The Business Research Company’s latest report Motor Vehicles Global Market Report 2020 covers Motor Vehicles market drivers, Motor Vehicles market trends, Motor Vehicles market segments, Motor Vehicles market growth rate, Motor Vehicles market major players, and Motor Vehicles market size. The report provides in-depth analysis of the impact of COVID-19 on the Motor Vehicles industry, along with revised market numbers due to the effects of the coronavirus.
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Motor Vehicles Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global motor vehicles market is expected to decline from $2324 billion in 2019 to $2305.9 billion in 2020 at a compound annual growth rate (CAGR) of -0.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $2941.9 billion in 2023.
The global motor vehicles market is segmented by type into motorcycle and bicycle, passenger car, commercial vehicle, by fuel type into gasoline, diesel, others, by engine capacity into <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc, by propulsion type into IC engine, electric vehicle. Subsegments covered are motorcycles and parts, bicycles and parts, motor scooters, others – motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches.
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