Global Motor Vehicles Manufacturing Market Is Valued At Around USD 3 Trillion
Posted by sainath on July 13th, 2018
The global motor vehicles manufacturing market is valued at around USD 3 Trillion in 2017. This market is expected to register a high growth rate in the forecast period due to the positive economic outlook in both developed and developing economies, expected increase in demand for hybrid and electric vehicles spurred by technological developments, innovation and changing environmental regulations.
Asia Pacific was the largest region in the motor vehicles market in 2017, accounting for more than one-third of the market share.
The motor vehicles manufacturing market in The Business Research Company’s report is segmented into commercial vehicle, passenger car, and motorcycle & bicycle. While the first two segments account for almost 95% of the market share, the remaining is attributed to the motorcycle & bicycle segment.
China was the largest country in the motor vehicles market in 2017, accounting for more than one-fifth of the market share. This was the result of the growing demand for personal mobility and government subsidies on smaller engine vehicles which in turn increases the demand for the motor vehicles. China was followed by the USA and Germany.
Toyota Motor Corporation (Toyota) was the largest company in the motor vehicles market in 2017, followed by Volkswagen AG and General Motor Company. Toyota is a multinational automotive manufacturer, headquartered in Aichi, Japan.
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Joined: June 13th, 2018
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