General Motors was the market leader in terms of U.S. light vehicle sales in 2024. Between January and December 2024, consumers in the United States bought around *** million GM vehicles, making General Motors the producer of approximately **** percent of the automobiles sold in the U.S. during that time.  Rebounding after a pandemic-related dip U.S. light-vehicle sales are stalling: the U.S. automotive industry sold roughly ***** million light vehicles between January and December 2024. This compares to about **** million units one year before and close to ** million vehicles in 2019. The trend is slightly different for America’s most popular manufacturer. GM’s global light vehicle sales declined in 2024, compared with the figures reported for the same twelve months in 2023. The U.S. automotive industry had several good years between 2015 and 2018, when consumers purchased more than ** million light vehicles annually for an unprecedented four years in a row. This stellar spell came to an end in 2019. Slowing economies and the COVID-19 pandemic had a strong negative effect on vehicle production and consumption. The U.S. auto market had high hopes for a V-shaped recovery in 2021 and 2022, but the reality was different. Light vehicle sales in North America dropped to **** million in 2022, after encouraging sales in 2021. The regional market was growing in 2024, but had yet to reach pre-pandemic levels. A competitive market The automobile market in the United States is a competitive space, with Toyota Motor trailing General Motors in the ranking. Chevrolet, a division of General Motors, recorded the second-best initial quality in the U.S. as of May 2024. It was preceded by Ram. Lexus, a subsidiary of Toyota, ranked eighth in this quality ranking but sixth in overall U.S. consumer satisfaction in 2024, with an index score ***** points above its main luxury car competitor, BMW. General Motors brands were at a similar position in the ranking, with the automaker's Cadillac brand earning the same index score as Lexus.

At around **** percent, General Motors held the largest share of the auto market in the United States in 2024. General Motors remained the most successful automotive manufacturer in the United States. Between 2004 and 2021, however, the manufacturer lost market share, while that of Toyota rose as a result of an increased focus on light truck models in the lineup. This shifted in 2022, but 2023 led to another slight drop in market share of the American automaker. Asian manufacturers dominate non-domestic competition Among the non-domestic manufacturers, Asian automakers proved to be the most successful group. Asian car brands selling vehicles to customers in the United States include Toyota, Honda, Nissan, Hyundai, and Subaru. Toyota was also among the most valuable automotive brands worldwide as of June 2024. Both Toyota and Lexus were among the ten brands with the highest consumer satisfaction in the United States that same year. How many brands do auto manufacturers own? General Motors, Ford, and Toyota are the leading automotive manufacturers based on market share in the United States. The Ford Motor Company mainly sells vehicles under its namesake brand, while the Toyota Motor Corporation offers several brands, including Lexus and Toyota. General Motors sells vehicles under various brands, including Chevrolet, Buick, and GMC. In 2017, GM and PSA Group closed a deal in which the French carmaker acquired GM's Opel and Vauxhall brands.

In 2024, the ranking of the world’s largest car brands was topped by Toyota with a market share of around **** percent. The Toyota brand is owned by Japan's Toyota Motor Corporation, the world's largest motor vehicle manufacturer. New trends in the auto industry In light of growing environmental awareness and increasing efforts to connect vehicles, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric and autonomous vehicles are set to revolutionize the industry. Palo Alto-based Tesla Motors is currently among those at the vanguard of the trend towards electrification, along with the Chinese car manufacturer BYD. Tesla delivered nearly **** million vehicles in 2024, meaning that Volkswagen Group's sales tally is over **** times as much. The state of the global auto industry Car sales worldwide have dipped between 2019 and 2020 as a result of the economic downturn generated by the COVID-19 pandemic. 2021 sales recovered, despite remaining below 2019 levels, but supply chain shortages led to a slow recovery of sales in 2022. By the end of 2023, the global car sales volume had grown over pre-pandemic levels. China was the largest automobile market based on new passenger car registrations, recording close to **** million units sold. It was followed by the United States and Europe. China was also the leading passenger car producing country in 2023.

The North America Automotive Industry is Segmented by Vehicle Type (Passenger Cars, Commercial Vehicles (Light Commercial Vehicles and Medium and Heavy Commercial Vehicles), and Two-wheelers) and Geography (United States, Canada, and the Rest of North America). The report offers market size and forecast in value (USD million) for the above segments.

Automobile and light duty motor vehicle manufacturers have contended with many challenges through the current period. Significant technological improvements, particularly regarding hybrid and electric vehicles, internal combustion engine fuel efficiency, infotainment development and autonomous driving capabilities, have spurred global demand from the growing global middle class. Even so, the pandemic led to a monumental slowdown, slashing vehicle demand. Similarly, rampant inflation and climbing interest rates made car buying more expensive, limiting potential growth despite pent-up demand for driving and travel following lockdown restrictions. Regardless, easing interest rates have created new opportunities in consumer markets, contributing to overall growth, despite many quarterly peaks and valleys. Overall, revenue has climbed at an expected CAGR of 2.4% to $364.5 billion through the current period, including a 2.7% jump in 2025, where profit reached 5.4%. Aluminum and steel are significant inputs for most automakers. Most input manufacturers cut production amid the pandemic, leaving automakers with supply chain shortages and long lead times, especially as automotive demand rebounded following the pandemic. Semiconductors and other integral electronic component manufacturers also failed to meet automaker's demand, exacerbating supply chain issues. Despite these issues, manufacturers have successfully pushed costs onto consumers, expanding profit. Many companies have also expressed greater supply chain oversight following disruptions, leading to more nearshoring, vertical integration and strategic partnerships and alliances. Even so, labor strikes, union demands and lingering economic uncertainty have contributed to volatility. Innovation and the economy's recovery will drive growth through the outlook period. Automakers will continue to invest heavily in technology and innovation, making waves with new electric and autonomous driving technologies. Companies will also lean on government support regarding electric and hybrid vehicle technology to generate strong returns and appeal to more consumers. However, the new presidential administration may cut EV rebates and implement new trade policies, potentially hindering the industry's growth outlook. Overall, revenue will expand at an expected CAGR of 1.3% to $410.4 billion through the outlook period, where profit will reach 5.7%.

The North American automotive industry, valued at $0.99 million in 2025 (assuming this figure represents a segment of the overall market, not the total), is projected to experience robust growth, driven by several key factors. A Compound Annual Growth Rate (CAGR) of 5.43% from 2025 to 2033 suggests a significant expansion in market size over the forecast period. This growth is fueled by increasing consumer spending on vehicles, particularly in passenger cars and light commercial vehicles, spurred by economic recovery and favorable financing options. The rising adoption of electric and hybrid vehicles, coupled with advancements in autonomous driving technology, represents a significant trend shaping the industry's trajectory. However, challenges remain, including supply chain disruptions which continue to impact production and pricing, rising raw material costs, and evolving consumer preferences that demand greater fuel efficiency and sustainable manufacturing practices. The market segmentation reveals significant variation in growth across vehicle types, with passenger cars and light commercial vehicles potentially outpacing growth in heavier commercial vehicles and two-wheelers due to differing economic sensitivities and technological advancements. Geographic distribution also plays a significant role, with the United States likely dominating the market share given its larger economy and vehicle ownership trends compared to Canada and the rest of North America. Major players like Fiat Chrysler Automobiles, General Motors, Ford, Toyota, and Tesla are strategically positioning themselves to capitalize on these emerging trends, investing heavily in electric vehicle (EV) development, innovative technologies, and sustainable manufacturing. The competitive landscape is fierce, with ongoing mergers, acquisitions, and strategic partnerships shaping the industry's structure. The forecast period will likely witness a consolidation of market share amongst the larger players, potentially leading to some smaller manufacturers exiting the market or being acquired. Furthermore, government regulations promoting clean energy and reducing emissions will significantly impact the industry's product offerings and manufacturing processes in the coming years. The consistent growth projected indicates a positive outlook, but the industry must adapt proactively to the challenges to maintain its momentum. This comprehensive report provides a detailed analysis of the North America automotive industry, encompassing the historical period (2019-2024), base year (2025), and forecast period (2025-2033). The study covers passenger cars, light commercial vehicles (LCVs), medium and heavy commercial vehicles (M&HCVs), and two-wheelers across the United States, Canada, and the Rest of North America. With a focus on market size (in million units), key players, and emerging trends, this report is an essential resource for businesses, investors, and policymakers seeking to understand this dynamic sector. Search terms used include: North America automotive market, automotive industry trends, electric vehicle market, commercial vehicle sales, passenger car sales, US automotive industry, Canadian automotive market. Recent developments include: July 2022: Cadillac unveiled the Celestiq show car, a vision of innovation that previews the brand's future handcrafted and all-electric flagship sedan. The Ultium-based electric show car previews some of the materials, innovative technologies, and hand-crafted attention to detail harnessed to express Cadillac's vision for the future., July 2022: Amazon began deploying its custom electric delivery vehicles from Rivian for package delivery, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities., January 2022: Tesla Inc. had a supply agreement with Talon Metals Corp., a subsidiary of Talon Nickel LLC, for the supply of nickel. This agreement will lead to the production of battery material from mine to battery cathode in order to make the electric vehicle battery more eco-friendly.. Key drivers for this market are: Growing Travel and Tourism Industry is Driving the Car Rental Market. Potential restraints include: Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market. Notable trends are: Rising Electric Mobility to Drive Demand in the Market.

Automotive Market Outlook

According to our latest research, the global automotive market size reached USD 3.1 trillion in 2024, with a compound annual growth rate (CAGR) of 4.2% projected through 2033. By the end of this forecast period, the market is expected to attain a value of USD 4.5 trillion. This robust growth is primarily driven by technological advancements, the rapid adoption of electric vehicles, and evolving consumer preferences towards sustainable mobility solutions.

One of the most significant growth factors in the automotive market is the accelerating shift towards electrification. The increasing concerns over environmental sustainability and stringent emission regulations imposed by governments worldwide have compelled automakers to invest heavily in electric vehicle (EV) development. The proliferation of battery technologies, coupled with declining battery costs, has made EVs more accessible to a broader consumer base. This transition is further bolstered by supportive government policies, such as tax incentives and subsidies for EV buyers, as well as the expansion of charging infrastructure. As a result, electric vehicles are not only reshaping product portfolios but are also influencing supply chains and manufacturing processes across the industry.

Another critical driver for the automotive market is the integration of advanced electronics and digital technologies. The rise of connected vehicles, autonomous driving features, and sophisticated infotainment systems has transformed the traditional automobile into a smart mobility platform. Consumers now demand enhanced safety features, real-time navigation, and seamless connectivity, prompting manufacturers to invest in research and development for next-generation automotive electronics. Furthermore, the emergence of artificial intelligence (AI), machine learning, and the Internet of Things (IoT) in vehicle systems is creating new revenue streams and business models, such as mobility-as-a-service (MaaS) and over-the-air (OTA) software updates.

In addition to electrification and digitization, the automotive market is experiencing growth due to the rising demand for personal mobility and the recovery of global supply chains post-pandemic. Urbanization and increasing disposable incomes in emerging economies have spurred the sales of passenger cars and two-wheelers. Meanwhile, the commercial vehicle segment is benefiting from the surge in e-commerce and logistics activities, necessitating efficient transportation solutions. The aftermarket segment is also gaining traction, driven by the growing vehicle parc and consumer inclination towards vehicle customization and maintenance.

Regionally, the Asia Pacific continues to dominate the global automotive market, accounting for the largest share in both production and sales. This dominance is attributed to the presence of major automotive manufacturing hubs in China, Japan, India, and South Korea, as well as a rapidly expanding middle-class population. North America and Europe remain key markets due to their technological leadership and high adoption rates of advanced automotive technologies. However, regions such as Latin America and the Middle East & Africa are emerging as lucrative markets, fueled by infrastructure development and favorable government initiatives aimed at boosting local automotive industries.

Vehicle Type Analysis

The vehicle type segment of the automotive market is highly diversified, encompassing passenger cars, commercial vehicles, electric vehicles, two-wheelers, and other specialized vehicles. Passenger cars continue to represent the largest share of the market, driven by increasing urbanization, rising disposable incomes, and evolving consumer preferences for personal mobility. The global demand for passenger cars is particularly strong in emerging economies, where a growing middle class is seeking affordable and reliable transportation options. Automakers are responding by introducing a

At about **** percent, General Motors (GM) held a significant portion of the U.S. market in 2024. However, over the course of the last two decades, GM has lost a considerable amount of market share, which stood at about ** percent some 19 years ago. The company General Motors is a multinational company headquartered in Detroit and is ranked among the leading automobile manufacturers worldwide based on revenue. GM has had some variability in the number of cars sold worldwide, with a decline in recent years, especially after selling the Opel and Vauxhall brands to PSA. However, GM's financial statements indicate that there has been a recent increase in income globally, with 2024 having the highest sales revenue. The company's revenue had started to drop significantly in 2019, but by 2023, the company had recovered from the financial impact of the COVID-19 pandemic and supply chain shortages. GM includes many brands such as Chevrolet, Buick, GMC, Cadillac, and several other companies. The global automotive industry The global automotive industry is facing new challenges with the advent of smart technology. The recent decade has seen the greatest production volume of cars and commercial vehicles around the world, but the COVID-19 pandemic and global automotive chip shortage have led to production halts and to a steep decrease in the global automotive output. By 2024, the industry had started to recover from these challenges.

Automobile engine and parts manufacturers produce gasoline and diesel-powered engines and parts. The industry primarily consists of vertically integrated automobile manufacturers and large companies providing engines that fill supplementary contracts for automakers and aftermarkets. Manufacturers are highly globalized, benefiting from international supply chains and global demand. Even so, volatile economic conditions, skyrocketing input costs, worker strikes and massive pressure from both foreign manufacturing powers and electric vehicles have slammed revenue and profit growth. However, falling rates, rebounding economic conditions and easing supply chains have created positive tailwinds. Overall, revenue for automobile engine and parts manufacturers has expanded at an expected CAGR of 1.2% to $42.2 billion through the current period, despite a 0.8% decline in 2025, where profit reached 3.1%. Increased environmental consciousness and high fuel prices have pushed consumers to reevaluate owning gasoline-powered cars. The federal government has also provided subsidies to electric vehicle producers and consumers purchasing EVs to facilitate the shift from fossil fuels. Gasoline-powered engine and parts manufacturers have prioritized more efficient engines to combat EV production and meet efficiency standards. Many companies have also automated to cut costs as substitute products squeeze revenue and profit opportunities. On the other hand, higher steel and aluminum prices pressured purchasing costs, though most manufacturers successfully leveraged globalized supply chains or vertical integration to remain profitable. The economy's recovery will also rejuvenate demand; consumers will have more disposable income to purchase new vehicles, get repairs and take road trips. Normalizing input costs will also enable profit growth while improving trade conditions will facilitate export growth and dampen import penetration. Even so, external competitors, namely electric vehicles and improved public transportation infrastructure, will remain major threats to sustained revenue growth. Overall, revenue will rebound at an estimated CAGR of 2.0% to $46.6 billion through the outlook period.

The US Automotive Market size was worth around USD 4.35 billion in 2023 and is predicted to grow to around USD 10.67 billion by 2032 with a CAGR of roughly 10.5%.

According to Cognitive Market Research, the Global Automative Garage Equipment Market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031.

The global automotive garage equipment market will expand significantly by XX% CAGR between 2024 and 2031.
Body Shop Equipment dominates the market and is anticipated for a healthy growth over the approaching years.
Compared to independent garages, the automotive OEM dealership segment is expected to grow faster during the forecast period.
The market's largest revenue share belongs to mobile kind. Equipment for garages designed to be easily moved or transported is called a mobile installation.
A significant portion of market share is made up of passenger cars. This is a result of their worldwide scope and is predicted to increase from 86.4 million to 86.8 million in 2023.
North America is the largest global garage equipment market shareholder and is estimated to grow at a CAGR of XX% over the forecast period.

Current Scenario: Automatic Garage Equipment of the Market

Driving Factors of Automatic Garage Equipment Market

The Garage Equipment market is primarily driven by an increase in car production and sales 

The need for garage equipment is directly impacted by the expansion of the worldwide automotive industry. The market for contemporary tools and equipment used in automotive workshops and service facilities is driven by the growing number of vehicles on the road and the resulting demand for maintenance, repairs, and servicing.

According to OICA (International Organization of Motor Vehicle Manufacturers) , global motor vehicle production in 2022 was over 85 million units, up 6% from the previous year. An increase in car manufacturing corresponds directly to increased demand for garage equipment. (Source:https://www.acea.auto/figure/world-motor-vehicle-production/)

Some of the top automotive industry-related statistics include; US car manufacturing market was worth $104.1 billion in the US. Also, The Indian automotive sector contributed 7.1% to the overall GDP and 49% to the manufacturing GDP in 2021. Additionally, 105 billion items related to motor vehicles and parts were exported in 2021 from the US These were the second largest in exports.

According to a recent survey by published by the European Automobile Manufacturer Association the global car sales have increased by around 9% in the first three quarter of 2023.The Europe market witnessed sales growth of 20.4% from January to September in 2023

Rise in use of electric cars and vehicles (EVs) 

The rise of electric cars (EVs) in the automobile business affects demand for specific garage equipment. The growth of EVs has led to the development of specialized equipment for battery servicing, charging infrastructure, and EV-specific diagnostics. In 2023, global electric vehicle (EV) sales climbed by 31% to 13.6 million units. Fully electric vehicles (BEVs) accounted for 9.5 million of total sales, with PHEVs making up the remainder ( predicted by Rho Motion)

Electric vehicles amounted to some 14 percent of global passenger car sales in 2022, which was a rise of around 5.3 percentage points year-over-year. Electric vehicle sales have rapidly increased since 2017, when they rose above one percent of the market, and have particularly accelerated since 2020.

(Source;https://www.statista.com/statistics/1371599/global-ev-market-share/)

The Asia-Pacific region was the leading market for battery-electric vehicles, propelled by the Chinese new energy vehicle market. Automakers worldwide will have to focus on clean fuel sources and sustainable supply chains. In 2020, Volkswagen started delivering its electric ID.4 model and consistently ranked among the best-selling EV brands. By 2022, the Volkswagen Group was the fourth leading EV automaker worldwide.

(Source:https://www.statista.com/topics/1010/electric-mobility/#topicOverview)

Increasing sales of pre-owned vehicles and emergence of autonomous vehicles are anticipated to drive the growth of the automotive garage equipment market

Pre-owned vehicles, commonly known as used cars, are those that have been previously owned and utilized by individuals or businesses before being made available for resale. Automotive garage equipment plays a crucial role in the pre-o...

The global medium-sized car market is a dynamic sector experiencing significant growth, driven by increasing urbanization, rising disposable incomes in developing economies, and a preference for fuel-efficient vehicles. While precise figures for market size and CAGR are absent from the provided data, we can make reasonable estimations based on industry trends. Considering the presence of major global automakers like Toyota, Honda, and Volkswagen, and the significant market penetration of medium-sized cars across diverse regions, a conservative estimate for the 2025 market size would be around $500 billion USD. A plausible CAGR for the forecast period (2025-2033) could be 4-6%, considering factors like the ongoing shift towards electric vehicles and potential economic fluctuations. This growth is further fueled by the expansion of the passenger car segment within the medium-sized car market, with this application segment representing a larger share of the overall value compared to commercial vehicles. The market is segmented by fuel type (petrol, diesel, electric, others) and application (passenger car, commercial vehicle). The electric vehicle segment is expected to witness the most significant growth within the coming years, driven by environmental concerns and government incentives promoting electric mobility. However, constraints such as the high initial cost of electric vehicles, limited charging infrastructure in certain regions, and fluctuating raw material prices for battery components might temper growth to some extent. Regional variations are expected, with North America, Europe, and Asia-Pacific dominating the market share, due to the high concentration of major automotive manufacturers and a large consumer base. Developing regions in Asia and South America also present significant growth opportunities as their economies continue to expand. The competitive landscape is intensely competitive, with established global players alongside rapidly growing Chinese manufacturers vying for market dominance through innovation, technological advancements, and strategic partnerships.

In 2024, Ford remained the leading car brand in the United States based on vehicle sales, delivering about *** million units to U.S. customers. The United States is the largest market for Ford: wholesales to U.S. dealerships reached over *** million vehicles in 2023. Car sales among major manufacturers The top three U.S. car brands are assembled and distributed by the leading manufacturers in the U.S. market: Ford Motor Company, Toyota Motor Corporation, and General Motors (GM). As of the fourth quarter of 2024, GM's largest segment of sales was attributable to its Chevrolet-badged vehicles. Within the Ford Motor Corporation, the Ford division accounted for the largest number of vehicle sales. And finally, Toyota’s largest distribution of this sales volume was attributable to the Toyota brand vehicles. Automotive industry overview Production and sales volumes are declining among the key automotive brands in the United States, as a result of the accelerated automotive semiconductor shortage, the COVID-19 pandemic, and the fact that the automotive manufacturing and sales market is highly competitive both within the U.S. and globally. Electric vehicles emerged as the leading trend in Europe since 2020 and the U.S. electric vehicle industry has been catching up. Furthermore, it is forecast that autonomous vehicles will disrupt the U.S. market between 2020 and 2030.

The global Big Data in Automotive Industry market is estimated to be worth USD 5.92 million in 2025 and is projected to grow at a CAGR of 16.78% during the forecast period from 2025 to 2033. This growth is attributed to the increasing adoption of connected vehicles, the growing need for data-driven insights to improve operational efficiency, and the rising investment in research and development of new technologies. The market is segmented into product, OEM warranty and aftersales/dealers, connected vehicle and intelligent transportation, sales, marketing, and other applications. Key drivers for the growth of the Big Data in Automotive Industry market include the increasing adoption of connected vehicles, the growing need for data-driven insights to improve operational efficiency, and the rising investment in research and development of new technologies. The market is also being driven by the increasing use of sensors and cameras in vehicles, which are generating large amounts of data. This data can be used to improve vehicle safety, performance, and fuel efficiency. The market is expected to be further driven by the growing popularity of cloud-based services, which provide a cost-effective way to store and process large amounts of data. Recent developments include: May 2022: To help advanced driver assistance systems (ADAS)/ autonomous driving engineering teams tackle the major problems with data volume, quality, access, and utilization, National Instruments Corporation (NIC) announced the deployment of a fleet of vehicles in Europe, the United States, and China. Workflow and data management would both benefit from it., March 2022: To provide engineers access to the tools required to develop and automate a test or measurement system through a single software license, National Instruments Corporation (NIC) unveiled its test workflow subscription bundle for automated test systems. The software from NIC is used by engineers to enhance each stage of the product life cycle while producing useful measurements, data, and insights., January 2022: Microsoft and Cubic Telecom joined with Volkswagen to create the Microsoft connected vehicle platform (MCVP). Through Cubic Telecom's advanced eSIM technology, applications and technologies will be embedded into vehicles at the manufacturing stage, enabling simple logistics and over-the-air software updates and giving automakers the power to collect data on cars' performance. As part of the deal with Microsoft, Cubic Telecom will be the first seamless connectivity provider as a core service offering to MCVP for a global market.. Key drivers for this market are: Increasing Efforts from Various Stakeholders in Utilizing the Vehicle Generated Data, Growing Installed-Base of Connected Cars. Potential restraints include: , High Initial Invetsment and Product Cost. Notable trends are: Product Development, Supply Chain and Manufacturing Segment Accounts for a Major Share.

According to Cognitive Market Research, the global complete automotive market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 3.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.
The electric held the highest complete automotive market revenue share in 2024.

Market Dynamics of Complete Automotive Market

Key Drivers for Complete Automotive Market

Growing Interest in Improved Fuel Economy to Increase the Demand Globally

The increasing demand for cars with more efficient engines is driving the market's growth. Additionally, automakers are putting more effort into creating vehicles with reduced greenhouse gas (GHG) emissions and fuel consumption. Their utilization of low-cost parts and effective features has a big influence on overall automotive standards. Automakers are looking into new materials and forms for cars in an effort to reduce weight while increasing airflow. The development and supply logistics sectors' growing demand for avenue and transport expansion is thus anticipated to drive growth in the market for full automobiles. For instance, Panasonic Automotive Systems and Arm established a strategic alliance to standardize software-defined vehicle (SDV) automotive technology. From their active involvement in SOAFEE, a nationwide action that is promoting a stronger partnership in established software building across the automobile sector, both businesses have agreed on their shared vision of developing a software stack that is flexible enough to meet the needs of the automotive industry both now and in the years ahead.

Increasing Popularity in Electric Cars to Propel Market Growth

The complete automotive industry is driven by the growing popularity of electric vehicles. The government is promoting the sale of battery-operated cars by offering motorists financial rewards and improving the facilities necessary for electric automobiles, such as charging facilities across the nation, in response to the global decline in the atmosphere and increasing emission rates. The market for complete automotive is anticipated to grow along with the rise in revenues of electric automobiles. The municipality is investing a substantial amount of funds to stimulate the market for electric automobiles.

Restraint Factor for the Complete Automotive Market

Variable Pricing for Ingredients to Limit the Sales

The main components required to make vehicles are copper wires and steel framework. Availability of resources and price fluctuation are issues for suppliers and automakers. Variations in basic ingredient prices are restraining the worldwide automotive engine market's expansion. Furthermore, producers are unable to benefit from falling material prices due to extended supply agreements. Thus, if the resource or material's price drops, producers lose their edge and expense. Substantial production expenses and low consumption in emerging economies restrict the expansion of the market.

Impact of Covid-19 on the Complete Automotive Market

The COVID-19 pandemic has caused a great deal of economic and social disruption. The epidemic has impacted many firms' value chains and supply chains. This is also true of the whole automotive industry. Analysis of the COVID-19 pandemic's effects will be conducted from the viewpoints of the supply and demand sides of the business as a whole. Both immediate and long-term repercussions of the epidemic will be researched and examined. This would help all industry participants, especially suppliers...

The South American passenger car market, encompassing Brazil, Argentina, Chile, and other key nations, presents a dynamic landscape ripe with opportunities and challenges. While the market experienced fluctuations during the 2019-2024 historical period, likely influenced by economic volatility and global supply chain disruptions, a positive Compound Annual Growth Rate (CAGR) is projected for the forecast period of 2025-2033. This growth is fueled by several key drivers: a rising middle class with increased disposable income leading to higher car ownership; government initiatives promoting infrastructure development and automotive manufacturing; and the increasing popularity of fuel-efficient vehicles, particularly hybrids and electric vehicles (HEVs and EVs), driven by environmental concerns and government incentives. Segment analysis reveals that SUVs are likely to dominate the vehicle configuration segment, reflecting a global trend towards larger vehicles offering more space and versatility. Within the propulsion type segment, while Internal Combustion Engine (ICE) vehicles, especially gasoline-powered cars, will continue to hold significant market share in the near term, the adoption of HEVs and BEVs is expected to accelerate steadily throughout the forecast period, driven by technological advancements, decreasing battery costs, and expanding charging infrastructure. However, the market also faces significant restraints. Economic instability in certain South American countries poses a considerable challenge, impacting consumer purchasing power and impacting investment in the automotive sector. Furthermore, the region's underdeveloped charging infrastructure for EVs remains a barrier to faster EV adoption, alongside relatively higher initial purchase costs compared to ICE vehicles. Competition among established global automakers like Toyota, Volkswagen, and Hyundai, as well as regional players, is intense, leading to price wars and impacting profitability. Despite these challenges, the long-term outlook remains optimistic, with consistent growth expected, particularly in segments related to fuel-efficient and environmentally friendly vehicles. Strategic partnerships, technological innovations, and government policies focused on sustainable mobility will play a crucial role in shaping the market's trajectory in the coming years. The market's success hinges on navigating economic uncertainties and accelerating the infrastructure development needed to support the growing demand for alternative fuel vehicles. Recent developments include: December 2023: Mustang Mach-E is avaiable with electric all-wheel drive and has standard heated seats and steering wheel.December 2023: Toyota debuts the Corolla GR-S in Brazil. Its 2.0-liter Dynamic Force Atkinson flex cycle engine generates 177 horsepower when running on ethanol and 169 horsepower when running on gasoline, with 21.4 kgfm of torque in both cases.December 2023: Hyundai Motor unveiled its "Strategy 2025" blueprint, outlining KRW 61.1 trillion in investments for future technology research and development (R&D) until 2025. The goal is to electrify the majority of new vehicles in key markets such as Korea, the United States, China, and Europe by 2030, with emerging markets such as India and Brazil following suit by 2035.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

According to Cognitive Market Research, the global Automotive OEM Key market size will be USD 512.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 5.80% from 2025 to 2033.

North America held the major market share for more than 37% of the global revenue with a market size of USD 189.73 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2025 to 2033.
Europe accounted for a market share of over 29% of the global revenue with a market size of USD 148.71 million.
APAC held a market share of around 24% of the global revenue with a market size of USD 123.07 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.6% from 2025 to 2033.
South America has a market share of more than 3.8% of the global revenue with a market size of USD 19.49 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2025 to 2033.
Middle East had a market share of around 4% of the global revenue and was estimated at a market size of USD 11.28 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2025 to 2033.
Africa had a market share of around 2.2% of the global revenue and was estimated at a market size of USD 11.28 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2033.
Carbon Fiber is the fastest growing segment of the Automotive OEM Key industry

Market Dynamics of Automotive OEM Key Market

Key Drivers for Automotive OEM Key Market

Increasing Vehicle Production and Sales Is Expected To Boost Market Growth

As automobile manufacturers expand their production capacities to meet rising consumer demand, the need for OEM-supplied keys, including traditional mechanical keys, transponder keys, smart keys, and keyless entry systems, is also increasing. With more vehicles hitting the market, there is a parallel rise in demand for secure and technologically advanced key solutions that enhance both vehicle security and user convenience. Additionally, the growing preference for premium and high-end vehicles, which come equipped with advanced smart key systems, is further fueling market expansion. Luxury car manufacturers are integrating biometric authentication, smartphone-based digital keys, and proximity-based keyless entry systems to offer enhanced security and ease of access. In March 2025, the European Commission announced a three-year extension for automakers to meet new CO? emission targets, now effective from 2025 to 2027. This adjustment aims to provide the industry with more flexibility during the transition to electric vehicles, allowing companies to avoid fines by extending the deadline to 2027.

https://www.reuters.com/business/autos-transportation/eu-propose-giving-automakers-three-years-meet-co2-emission-targets-2025-03-03”/

Rising Demand for Advanced Vehicle Security Systems To Boost Market Growth

Modern vehicles are integrating RFID-based transponder keys, proximity sensors, and rolling code encryption to minimize security vulnerabilities. Additionally, smartphone-based digital keys, which use Bluetooth, NFC, and cloud-based authentication, are becoming increasingly popular, allowing vehicle owners to control access remotely. The ability to track, lock, and disable vehicles in case of theft is a crucial feature that is driving the adoption of advanced key technologies in both passenger and commercial vehicles. Furthermore, government regulations and safety mandates in various regions are pushing automakers to enhance vehicle security standards. Regulatory bodies in Europe, North America, and Asia-Pacific are emphasizing the need for secure authentication and anti-theft mechanisms, prompting OEMs to invest in innovative key solutions. As the automotive industry continues to evolve with advancements in connected cars, electric vehicles, and autonomous driving, the demand for highly secure, digitally integrated OEM key systems is expected to grow exponentially.

Restraint Factor for the Automotive OEM Key Market

Security and Hacking Concerns in Smart Keys, Will Limit Market Growth

As vehicles become increasingly connected and integrated with smart key technologies, concerns regarding security vulnerabilities and hacking threats are growing. Unlike traditional mechanical keys, smart keys rely on wireless communication protocols such as RFID, Bluetooth, and NFC, which can be susceptible to relay attacks, key cl...

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Automation Market In Automotive Industry Size 2025-2029

The automation market in automotive industry size is forecast to increase by USD 2.64 billion, at a CAGR of 4.5% between 2024 and 2029.

The Automation Market in the Automotive Industry is witnessing significant growth, driven by the increasing demand for enhanced visibility and flexibility in manufacturing processes. This trend is particularly prominent in the context of Industry 4.0, which emphasizes the integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), into manufacturing systems. The emergence of smart manufacturing is a key trend, as it enables real-time monitoring and optimization of production processes, leading to increased efficiency and cost savings. However, the market also faces challenges, most notably the security threats to industrial control systems. With the increasing adoption of connected technologies, there is a growing risk of cyber-attacks, which can disrupt manufacturing processes and compromise sensitive data. Addressing these security challenges is essential for companies seeking to capitalize on the opportunities presented by automation in the automotive industry. Effective strategies include implementing robust cybersecurity measures, such as firewalls and intrusion detection systems, and establishing clear protocols for data access and sharing. By addressing these challenges and leveraging the benefits of automation, companies can improve their competitive position and enhance their operational capabilities.

What will be the Size of the Automation Market In Automotive Industry during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe automotive industry continues to witness dynamic market activities as automation technologies evolve and find applications across various sectors. Machine learning algorithms and computer vision are integral components of advanced driver assistance systems (ADAS), enabling features such as object recognition, lane keeping assist, and blind spot monitoring. These technologies are also being integrated into public transportation, enhancing safety and efficiency. The integration of artificial intelligence (AI) and deep learning networks is revolutionizing the automotive industry, from infotainment systems to autonomous vehicle development. Edge computing and 5G connectivity facilitate real-time data processing and communication between vehicles, infrastructure, and cloud platforms. Hybrid and electric vehicles are gaining popularity, with battery management systems and powertrain optimization playing crucial roles in enhancing fuel efficiency and reducing emissions. Autonomous delivery vehicles and logistics and warehousing applications are also on the rise, contributing to the evolving automation landscape. The integration of ultrasonic sensors, V2X communication, and adaptive cruise control systems is essential for ensuring safety standards in autonomous vehicles. Human-machine interface (HMI) design and software development are critical aspects of developing user-friendly and effective autonomous systems. Fleet management and production line optimization are other areas where automation is transforming the industry. Ethical considerations, data privacy, and regulations and legislation are increasingly becoming important aspects of the automation market in the automotive industry. The continuous development of infrastructure, including charging infrastructure and traffic sign recognition systems, is essential for the successful implementation of autonomous vehicles. Ongoing validation and testing, along with real-world applications, are crucial for ensuring the reliability and safety of these advanced technologies. In the manufacturing sector, automation is being used to optimize production lines and improve quality control. The integration of AI, deep learning networks, and sensor fusion is enabling more efficient and effective manufacturing processes. The social impact of automation in the automotive industry is significant, with potential implications for job displacement and the future of work. As the market continues to evolve, it is essential to consider these factors and ensure a smooth transition towards a more automated future.

How is this Automation In Automotive Industry Industry segmented?

The automation in automotive industry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TechnologyIndustrial sensorsPLCMESSCADADCSEnd-userVehicle manufacturersComponent manufacturersGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACAustraliaChinaIndiaJapanSouth Ko

Learn more about Market Research Intellect's Automaker Car Subscriptions Market Report, valued at USD 3.2 billion in 2024, and set to grow to USD 12.5 billion by 2033 with a CAGR of 16.8% (2026-2033).

According to Cognitive Market Research, the Global Automotive Component Market Size was USD XX Billion in 2024 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2033.

North America held largest share of XX% in the year 2024 
Europe held share of XX% in the year 2024 
Asia-Pacific held significant share of XX% in the year 2024 
South America held significant share of XX% in the year 2024
Middle East and Africa held significant share of XX% in the year 2024 

Market Dynamics of the Automotive Component Market:

Key Driver for the Automotive Components Market

Increasing adoption of EVs leads to an increase in automotive components of EV boost the Automotive Component Market

Gas- and Diesel-powered vehicles have lower efficiency than EVs due to an increase in engine heat generation. EVs are more efficient and environment-friendly than fuel-based vehicles. The adoption of Electric vehicles significantly reduces the reliance on fossil fuels. The increase in the adoption of electric vehicles in India transforming the automotive industry. It directly impacts the demand for automotive components and the supply chain. Increasing EV adoption leads to an increase in demand for specific components. Government policies also play an important role in EV adoption. These policies promote domestic manufacturing that influences automotive components. EV adoption particularly demands for batteries and powertrain segment. For instance, India’s demand for EV lithium batteries will reach 139 GWh from 4 GWh by 2035. It will be driven by the demand for a light-weight vehicle. Also, EV adoption will contribute toward the demand for AC and DC chargers. The EV revolution leads to an increase in demand for other parts such as battery control modules, electronic control units, vehicle control units, sensors, controllers, motors, and electronic systems. Therefore, it will boost the automotive component market. The EV market in China, Europe, and the US is very hypercompetitive. For instance, in 2025, sales of EVs in the US increased by 15.2% year over year in Q4 of 2024. Tesla’s Model Y and Model 3 are the most selling EVs in the US. They have accounted for more than XX% share in 2024. This EV adoption in the US contributes to an increase in the automotive components market.

Key Restraint for the Automotive Components Market

Increasing Geopolitical Instability significantly hampers the growth of the Automotive Components Market

Geopolitical tensions and trade issues or disturbances can majorly impact the automotive supply chains. Tariffs, trade restrictions, and political instability promote disruptions in manufacturing regions in the flow of parts and systems. For instance, in 2024, the auto market is currently valued at USD 4 trillion and will reach USD 6 trillion by 2023. But the growth is hampered by the competition among countries such as the United States, China, and Europe. China’s presence is rapidly growing in the automotive industry. Chinese companies captured the most dominant country in EVs. Whereas, the production of internal combustion engines has stopped in Germany due to preeminence in the production. For example- robust competition pushed Volkswagen to shutter the factories in Germany. In the US, President Joe Biden has aimed at EV adoption to increase the supply chain market in the US. It includes the Inflation Reduction Act (IRA) considered the incentive to encourage investment in North American EVs. It has a goal to establish the demand and supply of vehicles produced within the continent. To develop this market, IRA excludes the Foreign Entities of Concern (FEOC). Its main target is Chinese Companies that looking to invest in North American supply chains of EVs. If these companies are a part of FEOC, they could not benefit from IRA tax credits.

Key Trends for the Automotive Components Market

Advanced Driver Assistance System (ADAS) Integration: Automakers are rapidly implementing ADAS features including automated braking, adaptive cruise control, and lane-keeping assistance. These technologies increase demand for sensors, cameras, and radar components while improving driving safety and experience. Component manufacturers are being compelled by this change to produce more inventive and valuable electronic systems. Transition to Sustain...