ltd. – Segment focus

• 12.6 China FAW Group Co. Ltd. 
• Exhibit 128: China FAW Group Co. Ltd. – Overview
• Exhibit 129: China FAW Group Co. Ltd. – Product / Service
• Exhibit 130: China FAW Group Co. Ltd. – Key offerings

• 12.7 Dongfeng Motor Group Co. Ltd. 
• Exhibit 131: Dongfeng Motor Group Co. Ltd. – Overview
• Exhibit 132: Dongfeng Motor Group Co. Ltd. – Business segments
• Exhibit 133: Dongfeng Motor Group Co. Ltd. – Key offerings
• Exhibit 134: Dongfeng Motor Group Co. Ltd. – Segment focus

• 12.8 Ford Motor Co. 
• Exhibit 135: Ford Motor Co. – Overview
• Exhibit 136: Ford Motor Co. – Business segments
• Exhibit 137: Ford Motor Co. – Key news
• Exhibit 138: Ford Motor Co. – Key offerings
• Exhibit 139: Ford Motor Co. – Segment focus

• 12.9 General Motors Co. 
• Exhibit 140: General Motors Co. – Overview
• Exhibit 141: General Motors Co. – Business segments
• Exhibit 142: General Motors Co. – Key news
• Exhibit 143: General Motors Co. – Key offerings
• Exhibit 144: General Motors Co. – Segment focus

• 12.10 Honda Motor Co. Ltd. 
• Exhibit 145: Honda Motor Co. Ltd. – Overview
• Exhibit 146: Honda Motor Co. Ltd. – Business segments
• Exhibit 147: Honda Motor Co. Ltd. – Key news
• Exhibit 148: Honda Motor Co. Ltd. – Key offerings
• Exhibit 149: Honda Motor Co. Ltd. – Segment focus

• 12.11 Hyundai Motor Co. 
• Exhibit 150: Hyundai Motor Co. – Overview
• Exhibit 151: Hyundai Motor Co. – Business segments
• Exhibit 152: Hyundai Motor Co. – Key news
• Exhibit 153: Hyundai Motor Co. – Key offerings
• Exhibit 154: Hyundai Motor Co. – Segment focus

• 12.12 Mercedes Benz Group AG 
• Exhibit 155: Mercedes Benz Group AG – Overview
• Exhibit 156: Mercedes Benz Group AG – Business segments
• Exhibit 157: Mercedes Benz Group AG – Key offerings
• Exhibit 158: Mercedes Benz Group AG – Segment focus

• 12.13 Porsche Automobil Holding SE 
• Exhibit 159: Porsche Automobil Holding SE – Overview
• Exhibit 160: Porsche Automobil Holding SE – Business segments
• Exhibit 161: Porsche Automobil Holding SE – Key offerings
• Exhibit 162: Porsche Automobil Holding SE – Segment focus

• 12.14 Renault SAS 
• Exhibit 163: Renault SAS – Overview
• Exhibit 164: Renault SAS – Product / Service
• Exhibit 165: Renault SAS – Key offerings

• 12.15 SAIC Motor Corp. Ltd. 
• Exhibit 166: SAIC Motor Corp. Ltd. – Overview
• Exhibit 167: SAIC Motor Corp. Ltd. – Business segments
• Exhibit 168: SAIC Motor Corp. Ltd. – Key news
• Exhibit 169: SAIC Motor Corp. Ltd. – Key offerings
• Exhibit 170: SAIC Motor Corp. Ltd. – Segment focus

• 12.16 Stellantis NV 
• Exhibit 171: Stellantis NV – Overview
• Exhibit 172: Stellantis NV – Business segments
• Exhibit 173: Stellantis NV – Key news
• Exhibit 174: Stellantis NV – Key offerings
• Exhibit 175: Stellantis NV – Segment focus

• 12.17 Toyota Motor Corp. 
• Exhibit 176: Toyota Motor Corp. – Overview
• Exhibit 177: Toyota Motor Corp. – Business segments
• Exhibit 178: Toyota Motor Corp. – Key offerings
• Exhibit 179: Toyota Motor Corp. – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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