Market Size of global passenger cars Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 0.96 Trillion |
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Market Size (2029) | USD 1.48 Trillion |
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Largest Share by Sub Body Type | Sports Utility Vehicle |
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CAGR (2024 - 2029) | 9.04 % |
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Largest Share by Region | Europe |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Passenger Cars Market Analysis
The Global Passenger Cars Market size is estimated at USD 0.96 trillion in 2024, and is expected to reach USD 1.48 trillion by 2029, growing at a CAGR of 9.04% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - Gasoline : Gasoline has the highest growth among all fuel types across globe. Easy availability of the traditional fuel and the affordable price of the gasoline engines provide an edge over other fuel options.
- Largest Segment by Country - Germany : Globally, China has witnessed the largest share in passenger car sales. The growing disposable income of consumers and changing lifestyles are increasing the demand for passenger cars in China.
- Largest Segment by Sub-Body Type - Sports Utility Vehicle : Strong build, ability to drive in all terrains and bold looks, strong engines are some of the factors making SUVs the largest sub-body type in the global passenger car market.
- Fastest-growing Segment by Fuel Type - FCEV : Stringent norms, governmental subsidies, continued encouragement of BEV adoption among private auto owners which is making BEV the fastest-growing segment in passenger car market globally.
