Market Overview:
The global passenger vehicle market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles across the globe. In terms of type, the market is segmented into five people, five-nine people, and 10 or more people segments. The five-nine people segment is expected to grow at a CAGR of 6% during the forecast period from 2018 to 2030. This growth can be attributed to rising demand for mini vans and SUVs in developing countries such as India and China. In terms of application, the passenger car segment dominates the global passenger vehicle market with a share of more than 60%.
Product Definition:
A passenger vehicle is a motor vehicle whose primary purpose is to transport people. This includes cars, vans, buses and other such vehicles. Passenger vehicles are used extensively all over the world for personal transportation as well as public transportation. They are also used for commercial purposes such as carrying goods or passengers.
5 People:
5 People is the total number of passengers that can be accommodated in a vehicle. It is used to calculate the capacity of vehicles such as cars, vans, trucks, buses and others. 5 People being a key factor in passenger car market growth factors; it directly affects the demand for Passenger Cars and its parts & accessories industry.
5-9 People:
5-9 people is the seating capacity of a passenger vehicle. It is also known as five nine seat or five nine bench seat. The number refers to the total number of seats in a vehicle including the driver's seat and front passenger seats. In most cases, an adult male can easily fit in a driver's chair and two passenger chairs at his sides; however, there might not be enough space for four passengers due to lack of legroom.
Application Insights:
Passenger car accounted for a share of over 60.0% in 2017 and is expected to maintain its dominance over the forecast period. The growing importance of passenger cars in developed economies such as Germany, France and U.K., on account of high ownership rates is expected to drive the demand for larger vehicles, thereby supporting segment growth during the forecast period.
The commercial vehicle segment was valued at USD 17,946 million in 2017 owing to their use in logistics activities such as transporting goods from warehouses to stores or between manufacturing units across countries or within cities which are predominantly urban areas.
Regional Analysis:
The Asia Pacific passenger vehicle market is anticipated to witness significant growth over the forecast period owing to increasing demand for passenger cars from developing countries such as India, China, and Indonesia. Furthermore, rising disposable income in these countries will boost the demand for premium cars. The Middle East & Africa is expected to be one of the fastest-growing regions with a CAGR of XX% from 2018 to 2030 owing to high product penetration and increasing consumer disposable income levels in this region.
North America was estimated as the second-largest regional segment by volume in 2017 due to high sales volumes of large vehicles (10+ seaters) across U.S.
Growth Factors:
- Increasing disposable income of the middle-class population in developing countries is expected to boost the demand for passenger vehicles.
- Proliferation of ride-sharing and carpooling services is anticipated to fuel the growth of the passenger vehicle market.
- Introduction of stringent emission norms by various governments across the globe is projected to propel the demand for advanced and environment-friendly passenger vehicles.
- Growing popularity of luxury and sports cars among consumers is estimated to stimulate the growth of this market during forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Market Research Report
By Type
5 People, 5-9 People
By Application
Passenger Car, Commercial Vehicle
By Companies
Ford Motor Company, General Motors, Honda Motor, Hyundai Motor, Toyota Motor, Volkswagen, Ford Motor Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Market Report Segments:
The global Passenger Vehicle market is segmented on the basis of:
Types
5 People, 5-9 People
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ford Motor Company
- General Motors
- Honda Motor
- Hyundai Motor
- Toyota Motor
- Volkswagen
- Ford Motor Company
Highlights of The Passenger Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 5 People
- 5-9 People
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Passenger Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A passenger vehicle is a car or truck that is designed for carrying passengers, either individually or in groups.
Some of the key players operating in the passenger vehicle market are Ford Motor Company, General Motors, Honda Motor, Hyundai Motor, Toyota Motor, Volkswagen, Ford Motor Company.
The passenger vehicle market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Passenger Vehicle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Passenger Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Vehicle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Passenger Vehicle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Passenger Vehicle Market Size & Forecast, 2018-2028
4.5.1 Passenger Vehicle Market Size and Y-o-Y Growth
4.5.2 Passenger Vehicle Market Absolute $ Opportunity
Chapter 5 Global Passenger Vehicle Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Passenger Vehicle Market Size Forecast by Type
5.2.1 5 People
5.2.2 5-9 People
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Vehicle Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Passenger Vehicle Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Passenger Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Passenger Vehicle Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Vehicle Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Passenger Vehicle Market Size Forecast by Type
9.6.1 5 People
9.6.2 5-9 People
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Passenger Vehicle Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Passenger Vehicle Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Vehicle Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Passenger Vehicle Market Size Forecast by Type
10.6.1 5 People
10.6.2 5-9 People
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Passenger Vehicle Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Passenger Vehicle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Vehicle Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Passenger Vehicle Market Size Forecast by Type
11.6.1 5 People
11.6.2 5-9 People
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Passenger Vehicle Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Passenger Vehicle Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Vehicle Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Passenger Vehicle Market Size Forecast by Type
12.6.1 5 People
12.6.2 5-9 People
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Passenger Vehicle Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Passenger Vehicle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Vehicle Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Passenger Vehicle Market Size Forecast by Type
13.6.1 5 People
13.6.2 5-9 People
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Passenger Vehicle Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Passenger Vehicle Market: Competitive Dashboard
14.2 Global Passenger Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ford Motor Company
14.3.2 General Motors
14.3.3 Honda Motor
14.3.4 Hyundai Motor
14.3.5 Toyota Motor
14.3.6 Volkswagen
14.3.7 Ford Motor Company
