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Passenger Car Market 2023 : By Size, Share, Growth And Top Companies | Toyota Motor Corp, Volkswagen AG, Honda Motor Co Ltd., Ford Motor Co, EXOR Group

02-20-2023 04:54 AM CET | Logistics & Transport

Press release from: The Business research company

Passenger Car Market Research

Passenger Car Market Research

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per the passenger car market report by The Business Research Company, 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.

The global passenger car market grew from $1506.73 billion in 2022 to $1657.79 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger car market is expected to grow to $2372.13 billion in 2027 at a CAGR of 9.4%.

Read More On The Passenger Car Market Report Here:
https://www.thebusinessresearchcompany.com/report/passenger-car-global-market-report

Major competitors in the Passenger Car market include Toyota Motor Corp, Volkswagen AG, Honda Motor Co Ltd., Ford Motor Co, Fiat Chrysler Automobiles NV, Hyundai Motor Co Ltd., EXOR Group, Nissan Motor Co Ltd., Daimler AG, and SAIC Motor Co ltd.

The Passenger Car market is segmented -
By Type: Hatchback, Sedan, Utility Vehicle

By Fuel Type: Gasoline, Diesel, Other Fuel Types

By Engine Capacity:

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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

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