Passenger Cars Market (By Fuel Type: Petrol, Diesel, Hybrid, Electric; By Vehicle Type: Hatchback, Sedan, Compact-SUV, SUV) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global passenger cars market size was exhibited at USD 1,549.25 billion in 2022 and is projected to hit around USD 2,679.13 billion by 2032, growing at a CAGR of 5.63% during the forecast period 2023 to 2032.

passenger cars market size

Key Pointers:

  • North America accounted for the largest revenue share in 2022.
  • By fuel type, the electric segment is predicted to dominate the market from 2023 to 2032.
  • By vehicle type, the compact-SUV segment is expected to dominate the market from 2023 to 2032.

Passenger Cars Market Report Scope

Report Coverage

Details

Market Size in 2023

USD 1,636.47  Billion

Market Size by 2032

USD 2,679.13 Billion

Growth Rate From 2023 to 2032

CAGR of 5.63%

Base Year

2022

Forecast Period

2023 to 2032

Segments Covered

By Fuel Type and By Vehicle Type

Market Analysis (Terms Used)

Value (US$ Million/Billion) or (Volume/Units)

Regional Scope

North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa

Key Companies Profiled

General Motors, Volkswagen, Toyota, Hyundai, Ford, Nissan, Peugeot S.A., Tesla, Honda, Mercedes, Audi, TATA Motors, Kia Motors, Renault, Suzuki Motor Corporation and Others.

 

Passenger cars are the most common means of transportation in developed countries. In recent years there been tremendous adoption in advanced technologies such as advanced driver assistance system (ADAS). Adoption of electric vehicle is fuelling the demand for passenger cars. Due to the increase in per capita income, the number of passenger cars in developing countries is also increasing. The passenger car market of a country depends to a large extent on its current economic conditions, which is why the industry dropped during the recession in the United States and Europe. Many passenger car manufacturers, including General Motors, Ford and Chrysler, have had to seek large loans to continue production in a sluggish economy. Rising raw material prices are one of the biggest concerns in the passenger car market. The prices of steel and plastics have soared to high levels recently, leading to an increase in the price of passenger cars to consumers. The passenger car market depends largely on research and development, and its products need to meet real-time customer needs to remain competitive.

Geographically, the Passenger Cars market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the maximum share in the global market and is expected to propel further owing to the rapid adoption of advanced technologies by the automotive industry. Developing and developed countries such as India, China, Japan and South Korea are the largest contributors in the world’s automotive market. In addition, with the rapid urbanization of cities in countries such as India, China, and ASEAN countries, the demand and sales of passenger cars have been increasing. Increasing disposable income of consumers is boosting the demand for passenger cars. The European region recorded the second-largest share. Rising adoption of electric vehicle charging infrastructure is helping to maintain second-largest position in the market. Presence of major key players in this region and rising adoption of advanced technologies is boosting the passenger car market in this region. North America to show a decent growth in the passenger car market.

Some of the prominent players in the Passenger Cars Market include:

  • General Motors
  • Volkswagen
  • Toyota
  • Hyundai
  • Ford
  • Nissan
  • Peugeot S.A.
  • Tesla
  • Honda
  • Mercedes
  • Audi
  • TATA Motors
  • Kia Motors
  • Renault
  • Suzuki Motor Corporation
  • Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Passenger Cars market.

By Fuel Type

  • Petrol
  • Diesel
  • Hybrid
  • Electric

By Vehicle Type

  • Hatchback
  • Sedan
  • Compact-SUV
  • SUV

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global passenger cars market size was exhibited at USD 1,549.25 billion in 2022 and is projected to hit around USD 2,679.13 billion by 2032

The global passenger cars market is poised to grow at a CAGR of 5.63% from 2023 to 2032.

The major players operating in the passenger cars market are General Motors, Volkswagen, Toyota, Hyundai, Ford, Nissan, Peugeot S.A., Tesla, Honda, Mercedes, Audi, TATA Motors, Kia Motors, Renault, Suzuki Motor Corporation and Others.

North America region will lead the global passenger cars market during the forecast period 2023 to 2032.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Passenger Cars Market 

5.1. COVID-19 Landscape: Passenger Cars Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Passenger Cars Market, By Fuel Type

8.1. Passenger Cars Market Revenue and Volume, by Fuel Type, 2023-2032

8.1.1. Petrol

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Diesel

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. Hybrid

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

8.1.4. Electric

8.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Passenger Cars Market, By Vehicle Type

9.1. Passenger Cars Market Revenue and Volume, by Vehicle Type, 2023-2032

9.1.1. Hatchback

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Sedan

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Compact-SUV

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

9.1.4. SUV

9.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Passenger Cars Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.1.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.1.3. U.S.

10.1.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.1.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.1.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.2. Europe

10.2.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.2.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.2.3. UK

10.2.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.2.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.2.4. Germany

10.2.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.2.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.2.5. France

10.2.5.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.2.5.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.2.6.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.3. APAC

10.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.3.3. India

10.3.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.3.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.3.4. China

10.3.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.3.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.3.5. Japan

10.3.5.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.3.5.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.3.6.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.4. MEA

10.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.4.3. GCC

10.4.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.4.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.4.4. North Africa

10.4.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.4.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.4.5. South Africa

10.4.5.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.4.5.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.4.6.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.5. Latin America

10.5.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.5.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.5.3. Brazil

10.5.3.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.5.3.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)

10.5.4.2. Market Revenue and Volume Forecast, by Vehicle Type (2020-2032)

Chapter 11. Company Profiles

11.1. General Motors

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Volkswagen

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Toyota

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Hyundai

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Ford

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Nissan

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Peugeot S.A.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Tesla

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Honda

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Mercedes

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Proceed To Buy

USD 4500
USD 3800
USD 1900
USD 1200

Customization Offered

  • check-img Cross-segment Market Size and Analysis for Mentioned Segments
  • check-imgAdditional Company Profiles (Upto 5 With No Cost)
  • check-img Additional Countries (Apart From Mentioned Countries)
  • check-img Country/Region-specific Report
  • check-img Go To Market Strategy
  • check-imgRegion Specific Market Dynamics
  • check-imgRegion Level Market Share
  • check-img Import Export Analysis
  • check-imgProduction Analysis
  • check-imgOthers