The global Automotive Assembly Market is estimated to be valued at US$ 41,490 Mn in 2021 and is expected to exhibit a CAGR of 5.80% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The automotive assembly market involves the process of assembling various components and parts to manufacture a complete vehicle. This market includes the assembly of cars, trucks, motorcycles, and other vehicles. With the rising demand for vehicles worldwide, the automotive assembly market is experiencing significant growth. The need for efficient, durable, and high-quality vehicles has increased the demand for automotive assembly. Moreover, with the shift towards electric vehicles, the market is expected to witness even higher growth.
Market key trends:
One key trend in the automotive assembly market is the increasing demand for electric vehicles (EVs). The global automotive industry is witnessing a transformation with a focus on sustainable mobility solutions. As governments around the world implement stricter emission regulations and provide incentives for EV adoption, the demand for electric vehicles is surging. This trend is driving the growth of the automotive assembly market as manufacturers ramp up their production of electric vehicles.
For example, leading automakers such as BMW Group, Ford Motor, General Motors, and Volkswagen Group have announced their plans to invest heavily in electric vehicle manufacturing and assembly. BMW aims to have 25 electric models on the market by 2023, while Volkswagen plans to produce 20 million electric vehicles by 2030. These investments and initiatives are driving the growth of the automotive assembly market.
PEST Analysis:
- Political: Governments worldwide are implementing stricter emission regulations and providing incentives for the production and adoption of electric vehicles.
- Economic: The increasing disposable income of consumers, coupled with reduced battery costs, is making electric vehicles more affordable and driving their demand.
- Social: Growing environmental consciousness among consumers and the need for sustainable mobility solutions are fostering the demand for electric vehicles.
- Technological: Advances in battery technology, charging infrastructure, and autonomous driving technologies are fueling the growth of the electric vehicle market.
Key Takeaways:
- The global automotive assembly market is expected to witness high growth, exhibiting a CAGR of 5.80% over the forecast period, due to increasing demand for electric vehicles. Electric vehicles offer lower emissions, reduced operating costs, and enhanced driving experience, driving their adoption.
- Asia Pacific is expected to be the fastest-growing and dominating region in the automotive assembly market. The region is witnessing significant investments in electric vehicle manufacturing and assembly, with countries like China, Japan, and South Korea leading the market.
- Key players operating in the global automotive assembly market include BMW Group, Daimler, Ford Motor, General Motors, Honda Motor, Hyundai Motor, SAIC Motor, Stellantis, Toyota Motor, and Volkswagen Group. These companies are investing in electric vehicle production and assembly to meet the growing demand for eco-friendly vehicles.
In conclusion, the global automotive assembly market is witnessing high growth driven by the increasing demand for electric vehicles. Governments' initiatives, reduced battery costs, and technological advancements are supporting the growth of the market. Asia Pacific is emerging as a key region in this market, while major players are actively investing in electric vehicle production and assembly.
The latest trending report Global Automotive Body Welded Assembly Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Automotive Body Welded Assembly market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 5.2% in the forecast period of 2020 to 2025 and will expected to reach USD 76 million by 2025, from USD 62 million in 2019.The Automotive Body Welded Assembly market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/26897-automotive-body-welded-assembly-market-analysis-reportThe major players covered in Automotive Body Welded Assembly are:ArcelorMittalJFEPOSCOHebei Iron and SteelAnsteelNSSMCTata SteelJiangsu ShagangBaosteel GroupShougangMaanshan SteelBohai Steel GroupWuhan Iron and SteelThyssenKruppNucor CorporationShandong Steel GroupGerdauHyundai SteelBy Type, Automotive Body Welded Assembly market has been segmented into:Upper BodyUnder BodyBy Application, Automotive Body Welded Assembly has been segmented into:Passenger VehicleCommercial VehicleThe report offers in-depth assessment of the growth and other aspects of the Automotive Body Welded Assembly market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)South America (Brazil, Argentina, Colombia)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Automotive Body Welded Assembly Market @ https://www.decisiondatabases.com/contact/download-sample-26897The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Automotive Body Welded Assembly product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Automotive Body Welded Assembly, with price, sales, revenue and global market share of Automotive Body Welded Assembly in 2018 and 2019.Chapter 3, the Automotive Body Welded Assembly competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Automotive Body Welded Assembly breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Automotive Body Welded Assembly market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Automotive Body Welded Assembly sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Automotive Body Welded Assembly Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-26897All Automotive Related Reports by DecisionDatabases.com @ https://goo.gl/uPLfSBAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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