Automakers will have to deal with the new mobility fleet operators as customers. Coronavirus devastating effect on Global Automotive Market: The coronavirus (Covid-19) pandemic has induced a decade of expansion in the global automotive industry to an abrupt standstill, with sales plummeting in most markets. The global automotive sensors market is expected to reach $12.79 billion by 2030, with a CAGR of 5.47% during the forecast period 2021-2030. Asia Pacific & Oceania Global Automotive Volume, 8.1 Electric Vehicle Figure-07: Europe Automotive Volume (Million Units), 2017 2020 On this trajectory, one out of three new cars sold could potentially be a shared vehicle as soon as 2050. Table-18: PHEV Forecast for Global Automotive Category by Region Volume Share (Percent), 2021 2030 As shared mobility solutions with shorter life cycles will become more common, consumers will be constantly aware of technological advances, which will further increase demand for upgradability in privately used cars as well. We think that in Germany and the United States spending on car-based individual mobility services will double by 2040, while in China it could triple. Figure-52: Europe Forecast for NGV Volume (Thousand Units), 2021 2030 11.4 Mild Hybrid Vehicle Probably the most important trend in the automotive industry is the worldwide shift to electric vehicles (EVs). The automotive industry needs strategies for managing and monetizing big data. Electronic systems and mobile communications in particular will enable drivers to spend less time driving while in their cars and more time doing other things. The automotive industry, an essential economic criterion, is on the verge of new technologies and innovations. 10.4 Mild Hybrid Vehicle In the future, cars are expected to be connected with each other and the transport infrastructure. Diverging markets will open opportunities for new players, which will initially focus on a few selected steps along the value chain and target only specific, economically attractive market segmentsand then expand from there. 6.4.4 Mild Hybrid Vehicle Figure-21: Americas FCEV Volume (Thousand Units), 2017 2020 This drop will be largely driven by macroeconomic factors and the rise of new mobility services such as car sharing and e-hailing. THREE - THE STRUCTURE OF THE AUTOMOTIVE INDUSTRY IN 2030 Technology advances and increasingly varied demand will mean that automakers themselves develop less and less of what they produce. Here are the key insights presented in the study. Car manufacturers must further differentiate their products/services and change their value proposition from traditional car sales and maintenance to integrated mobility services. Fully autonomous vehicles are unlikely to be commercially available before 2020. Figure-44: Europe Forecast for EV Volume (Thousand Units), 2021 2030 The website uses cookies for analytics, advertising and to make user experience more personal and convenient. Figure-78: Toyota Motor Corporation Forecast for Global Revenue (Billion US$), 2021 2030 The automotive revenue pool will significantly increase and diversify toward on-demand mobility services and data-driven services. The market was valued at $1.6 billion in 2019 and has the potential to reach $4.4 billion by the end of forecast period 2030. Description. Second, connected systems mean that humans play a diminishing role in actually driving cars, as autonomous vehicles navigate roads, reducing accidents and freeing up peoples time by converting them from drivers into passengers. Many more new players are likely to enter the market, especially cash-rich high-tech companies and start-ups. Car-sharing isnt a new thing. Digitization, increasing automation, and new business models have revolutionized other industries, and automotive will be no exception. We also expect hyper-efficient mega-factories to emerge. Europe Figure-55: Europe Diesel Vehicle Volume (Thousand Units), 2017 2020 The energy used to charge the driving vehicles will come from renewable sources. Automotive Software Market Research Report: By Software, Function, Vehicle Type - Global Industry Analysis and Growth Forecast to 2030. The concept is expected to become sustainable together with the introduction of self-driving vehicles. Moreover, customers' unique and costly features demand is leading the automotive industry in the modern era. Global Automotive Airbag Textile Market Segmentation: These leaders will supply automakers, which will find it more economical to buy in these specialist technologies than to develop them in-house, THREE THE STRUCTURE OF THE AUTOMOTIVE INDUSTRY IN 2030. Based on usage behavior modelling, it can help to estimate individual mileage and, as a result, the overall car mileage in a particular market. While other industries, such as telecommunications or mobile phones/handsets, have already been disrupted, the automotive industry has seen very little change and consolidation so far. 8.5 Natural Gas Vehicle From today's viewpoint, combustion engine-based powertrains will remain dominant, at least for the coming decade. Meanwhile, consumer confidence, low interest rates and good job figures have led to a strong demand for durable goods including light vehicles. $205 Million Market Size 4.5% CAGR Europe Dominating Region 2022-2030 Forecast Period Segmentation By Type Ac Bdc By Motor Type Pmsm Dc Brushless Ac Induction By EV Type Bev Hev Phev These companies offer an extensive variety of automotive, fulfilling all significant functions in a vehicle. Global Automotive Market has been covered from 4 viewpoints: Americas - Automotive Volume has been covered from 8 viewpoints: Asia Pacific & Oceania - Automotive Volume has been covered from 8 viewpoints: Europe - Automotive Volume has been covered from 8 viewpoints: Middle East & Africa - Automotive Volume has been covered from 8 viewpoints: Company Insights - Overview, Recent Development & Strategies, Financial Insights: For more information about this report visit https://www.researchandmarkets.com/r/i5dvrd, ResearchAndMarkets.com In all these areas, automakers will have to build up competence in technologies where other industries have already set the standards. In the future, they may want the flexibility to choose the best solution for a specific purpose, on demand and via their smartphones. 5.3 Europe A paradigm shift to mobility as a service, along with new entrants, will inevitably force traditional car manufacturers to compete on multiple fronts. Global Light Vehicle sales grew once again in year-on-year (YoY) terms, up 5.0% for March. 9.6 Fuel Cell Electric Vehicle DUBLIN, Oct. 17, 2022 /PRNewswire/ -- The "Automotive Energy Recovery System Market By Vehicle Type, By Product Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been . The market is projected to grow to . Globally, today consumers use all-purpose vehicles, whether they are commuting alone to work or taking the whole family to the beach. 6.2.3 Europe Financial Insights, 1. Industry Segmentation of Global Automotive Heat Shield Market: . Quick forecasts. The Russia-Ukraine war disrupted . There is an incentive for the technology firms too, many of which are startups: To get their technology to market, they will need strong relationships with automotive industry players. Figure-68: Middle East & Africa Forecast for NGV Volume (Thousand Units), 2021 2030 Figure-22: Americas Forecast for FCEV Volume (Thousand Units), 2021 2030 The industry's principal categories include EV, HEV, PHEV, MHEV, NGV, FCEV, Diesel and Petrol. But the industry is about to be transformed by multiplerevolutions from drivetrains that power vehicles to digitally connected ecosystems, which arereinventing driving and the customer experience. Figure-38: Asia Pacific & Oceania Forecast for FCEV Volume (Thousand Units), 2021 2030 , it can help to estimate individual mileage and, as a result, the overall car mileage in a particular market. Americas The developments in engine technology are progressing significantly, accompanying the rising emission standards across the globe. Americas Global Automotive Volume, 7.1 Electric Vehicle [1] https://www.statista.com/topics/1487/automotive-industry/. In China, by contrast, the proliferation of shared and autonomous mobility could happen faster than in the Western world. European number one in cybersecurity, cloud and high performance computing, the Group provides tailored end-to-end solutions for all industries in 71 countries. Table-17: PHEV Global Automotive Category by Region Volume Share (Percent), 2017 2020 Recent Development & Strategies Middle East & Africa Global Automotive Volume, 10.1 Electric Vehicle The global automotive market is dominated by major players such as Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company. 6.4.2 Hybrid Electric Vehicle Cars will be annually updated to integrate the newest hardware and software. Sanctions and investment restrictions may even force third-party countries to choose between the two rivals. Report On Global Automotive Aluminum Market Size | Product, Key Players | Worth US$ 90.7 Billion, by 2030 at 8.9% CAGR - Exclusive Report by R&I| Table-09: Middle East & Africa Automotive Region by Categories Volume Share (Percent), 2017 2020 They are certainly not deterministic in nature but should help industry players better prepare for the uncertainty by discussing potential future states. Moreover, there will remain a solid core of automobile connoisseurs, especially in the countryside but also among wealthy city dwellers. 12.1.3 Financial Insights, 12.2.1 Overview Feb 8, 2018 6 min Global Automotive Industry: Key Forecasts for 2030 The United States became the major car market in the beginning of the '90s, when Ford launched its Model T mass-manufacture. Overall global car sales will continue to grow, but the annual growth rate is expected to drop from the 3.6 percent over the last five years to around 2 percent by 2030. Fleet operators will be better negotiators than individuals, and they will demand tailored products, as well as favorable conditions and pricing. A complete ban on sales of new cars with internal combustion engines could turn some markets almost 100 percent electric. Feel free to get in touch with us! However, the stakes are higher than they used to be, and the coming upheavals will be on a much greater scale. PwC automotive industry experts defined trends that will drive the transformation of the sector and made suggestions on how companies could leverage them for their future success. Figure-76: Volkswagen Forecast for Global Revenue (Billion US$), 2021 2030 These changes will shake up the structures and systems on which the auto industry is based. Further on, as cars are increasingly integrated into the connected world, automakers will have no choice but to participate in the new mobility ecosystems that emerge as a result of technological and consumer trends. Also, consumers' new habit of using tailored solutions for each purpose will lead to specialized vehicles designed for particular necessities. Table-05: Asia Pacific & Oceania Automotive Region by Categories Volume Share (Percent), 2017 2020 Research Methodology 5.2 Asia Pacific & Oceania Porter's five forces analysis illustrates the potency of the buyers and. Subscribed to {PRACTICE_NAME} email alerts. Table-16: HEV Forecast for Global Automotive Category by Region Volume Share (Percent), 2021 2030 10.7 Diesel Vehicle This usage pattern could drive demand for frugal vehicle concepts that are suited for multiple users a bit like the aircraft interior of a discount airline. 8.3 Plug-in Hybrid Electric Vehicle Relevant 'Autonomous Vehicles: The Mobility Of Tomorrow'. Concurrently, they expect a worldwide shift in the percentage of the population with more modern attitude towards mobility innovations. Figure-28: Asia Pacific & Oceania Forecast for EV Volume (Thousand Units), 2021 2030 Others will be put off buying a car because of urbanization: Driving in cities involves extra costs such as parking and is generally no longer a pleasure; many people simply want to get around with as little hassle as possible. Figure-57: Europe Petrol Vehicle Volume (Thousand Units), 2017 2020 Globally, the aftermarket is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region from 2020 to 2030. Figure-51: Europe NGV Volume (Thousand Units), 2017 2020 8.6 Fuel Cell Electric Vehicle Across those segments, consumer preferences, policy and regulation, and the availability and price of new business models will strongly diverge. What will shape the future automotive sector? Renub Research latest report titled Automotive Market, Global Forecast By Americas (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Asia Pacific & Oceania (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Europe (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Middle East & Africa (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Company (Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company)" provides a detailed analysis of Global Automotive Market. Table-24: FCEV Forecast for Global Automotive Category by Region Volume Share (Percent), 2021 2030