EXECUTIVE ENGAGEMENTS BY TIER
HIGHLIGHTS & REPORT INDEX
Global Passenger Cars Market to Reach 65.0 Million Units by 2030
The global market for Passenger Cars estimated at 49.8 Million Units in the year 2023, is expected to reach 65.0 Million Units by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030.
The U.S. Market is Estimated at 13.5 Million Units While China is Forecast to Grow at 6.5% CAGR
The Passenger Cars market in the U.S. is estimated at 13.5 Million Units in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 13.3 Million Units by the year 2030 trailing a CAGR of 6.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Passenger Cars - Key Trends and Drivers
The passenger car market is undergoing significant transformations driven by changes in consumer preferences, technological advancements, and regulatory pressures. Innovations such as electric powertrains, autonomous driving capabilities, and enhanced connectivity options are reshaping the automotive industry, with electric vehicles (EVs) rapidly gaining traction due to environmental benefits and global emissions reduction efforts. The market is poised for growth influenced by technological advancements, regulatory changes, and shifts in consumer expectations, with trends like electrification, autonomous technology, and increased digital connectivity expected to dominate the industry`s development.
Changing consumer preferences, including a demand for technology integration and environmental impact considerations, are driving the automotive market`s evolution. There is a rise in shared and autonomous mobility solutions, with car-sharing and ride-sharing services gaining popularity, and autonomous driving technology advancing rapidly. Electrification is a dominant trend, with major automakers investing heavily in electric vehicle development, supported by the expansion of charging infrastructure and governmental incentives. Additionally, cars are becoming more connected and integrated into digital lifestyles, with features like advanced driver-assistance systems (ADAS) and fully digital dashboards enhancing the driving experience.
Alternative fuels such as e-fuels, synthesized from CO2 and renewable energy sources, are gaining attention alongside electrification efforts. Moreover, additive manufacturing or 3D printing is revolutionizing automotive production by enabling the creation of complex, lightweight vehicle parts quickly and cost-effectively. These trends reflect a broader shift towards sustainability, safety, and enhanced user experience in mobility solutions, with governments worldwide implementing stricter emissions regulations to combat climate change.
SCOPE OF STUDY
The report analyzes the Passenger Cars market by the following Segments, and Geographic Regions/Countries:
Segments:
Segment (Passenger Cars).
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa..
SELECT PLAYERS
Adam Opel AG; American Honda Motor Co., Inc.; Audi AG; Bayerische Motoren Werke AG (BMW GROUP); Beijing Automotive Group Co., Ltd.; Cadillac; Daihatsu Motor Co., Ltd.; Daimler AG; Dongfeng Motor Corporation; Dr. Ing. HCF Porsche AG; Ferrari SpA; General Motors Company; Haima Automobile International Corporation; Hindustan Motors Ltd.; Honda Motor Co., Ltd.; Hyundai Motor Company; Infiniti Motor Company Ltd.; Kia Motors Corporation; Mahindra & Mahindra Ltd.; Maruti Suzuki India Ltd.; Mazda Motor Corporation; Mitsubishi Motors Corporation; Nissan Motor Co., Ltd.; PSA Peugeot Citroen; Renault Group; Tata Motors Ltd.; Toyota Motor Corporation; Volkswagen AG; Volvo Car Corporation
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
Passenger Cars – Global Key Competitors Percentage Market Share in 2024 (E) |
Competitive Market Presence - Strong/Active/Niche/Trivial for 56 Players Worldwide in 2024 (E) |
Global Economic Update |
2. FOCUS ON SELECT PLAYERS |
3. MARKET TRENDS & DRIVERS |
Rising Demand for Electric Vehicles Propels Growth in Passenger Car Market |
Technological Advancements Drive Adoption of Autonomous Driving Features |
Sustainability Trends Strengthen Business Case for Hybrid Passenger Cars |
Increasing Urbanization Expands Addressable Market Opportunity for Compact Cars |
Government Incentives for EVs: Here’s How They Influence Market Dynamics |
Innovations in Battery Technology Accelerate Demand for Long-Range Electric Cars |
Growing Consumer Preference for SUVs Spurs Market Growth |
Advancements in Connected Car Technology Drive Adoption of Smart Vehicles |
Focus on Passenger Safety Throws the Spotlight on Advanced Driver Assistance Systems (ADAS) |
Expanding Ride-Sharing Services Generates Demand for Efficient Passenger Cars |
Development of Fuel-Efficient Engines Strengthens Business Case for Eco-Friendly Cars |
Focus on In-Car Entertainment Systems Drives Adoption of High-Tech Passenger Cars |
Growing Popularity of Car Leasing and Subscription Models Impacts Market Dynamics |
Rising Awareness of Car Safety Ratings Generates Demand for 5-Star Rated Vehicles |
Integration of Artificial Intelligence in Vehicles Throws the Spotlight on Smart Mobility |
Adoption of Lightweight Materials in Car Manufacturing Strengthens Business Case for Fuel Efficiency |
Focus on Luxury and Comfort Generates Demand for High-End Passenger Cars |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR |
World Historic Review for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
World 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030 |
World Passenger Cars Market Analysis of Annual Sales in Units for Years 2014 through 2030 |
III. MARKET ANALYSIS |
UNITED STATES |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E) |
USA Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
USA Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
CANADA |
Canada Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Canada Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
JAPAN |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E) |
Japan Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Japan Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
CHINA |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E) |
China Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
China Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
EUROPE |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E) |
Europe Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR |
Europe Historic Review for Passenger Cars by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
Europe 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2024 & 2030 |
FRANCE |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E) |
France Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
France Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
GERMANY |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E) |
Germany Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Germany Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
ITALY |
Italy Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Italy Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
UNITED KINGDOM |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E) |
UK Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
UK Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
SPAIN |
Spain Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Spain Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
RUSSIA |
Russia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Russia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Rest of Europe Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
ASIA-PACIFIC |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E) |
Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR |
Asia-Pacific Historic Review for Passenger Cars by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
Asia-Pacific 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2024 & 2030 |
AUSTRALIA |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E) |
Australia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Australia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
INDIA |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E) |
India Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
India Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
SOUTH KOREA |
South Korea Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
South Korea Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
REST OF ASIA-PACIFIC |
Rest of Asia-Pacific Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Rest of Asia-Pacific Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
LATIN AMERICA |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E) |
Latin America Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR |
Latin America Historic Review for Passenger Cars by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
Latin America 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2014, 2024 & 2030 |
ARGENTINA |
Argentina Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Argentina Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
BRAZIL |
Brazil Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Brazil Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
MEXICO |
Mexico Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Mexico Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
REST OF LATIN AMERICA |
Rest of Latin America Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Rest of Latin America Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
MIDDLE EAST |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E) |
Middle East Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2023 through 2030 and % CAGR |
Middle East Historic Review for Passenger Cars by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
Middle East 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2014, 2024 & 2030 |
IRAN |
Iran Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Iran Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
ISRAEL |
Israel Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Israel Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
SAUDI ARABIA |
Saudi Arabia Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Saudi Arabia Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
UNITED ARAB EMIRATES |
UAE Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
UAE Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
REST OF MIDDLE EAST |
Rest of Middle East Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Rest of Middle East Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
AFRICA |
Passenger Cars Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E) |
Africa Recent Past, Current & Future Analysis for Passenger Cars by Segment - Passenger Cars - Independent Analysis of Annual Sales in Units for the Years 2023 through 2030 and % CAGR |
Africa Historic Review for Passenger Cars by Segment - Passenger Cars Markets - Independent Analysis of Annual Sales in Units for Years 2014 through 2022 and % CAGR |
IV. COMPETITION |
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