The Global Future of Automotive Industry report has recently been published, encompassing a wide array of topics including Original Equipment Manufacturer (OEM) Landscape, Connected Vehicles, Autonomous Driving Technologies, Electric Vehicles (EVs), Innovations in Battery Technology, Powertrains, and Shared Mobility. According to this comprehensive analysis, the automotive industry is projected to experience growth from 88 million units in 2024 to 104 million units by 2030, representing a 2.4% compound annual growth rate.
Anticipated drivers of the future of the automotive industry include the increasing adoption of electric vehicles, advancements in technology, and evolving consumer preferences. Of particular significance is the rapid expansion of electric vehicles, leading to the development and production of long-range batteries and the establishment of fast and ultra-fast charging points for customers. This trend has become a top priority for OEMs and EV solution providers.
Moreover, the report delves into the development and sales volume of both passenger and commercial vehicles, shedding light on key trends in the automotive sector through 2030. This encompasses the shift towards electric vehicles, the introduction of autonomous cars with enhanced safety features, and the swift integration of 5G connectivity in cars.
A notable trend identified in the report is the rise of shared mobility, encompassing services such as car-sharing, bike-sharing, ride-hailing, and public transit. This concept aims to reduce transportation costs, minimize environmental impact, and enhance urban mobility and accessibility. By promoting shared access over individual ownership, shared mobility seeks to create more efficient and sustainable transportation systems in cities worldwide.
The report also forecasts substantial growth in the autonomous vehicle sector, driven by the increasing demand for safety, comfort, and driving convenience features. With the introduction of Level 2, Level 3, and Level 4 autonomous vehicles by various OEMs, the automotive market is primed for transformation in the forthcoming years.
In terms of geographical impact, the Asia Pacific region is anticipated to dominate the automotive market, primarily propelled by the Chinese market, which has emerged as the world’s largest producer and buyer of automobiles. India, Japan, and South Korea also play significant roles in the region, with China leading the way in the production and supply of EV batteries.
The report furnishes a comprehensive overview of the future of electric vehicles and battery technology, connected vehicles, autonomous vehicles, powertrains, and shared mobility. By examining overarching trends, regional market dynamics, and specific industry topics, the report presents invaluable insights for industry professionals, policymakers, and investors.
For further information on this report, please refer to ResearchAndMarkets.com, the premier source for international market research reports and market data. The platform offers the latest data on international and regional markets, key industries, top companies, new products, and emerging trends.
In conclusion, the future of the global automotive industry is poised to be shaped by the increasing adoption of electric vehicles, the introduction of autonomous cars, and the rapid integration of 5G connectivity. With the Asia Pacific region leading the charge in these developments, the automotive industry is entering an era of significant transformation and innovation.