Press release
Global Micro-Compact Cars Market to Witness a Pronounce Growth During 2024– Top Key players like Daimler AG,Groupe PSA,Renault S.A.,Inc.
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A microcar is the smallest automobile classification, usually applied to very small cars (smaller than city cars). Such small cars were generally referred to as cyclecars until the 1940s. More recent models are also called bubble cars due to their bubble-shaped appearance.
Over the last few years, as growing environmental concern, increasing fuel price as well as traffic congestion globally, the emphasis on improving transportation facilities began to gather more attention. Thus, automobile manufacturers are breaking their dependency on heavier car models and managing to develop comfortable, affordable, low carbon emissions as well as fuel consumption small vehicles such as microcars. Thus, these tiny cars are finding appeal among consumers offered as an alternative to combat road traffic congestion. Moreover, as the companies are introducing new models, the microcars are gaining more popularity and competitiveness in the market. In many developing countries such as India, microcars are used as public transportation. In the U.S., people who own three-wheel microcars are benefiting from safety regulations as these microcars are categorized as motorcycles. The primary benefits to owning microcars include taxes, insurance credits as well as special parking are the factors which as boost the microcars market in the near future.
The global Micro-Compact Cars market was 2550 million US$ in 2017 and is expected to 3170 million US$ by the end of 2025, growing at a CAGR of 2.8% between 2018 and 2025.
Market Segment by Manufacturers, this report covers
Daimler AG
Mahindra Electric Mobility Limited
Nissan Motor Co., Ltd.
Groupe PSA
Piaggio & C. Spa
Renault S.A.
Suzuki Motor Corporation
Tata Motors Limited
Toyota Motor Corporation
Daihatsu Motor Co., Ltd.
Market Segment by Type, covers
Electric
Petrol
Diesel
Hybrid
Market Segment by Applications, can be divided into
Passenger
Utility
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Related Information:
North America Micro-Compact Cars Market Growth 2019-2024
United States Micro-Compact Cars Market Growth 2019-2024
Asia-Pacific Micro-Compact Cars Market Growth 2019-2024
Europe Micro-Compact Cars Market Growth 2019-2024
EMEA Micro-Compact Cars Market Growth 2019-2024
Global Micro-Compact Cars Market Growth 2019-2024
China Micro-Compact Cars Market Growth 2019-2024
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