New Energy Vehicle Market, Global Outlook and Forecast

The Passenger Car Global Market Report 2023 by The Business Research Company, provides passenger car market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/passenger-car-global-market-report

According to The Business Research Company’s Passenger Car Global Market Report 2023, the market size is expected to grow from$1506.73 billion in 2022 to $1657.79 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger car industry is expected to grow to $2372.13 billion in 2027 at a CAGR of 9.4%.

Additive manufacturing is continuously evolving, and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification, and functional parts used in test vehicles and engines. Automobile manufacturers are also using 3D printing to build a variety of tools, jigs, and fixtures used in assembly and manufacturing processes. 3D printing helps in rapid prototyping, increases assembly-line efficiency, lowers turnaround time, improves flexibility in design, and reduces wastage of materials.

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The passenger car market is segmented:

1) By ype: Hatchback, Sedan, Utility Vehicle

2) By Fuel Type: Gasoline, Diesel, Other Fuel Types

3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc

4) By Propulsion Type: IC Engine, Electric Vehicle

The passenger car market report table of contents includes: