Press release
Automotive Market Size to Surge to US$ 7,705.52 Billion Achieving a Remarkable 6.8% CAGR by 2034
Automotive Market
Report Scope:
The report focuses on the latest developments, market share, revenue generated, leading companies in the industry, and regional analysis to give a comprehensive overview of the automotive market.
Download Free Sample PDF Copy of the Report:
https://www.polarismarketresearch.com/industry-analysis/automotive-market/request-for-sample
Market Introduction:
Automotives refer to vehicles designed for transportation, primarily powered by internal combustion engines or electric motors. This category includes cars, trucks, buses, motorcycles, and other motorized vehicles used for personal, commercial, and industrial purposes. The automotive industry encompasses vehicle design, manufacturing, sales, and maintenance, with major advancements in safety, fuel efficiency, and automation. Automotives play a crucial role in global economies, infrastructure, and daily life, facilitating movement, trade, and logistics while continuously innovating through emerging technologies like AI and IoT.
Growth Drivers and Opportunities:
• The growing investments in research and development (R&D) are driving market growth.
• Advancements in materials, powertrains, and digital connectivity are transforming automotive design and consequently fueling market expansion.
• The shift of the industry towards electrification to meet long-term sustainability objectives propels the growth of the automotive market.
• The increasing combination of advanced technology and connectivity is expected to drive the market demand for automobiles.
Request for a Discount on this Report Before Purchase:
https://www.polarismarketresearch.com/industry-analysis/automotive-market/request-for-discount-pricing
Key Players in Market:
The competitive environment consists of worldwide leaders and local competitors striving for market share through innovation, strategic partnerships, and regional growth. A few of such players are:
• BYD Company Ltd.
• General Motors
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Mercedes-Benz AG
• Nissan Motor Co., Ltd.
• SAIC Motor Corporation Limited
• Stellantis Europe S.p.A.
• Suzuki Motor Corporation
• Tesla
• TOYOTA MOTOR CORPORATION.
• Volkswagen Group
Recent Developments in the Automotive Industry
• October 2024: BMW Group and Tata Technologies announced the formation of BMW TechWorks India, a joint venture aimed at enhancing automotive software capabilities. The partnership focuses on advancing software-defined vehicles (SDVs) and driving innovations in business IT to shape future mobility solutions.
• February 2024: Volkswagen Group and Mahindra & Mahindra entered into a supply agreement for key components of Volkswagen's MEB platform, supporting the development of Mahindra's INGLO electric platform. This collaboration strengthens their e-mobility partnership and opens the door for exploring further joint opportunities.
Explore The Complete Comprehensive Report Here:
https://www.polarismarketresearch.com/industry-analysis/automotive-market
Regional Analysis:
• Asia Pacific dominated the global market in 2024, attributed to robust automotive production capabilities, increasing vehicle demand, and supportive government policies.
• North America is expected to experience the fastest growth during the forecast period due to increasing investments in electric vehicles, autonomous driving technologies, and digital mobility solutions.
Segmental Overview:
By Vehicle Type Outlook (Revenue, USD Billion, 2020-2034)
• Passenger Car
o Hatchback
o Sedan
o SUV
o MUV
• Commercial Vehicle
o LCVs
o Heavy Trucks
o Buses & Coaches
By Propulsion Type Outlook (Revenue, USD Billion, 2020-2034)
• ICE Vehicle
• Electric Vehicle
By Regional Outlook (Revenue, USD Billion, 2020-2034)
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Browse More Research Reports:
Automotive Gears Market:
https://www.polarismarketresearch.com/industry-analysis/automotive-gears-market
3 in 1 Electric Drive Module (eDrive Modules) Market:
https://www.polarismarketresearch.com/industry-analysis/3-in-1-electric-drive-module-market
Electric Vehicle Battery Coolant Market:
https://www.polarismarketresearch.com/industry-analysis/electric-vehicle-battery-coolant-market
Cold Chain Market:
https://www.polarismarketresearch.com/industry-analysis/cold-chain-market
Automotive Polymer Composites Market:
https://www.polarismarketresearch.com/industry-analysis/automotive-polymer-composites-market
Contact:
Likhil G
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Market Size to Surge to US$ 7,705.52 Billion Achieving a Remarkable 6.8% CAGR by 2034 here
News-ID: 3939887 • Views: …
More Releases from Polaris Market Research & Consulting
Granite Market Projected to Reach USD 6.63 Billion by 2034, Growing at a CAGR of …
Polaris Market Research has released new insights into the Granite market, highlighting key developments, evolving trends, and growth prospects across major regions and segments. The report delivers an in-depth analysis of market dynamics, competitive shifts, and strategic outlooks to support informed decision-making for businesses and investors.
Market at a Glance
In 2024, the market was valued at USD 3.99 billion and is anticipated to grow to USD 6.63 Billion by 2034. It…
Molecular Diagnostics for Sexually Transmitted Diseases Market to Reach USD 7.85 …
Polaris Market Research announces the release of its latest study on the Molecular Diagnostics For Sexually Transmitted Diseases market. It offers comprehensive insights into all the key market aspects, including industry trends, market dynamics, competitive landscape, and strategic developments. The report is designed to help stakeholders make strategic decisions in the rapidly evolving market landscape.
According to the findings, the market stood at 3.82 billion in 2024 and is expected to…
Higher Alpha Olefins Market Projected to Hit USD 20.01 Billion by 2034, Expandin …
Polaris Market Research announces the release of its latest study on the Higher Alpha Olefins market. It offers comprehensive insights into all the key market aspects, including industry trends, market dynamics, competitive landscape, and strategic developments. The report is designed to help stakeholders make strategic decisions in the rapidly evolving market landscape.
According to the findings, the market stood at 10.39 billion in 2024 and is expected to reach 20.01 billion…
Direct Oral Anticoagulants (DOACs) Device Market to Reach USD 64.83 Billion by 2 …
Polaris Market Research announces the release of its latest study on the Direct Oral Anticoagulants (DOACs) Device market. It offers comprehensive insights into all the key market aspects, including industry trends, market dynamics, competitive landscape, and strategic developments. The report is designed to help stakeholders make strategic decisions in the rapidly evolving market landscape.
According to the findings, the market stood at 31.67 billion in 2024 and is expected to reach…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…
