Automotive assembly market

Automotive Assembly Market, by Vehicle Type (Passenger Vehicles and Commercial Vehicles), by Component (Engine, Driving System, Control System, Electrical System, Accessories, and Others), by Assembly Line (Automated and Semi-automated), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jan 2023
CMI5492
165 Pages
Excel & Pdf
Automotive and Transportation

Summary

The automotive industry includes wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. In automotive assembly, various processes are involved such as metal cutting, pressing, polishing, grinding, welding, plating, & painting. Moreover in the process of automotive assembly there are various steps that are considered. At the initial stage, raw materials such as steel, aluminum are used in car manufacturing process. Many car manufacturers are focusing on more sustainable, as well as lightweight and cost-effective, materials for their cars to keep up with the demand for greener products. In design & engineering process, various models are made in 2D and 3D forms to test the automotive design. Automotive design is a creative process used to define the physical appearance of motor vehicles such as cars, trucks, motorcycles etc. It encompasses interior and exterior design.

Global Automotive Assembly Market - Impact of Coronavirus (Covid-19) Pandemic :

Global automotive assembly market has been impacted significantly by the COVID-19 pandemic, in terms of supply as well as demand. Due to the COVID-19 pandemic, governments of different countries declared total lockdown and temporarily shut down of industries such as automotive industry electronic industries, and others. Therefore, the overall automotive assembly market has been affected.

North America is expected to hold dominant position in the global automotive assembly market during the forecast period’.

Statistics:

North America held a dominant position in the global automotive assembly market in 2021, accounting for 40% share, in terms of value.

Figure 1: Global Automotive Assembly Market Share (%), By Region, 2021

Among regions, North America held dominant position in the automotive assembly market in 2021 and is expected to retain its dominance throughout the forecast period. In 2020, according to Coherent Market Insights analysis, North America market generated a revenue of US$ 16,596Mn and is expected to reach US$ 27566Mn by 2030, with a CAGR of 5.5% over the forecast period.

In North America, increasing adoption of various technologies such as artificial intelligence and others in automotive assembly is expected to boost growth of the automotive assembly market. Car manufacturers use artificial intelligence technology for car-manufacturing process. Examples of AI in the automotive industry include industrial robots constructing a vehicle and autonomous cars navigating traffic with machine learning and vision.

Automotive Assembly Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 41,490 Mn
Historical Data for:	2017 to 2021	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	5.80%	2030 Value Projection:	US$ 68,750 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and the Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and the Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and the Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and the Rest of the Middle East and Africa
Segments covered:	By Vehicle Type: Passenger Vehicle and Commercial Vehicles By Component: Engine, Driving syste, Control System, Accessories, Others By Assembly Line: Automated, Commercial Vehicles
Companies covered:	BMW Group, Daimler, Ford Motor, General Motors, Honda Motor, Hyundai Motor, SAIC Motor, Stellantis, Toyota Motor, Volkswagen Group, and others.
Growth Drivers:	Rising demand of passenger vehicles and increasing urbanization
Restraints & Challenges:	Increasing environmental concerns

Electrical system segment is expected to hold a dominant position during the forecast period.

Among component, electrical system segment is expected to hold a dominant position in the global automotive assembly market during the forecast period. The segment is expected to exhibit the highest CAGR of 5.4%.

Figure 2: Global Automotive Assembly Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2022 - 2030

Global automotive assembly market was valued at US$ 41,490 Million in 2021 and is expected to reach US$ 68,750 Million by 2030 at a CAGR of 5.80% between 2022 and 2030.

Major players operating in the global automotive assembly market include BMW Group, Daimler, Ford Motor, General Motors, Honda Motor, Hyundai Motor, SAIC Motor, Stellantis, Toyota Moto, Volkswagen Group, and others.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Automotive Assembly Market - forecast to 2030”.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the expected market size of the global automotive assembly market in 2030?

The global automotive assembly market is expected to reach US$ 68,750 million by 2030.

What is the expected compound annual growth rate (CAGR) of the market during the forecast period (2022-2030)?

The market is expected to exhibit a CAGR of 5.80% during the forecast period (2022-2030).

What is the primary factor contributing to the growth of the market?

Rising urbanization is the primary factor contributing to the market during the forecast period.

Based on vehicle type, which segment held the largest market share in the market in 2021?

Passenger vehicles held the largest market share among vehicle type in the global automotive assembly market in 2021.

Which region held the largest market share in the market in 2021?

North America held the largest share in the market in 2021.