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. Figure-31: Asia Pacific & Oceania PHEV Volume (Thousand Units), 2017 2020 Figure-32: Asia Pacific & Oceania Forecast for PHEV Volume (Thousand Units), 2021 2030 Figure-18: Americas Forecast for MHEV Volume (Thousand Units), 2021 2030 Environmental considerations are the driving force behind electric vehicles, but these are a relatively minor factors in most car purchase decisions. 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. Battery Market by Transport was valued at US$ 86.24 Billion in 2021. Figure-51: Europe NGV Volume (Thousand Units), 2017 2020 These shifts will mean the industry needs a workforce with different skillsets from today. E-mail us atrequest@qulix.com, Oakwood Dunstan Lane, Burton, Neston, Cheshire, CH64 8TQ, United Kingdom, 2022 Qulix Systems. The market is projected to grow to . In the race to develop the car of the future, those that collaborate will win. Reshape the value proposition. Moreover, customers' unique and costly features demand is leading the automotive industry in the modern era. High government emphasis across varied . Figure-80: Daimler AG Forecast for Global Revenue (Billion US$), 2021 2030 PwC Autofacts assumes that personal mileage in Europe could rise by 23% to 5.88 trillion kilometers by 2030. Figure-58: Europe Forecast for Petrol Vehicle Volume (Thousand Units), 2021 2030 Asia Pacific & Oceania Feel free to get in touch with us! They will have far greater market power than traditional, individual customers, and they will put pressure on prices and margins. Figure-24: Americas Forecast for Diesel Vehicle Volume (Thousand Units), 2021 2030 5.2 Asia Pacific & Oceania Fully autonomous vehicles are unlikely to be commercially available before 2020. The MHEVs represent a technological leap in the automotive market - vehicles solely based on a combustion engine. As populations age, a growing number of people will just need ways to stay mobile in some cases because they can no longer drive themselves and they will not care whether they get around by way of traditional driving. Here are three major trends that will dominate the products and solutions of the new era. These consumers love cars and driving and will hold out against anything from battery power to ride hailing that diverges from the traditional experience, so long as this remains legally possible. To succeed, automotive manufacturers, suppliers, and service providers need to form alliances or participate in ecosystemsfor example, around infrastructure for autonomous and electrified vehicles. In particular, the development of fully autonomous driving will be too expensive for a single automaker to do by itself. Globally, today consumers use all-purpose vehicles, whether they are commuting alone to work or taking the whole family to the beach. Globally, today's consumers use all-purpose vehicles, whether they are commuting alone to work or taking the whole family to the beach. Traditional automotive players that are under continuous pressure to reduce costs, improve fuel efficiency, reduce emissions, and become more capital-efficient will feel the squeeze, likely leading to shifting market positions in the evolving automotive and mobility industries, potentially leading to consolidation or new forms of partnerships among incumbent players. The electrification of the drive train will make it possible. 6.4 Automotive Category by Regions, 6.4.1 Electric Vehicle There will be three or four global specialists in each of the major technologies the industry depends on, such as electric powertrains, vehicle connectivity systems, and autonomous-driving hardware and software. The world dominance of the automotive industry, as well as the revenue growth of SUVs, are expected to propel the prices of automotive glass. 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. Atos is a global leader in digital transformation with 107,000 employees and annual revenue of over 11 billion. Americas Table-21: NGV Global Automotive Category by Region Volume Share (Percent), 2017 2020 In the future, they may want the flexibility to choose the best solution for a specific purpose, on demand and via their smartphones. 7.6 Fuel Cell Electric Vehicle The report has covered the regional analysis for the Americas, Asia Pacific & Oceania, Europe and Middle East & Africa. As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030. Automotive revolution perspective towards 2030. Globally the automobile industry is supported by various factors such as the availability of skilled labour at low cost, robust R&D centres, and low-cost steel production. Add-on Modules. However, the industrys primary focus should be on its customers and the products it makes for them. Consumers today use their cars as all-purpose vehicles, whether they are commuting alone to work or taking the whole family to the beach. Figure-57: Europe Petrol Vehicle Volume (Thousand Units), 2017 2020 Figure-72: Middle East & Africa Forecast for Diesel Vehicle Volume (Thousand Units), 2021 2030 And they will generate demand for new options, such as parking assistants and massage seats. (Million USD) and Growth Rate (%) Forecast (2022-2030) 10.3 Global Automotive Surround View Systems Forecast by Regions 10.3.1 North America Automotive . 6.2.3 Europe These forces are giving rise to four disruptive technology-driven trends in the automotive sector: diverse mobility, autonomous driving, electrification, and connectivity. Digitization, increasing automation, and new business models have revolutionized other industries, and automotive will be no exception. Success in 2030 will require automotive players to shift to a continuous process of anticipating new market trends, exploring alternatives and complements to the traditional business model, and exploring new mobility business models and their economic and consumer viability. PwC forecasts that 40% of the mileage driven in Europe could be covered by autonomous vehicles in 2030. Figure-74: Middle East & Africa Forecast for Petrol Vehicle Volume (Thousand Units), 2021 2030 A progressive scenario would see fully autonomous cars accounting for up to 15 percent of passenger vehicles sold worldwide in 2030 (Exhibit 2). Figure-07: Europe Automotive Volume (Million Units), 2017 2020 4. 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. In fact, self-driving and shared cars will be replaced more frequently, which will lead to the sales volume increase. With established markets slowing in growth, however, growth will continue to rely on emerging economies, particularly China, while product-mix differences will explain different development of revenues. Figure-54: Europe Forecast for FCEV Volume (Thousand Units), 2021 2030 Hybrid Electric Vehicle Individuals increasingly use multiple modes of transportation to complete their journey; goods and services are delivered to rather than fetched by consumers. 8.5 Natural Gas Vehicle The major drivers of growth for this market are increasing number of connected cars, rising electrical & electronics design complexity in cars, increasing demand of . Market Segmentation Automotive Aftermarket Overview The automotive aftermarket value was $803.22 billion in 2019, and the market is predicted to register a CAGR of 5.07% between 2020 and 2030. At one extreme, vehicles used in mobility services will have a large number of different users, perhaps more than 100 per year. Get the latest business insights from Dun & Bradstreet. The global automotive interior materials market was valued at $55 billion in 2020 and is projected to reach $80.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030. Figure-45: Europe HEV Volume (Thousand Units), 2017 2020 The global Automotive Exhaust Hanger market also provides a thorough analysis of cutting-edge . Moreover, customers' unique and costly features demand is leading the automotive industry in the modern era. However, the spread of autonomous cars technology will lower the accident rate, and, as a result, decrease their maintenance and repair costs, so the cars will stay longer in use. Statement for COVID-19 banner: The COVID-19 pandemic has negatively impacted the Global Automotive Adhesives market. Industry Trends By Category, Growth, Insight, Impact of COVID-19, Company Analysis, Forecast 2021-2030. Aerostat Systems Market is projected to reach US$ 21.26 Billion by 2027. Figure-70: Middle East & Africa Forecast for FCEV Volume (Thousand Units), 2021 2030 These changes will shake up the structures and systems on which the auto industry is based. January 2017. Mobility providers (Uber, for example), tech giants (such as Apple, Google), and specialty OEMs (Tesla, for instance) increase the complexity of the competitive landscape. Table-22: NGV Forecast for Global Automotive Category by Region Volume Share (Percent), 2021 2030 To ensure the most secure and best overall experience on our website, we recommend the latest versions of, "Global Automotive Market, Growth & Forecast, Impact of Coronavirus, Industry Trends, By Region, Opportunity Company Analysis", https://www.researchandmarkets.com/r/i5dvrd. 6.4.6 Fuel Cell Electric Vehicle To get ahead of the inevitable disruption, incumbent players need to implement a four-pronged strategic approach: Prepare for uncertainty. Customers, cars, the industry all will look different. According to the report, the Global Automotive Market consisted of 85.32 million units in 2020, and is expected to reach 122.83 million units by 2030. Copyright 2010 - 2022 Renub Research - All Rights Reserved, The automotive industry is an essential economic criterion, is on the verge of new technologies and innovations. 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. . A paradigm shift to mobility as a service, along with new entrants, will inevitably force traditional car manufacturers to compete on multiple fronts. For instance, the market for a car mainly built for e-hailing servicesthat is, a car designed for high utilization, robustness, additional mileage, and passenger comfortwould already be millions of units today, and this is just the beginning. Figure-62: Middle East & Africa Forecast for HEV Volume (Thousand Units), 2021 2030 Figure-79: Daimler AG Global Revenue (Billion US$), 2017 2020 For instance, the market for a car mainly built for e-hailing services - that is, a car designed for high utilization, robustness, additional mileage, and passenger comfort - would already be millions of units today, and this is just the beginning. As a result, there have been more job cuts beyond the sector, with plants and suppliers shutting down in countries where the markets are slowest to recover. Besides, the improvement of mobility safety and its costs reduction will push general mobility trends into the direction of individual mobility. The industry is expected to grow at a CAGR of 3.71% from 2020- 2030. The analysis highlights influencing factors that impact or help the market requirements, such as Government policies, technical transformations, etc . Americas Global Automotive Volume has been covered from 8 viewpoints: 1. Figure-67: Middle East & Africa NGV Volume (Thousand Units), 2017 2020 2. The market is estimated at XX million by 2030, growing at a CAGR of XX%.Global Automotive Software Market Research Forecast Study to 2030 offers an exhaustive strategic keywords assessment. Moreover, the total number of traditional jobs required in the industry will be reduced as technologies become less hardwaredriven and more standardized. Todays economies are dramatically changing, triggered by development in emerging markets, the accelerated rise of new technologies, sustainability policies, and changing consumer preferences around ownership. The investments in product range will clearly fall. Technology shifts can also be expected in safety, with progress in braking, steering, crash protection, and advanced driver-assistance systems. What will shape the future automotive sector? 12.1.2 Recent Development & Strategies 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. 8.8 Petrol Vehicle, 9.1 Electric Vehicle Americas Global Automotive Volume, 7.1 Electric Vehicle Table-27: Petrol Global Automotive Category by Region Volume Share (Percent), 2017 2020 Connected cars and self-driving vehicles are expected to fully transform the automotive industry.[1]. Figure-78: Toyota Motor Corporation Forecast for Global Revenue (Billion US$), 2021 2030 Third, a greater focus by customers on mobility and reduced emphasis on ownership will change the way cars are used, especially in big cities. These companies offer an extensive variety of automotive, fulfilling all significant functions in a vehicle. 12.2.2 Recent Development & Strategies In Union Budget 2021-22, the government introduced the voluntary vehicle scrappage policy, expected to advance the market for new vehicles after lifting old unfit vehicles currently plying on the Indian roads. COVID-19's Devastating Effect on the Global Automotive Market. Though the driver of the past might have chosen a model that can fulfill each of these needs, the car user of the future will seek the best solution for each task. The successful industry participants will increasingly be those that master particular skills or specialize in specific areas of technology. As per this research report, Worldwide Automotive Market was valued at. 3. Figure-38: Asia Pacific & Oceania Forecast for FCEV Volume (Thousand Units), 2021 2030 According to Renub Research, Global Automotive Market is expected to reach 122.83 Million Units by 2030. Laura Wood, Senior Press Manager (We can also provide the editable version of the report in PPT/Word format on request), 6.1 Region Wise Automotive Vehicle Types, Information Technology, Telecom & Internet, United States Autonomous Vehicles Market, Size, Forecast 2021-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Autonomous Vehicles Market, Size, Global Forecast 2022-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Battery Market by Transport, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis, China Automobile Market, Size, Forecast 2021-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Aerostat Systems Market, Growth & Forecast, COVID-19 Impact, Industry Trends, By Product, Application, Opportunity Company Analysis, Global Radiology Information System Market is expected to reach US$ 1,388.5 Million by 2027 due to increasing number of cancer cases, France Toys Market to Reach USD 4.60 Billion by 2027, as Toys Play a Vital Role in Growth of Children Development, Global Electric Wheelchair Market is expected to expand at a CAGR of 9.8% during 2022 - 2027, due to Unprecedented Increase in the Geriatric Population, Europe Fertilizer Market to Reach US$ 8.4 Billion by 2027, Propelled by Awareness about Using Organic Fertilizers on Human Health and Soil Quality. Figure-34: Asia Pacific & Oceania Forecast for MHEV Volume (Thousand Units), 2021 2030 The growing technological advantage in AI, machine learning, and deep neural networks will finally allow implementing the concept of autonomous vehicles. Also, consumers' new habit of using tailored solutions for each purpose will lead to specialized vehicles designed for particular necessities. Paul Gao is a director in McKinseys Hong Kong office, Hans-Werner Kaas is a director in the Detroit office, Detlev Mohr is a director in the Stuttgart office, and Dominik Wee is a principal in the Munich office. The decrease in demand for many non-essential products and shut . Table-28: Petrol Forecast for Global Automotive Category by Region Volume Share (Percent), 2021 2030. The global automotive engine market size was worth USD 94.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030. The global automotive adhesives market size was valued at $4.7 billion in 2020, and projected to reach $8.4 billion by 2030, with a CAGR of 5.9% from 2021 to 2030. Global sales of automobiles are forecast to fall to just under 70 million units in 2021, down from a peak of almost 80 million units in 2017. 9.6 Fuel Cell Electric Vehicle 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. In the future, cars are expected to be connected with each other and the transport infrastructure. 3. The Automotive Exhaust Hanger research does a complete market analysis to find the major suppliers by integrating all relevant products and services in order to understand the roles of the top industry players in the Automotive Exhaust Hanger segment. They are certainly not deterministic in nature but should help industry players better prepare for the uncertainty by discussing potential future states. By Vehicle Type - Global Automotive Volume, 11.1 Electric Vehicle Car-sharing isnt a new thing. The global automotive Simulation market is expected to grow by exponential growth rate of 9.6% over the forecast period from 2020 to 2030. Furthermore, MHEVs are also bringing higher efficiency and lower running costs to combustion engines and could therefore provide promising opportunities for OEMs, suppliers, and customers until electric powertrains become ubiquitous. 10.3 Plug-in Hybrid Electric Vehicle Through continuous improvements in battery technology and cost, those local differences will become less pronounced, and electrified vehicles are expected to gain more and more market share from conventional vehicles. Some people will cease to own a car due to the expense, as tighter regulation increases the cost of powertrains, taxes rise for political reasons, and raw material prices go up. Plan for your most visible and capital-intensive initiatives. 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. As automakers reach out to new kinds of partners, the traditional industry structure, based on vertical supply chains, is being replaced by an array of new relationships for example between automakers and digital companies and between different automakers. Figure-25: Americas Petrol Vehicle Volume (Thousand Units), 2017 2020 Diesel Vehicle 6.2 Region by Automotive Vehicle Categories, 6.2.1 Americas At the same time, it is important to note that electrified vehicles include a large portion of hybrid electrics, which means that even beyond 2030, the internal-combustion engine will remain very relevant. Daimler AG 10.8 Petrol Vehicle, 11. Mild Hybrid Vehicle The four aspects mentioned above will lead to an increase in the rate of innovation. We'll be in touch shortly. 6.2.2 Asia Pacific & Oceania Another reason to form alliances is to share the huge cost burdens of developing the next generation of mobility. Figure-33: Asia Pacific & Oceania MHEV Volume (Thousand Units), 2017 2020 That's over 4% of global vehicle sales. Thus, increasing sales of passenger cars & commercial vehicles and emerging economies are . In all these areas, automakers will have to build up competence in technologies where other industries have already set the standards. To cope with these new patterns of demand, brands need to become leaders in specific use cases to regain importance automotive heritage and history no longer mean much to many people. The Global Automotive Market consisted of 85.32 million units in 2020, and is expected to reach 122.83 million units by 2030. Probably the most important trend in the automotive industry is the worldwide shift to electric vehicles (EVs). Figure-11: Americas EV Volume (Thousand Units), 2017 2020 The market introduction of ADAS has shown that the primary challenges impeding faster market penetration are pricing, consumer understanding, and safety/security issues. Figure-82: Ford Motor Company Forecast for Global Revenue (Billion US$), 2021 2030 The global Automotive Camera market size reached USD 6.92 Billion in 2021 and is expected to reach USD 18.14 Billion in 2030 registering a CAGR of 11.3%. 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. Depending on the local options, that could mean a ride-hailing service, taxi, rental car, car-sharing service, public transport or, of course, their own car. Figure-56: Europe Forecast for Diesel Vehicle Volume (Thousand Units), 2021 2030 The Asia Pacific is the largest market due to the growing demand for passenger cars and fuel-efficient vehicles. Figure-35: Asia Pacific & Oceania NGV Volume (Thousand Units), 2017 2020 These upheavals will be accompanied by broader challenges. The shift to less-complex battery power, combined with improvements in design and manufacturing, will make vehicles more robust, and many components will need to be replaced less often. The industry's principal categories include, Furthermore, MHEVs are also bringing higher efficiency and lower running costs to combustion engines and could therefore provide promising opportunities for OEMs, suppliers, and customers until electric powertrains become ubiquitous. As a result, there have been more job cuts beyond the sector, with plants and suppliers shutting down in countries where the markets are slowest to recover. Executive Summary, 5.1 Americas 12.4.2 Recent Development & Strategies Car manufacturers must further differentiate their products/services and change their value proposition from traditional car sales and maintenance to integrated mobility services. This study aims to make the imminent changes more tangible. 11.6 Fuel Cell Electric Vehicle Figure-52: Europe Forecast for NGV Volume (Thousand Units), 2021 2030 provides a detailed analysis of Global Automotive Market. Figure-50: Europe Forecast for MHEV Volume (Thousand Units), 2021 2030 These companies offer an extensive variety of automotive, fulfilling all significant functions in a vehicle. Toyota Motor Corporation Table-12: Global Automotive Forecast for Volume Share by Category (Percent), 2021 2030 6.4.3 Plug-in Hybrid Electric Vehicle 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. Figure-73: Middle East & Africa Petrol Vehicle Volume (Thousand Units), 2017 2020 Figure-53: Europe FCEV Volume (Thousand Units), 2017 2020 In contrast, first movers may become the standard setters in an area of new vehicle technology, adding a new business to their traditional one. Automotive Glass Market Outlook (2022-2030) [300 Pages Report] Overall revenue in the global automotive glass market is predicted to reach US$ 3.7 Billion in 2022. Figure-23: Americas Diesel Vehicle Volume (Thousand Units), 2017 2020 Fuel Cell Electric Vehicle One area where the traditional auto industry lacks skills is software, and much of the new technology that will go in cars is first being developed outside the automotive world, in particular by digital companies.