The North America Automotive Market Report is Segmented by Vehicle Type (Passenger Cars, Light Commercial Vehicles, and More), Propulsion Type (ICE, and More), Sales Channel (OEM-Franchised Dealer, and More), Level of Automation (Level 0–1, Level 2, Level 3, and Level 4–5), and Country (United States, Canada, Rest of North America). The Market Forecasts are Provided in Terms of Value (USD) and Volume in Units.

In 2023, around 27.45 million vehicles were sold globally. This is an increase of around 13.3 percent compared to 2022 sales. The United States is the largest market for commercial vehicles that year.

With related revenue of around 55.9 billion U.S. dollars in its 2023 fiscal year, Bosch was ranked as the world's largest automotive supplier that year. Bosch began to rise up through the ranks in 2014 when the company acquired ZF Friedrichshafen's steering systems. This move helped ZF seal a deal to acquire Michigan-based TRW. In 2016, other corporate actions included Johnson and Johnson's automotive seating business spin-off, which is henceforth known as Adient. The leading automotive suppliers worldwide Although motor vehicles are typically sold under a brand name, virtually all automotive manufacturing companies restrict themselves to designing and assembling automotive parts or component groups, most of which are provided by external suppliers. The auto parts that are likely to be manufactured by automotive supplier firms include exteriors, interiors and air conditioning components, electrical and electronic equipment, vehicle chassis, and powertrains. New challenges emerge for auto suppliers In light of growing environmental awareness and an increasing desire to connect vehicles to the internet, automotive suppliers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric vehicles and alternative fuel powertrains are set to shake up the automotive industry. It is expected that automotive suppliers will respond to changing market trends by increased spending on research and development activities.

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The automotive dashboard market share is expected to increase by 17.69 million units from 2021 to 2026, at a CAGR of 3.70%. This automotive dashboard market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The automotive dashboard market report also offers information on several market vendors, including Continental AG, Dongfeng Motor Parts and Components Group Co. Ltd., Faurecia SE, Lear Corp., Marelli Holdings Co. Ltd., Minda Corp. Ltd., SAIC Motor Corp. Ltd., Sterling Technologies Inc., Toyoda Gosei Co. Ltd., and Visteon Corp. among others. Furthermore, this report extensively covers automotive dashboard market segmentation by vehicle type (passenger vehicles and commercial vehicles) and geography (APAC, North America, Europe, South America, and MEA).

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Automotive Dashboard Market: Key Drivers, Trends, and Challenges

The rising adoption of advanced driver assistance systems is notably driving the automotive dashboard market growth, although factors such as sharp decline in automobile production and sales may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive dashboard industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Dashboard Market Driver

One of the key factors driving growth in the automotive dashboard market is the rising adoption of advanced driver assistance systems. The adoption of advanced driver assistance systems coupled with the increasing levels of electrification in vehicles are transforming the dashboards of both passenger and commercial vehicles. The role of infotainment systems will become primary for the smooth operation of the vehicles and for ensuring passengers' safety, security, and comfort. With the evolution of technology, automotive dashboards will undergo significant changes in the near future, provisioning an enormous scope for the market to expand during the forecast period. The trends in the automotive industry, such as connected vehicles, autonomous vehicles, and electric vehicles, will shift the focus of automakers to interiors for product differentiation to attract customers. Thus, it would further propel the demand for innovative and up-to-date automotive dashboards during the forecast period.

Key Automotive Dashboard Market Trend

The technological developments creating demand for digital dashboards is another factor supporting the automotive dashboard market share growth. With the advancements in technology, newly introduced dashboards have also been integrating the display of gauges and controls, as well as information, climate control, and entertainment systems. The demand for digital dashboards is largely dependent on sales of premium and luxury vehicles, as these dashboards are of high cost due to the integration of the latest technology. The was a gradual rise in the demand for luxury and premium vehicles in 2021 leading to a rise in demand for digital automotive dashboards. The increase in demand for luxury and premium vehicles will further drive the demand for digital dashboards during the forecast period leading to significant growth in the global automotive dashboard market.

Key Automotive Dashboard Market Challenge

The sharp decline in automobile production and sales will be a major challenge for the automotive dashboard market during the forecast period. All passenger vehicles and commercial vehicles have a dashboard. Therefore, the overall production and sales of automobiles will impact the global automotive dashboard market. Since 2018, the global automotive market has been registering a slump in sales and production, leading to a decline in the demand for several automotive components, such as automotive dashboards. In other major automotive manufacturing countries, such as India, Japan, and the US, automotive production registered growth during 2017-2018. However, a slowdown in the growth rate of the sales of vehicles in 2019 and 2020 is increasing the inventory cost for OEMs and compelling them to reduce or temporarily stop production. Such factors adversely affect automotive sales and production, which further reduce the demand for automotive components and parts in the global automotive market and hamper the growth of the global automotive dashboard market.

This automotive dashboard market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trend

Strong growth in developing economies, like the BRICS and ASEAN member nations, has driven revenue for global car dealers despite slowdowns in established economies, like North America and Europe. Developed economies focus largely on value-added car purchases, while emerging markets focus primarily on volume. The transition to SUVs and crossovers with more safety and entertainment features has driven growth; in particular, these models' surging adoption rates have created numerous growth opportunities in developing economies. Even so, climbing interest rates across most key markets and faltering global consumer sentiment have somewhat constrained post-pandemic growth. Overall, revenue has expanded at an expected CAGR of 0.7% to $4.4 trillion through the current period, including a 2.1% jump in 2024, where profit reached 2.3%. Supply chain disruptions made new cars significantly more expensive, increasing inventory costs. Similarly, semiconductor and electronic component shortages reduced supply, leaving dealers with limited inventories. Even so, dealers were largely able to leverage torrid demand and pass added costs onto buyers, creating opportunities for revenue and profit growth. Volatile oil supply chains amid the Russia-Ukraine conflict also contributed to swelling demand for more fuel-efficient vehicles. Companies have also integrated online services to make the car-buying process simpler and more accessible, enabling them to combat heightened competition and access a wider network of buyers. The penetration of online platforms has transformed the car sales landscape, favoring larger dealership franchises over independent companies. Car dealers will continue to contend with substitutes, even as economic conditions improve and consumer sentiment rebounds through the outlook period. Government incentives and upstream innovations will also spur demand for electric and hybrid vehicles, generating strong per-unit revenue from dealers. Even so, slowing EV adoption rates in North America may dampen this segment's growth potential. Consumer preferences will also continue to trend toward online vehicle shopping, which provides convenience and efficiency to busy consumers, creating greater competition with various online dealers. Overall, revenue will climb at an expected CAGR of 2.5% to $4.9 trillion through the outlook period, where profit will reach 2.3%.

In 2023, around 13.1 million commercial vehicles were produced in North America. Commercial vehicle production fell globally between 2019 and 2021 due to the COVID-19 pandemic, including North American production, but picked back up in 2022. The region remained the leading commercial vehicle producer, with around one in two commercial vehicles manufactured in North America in 2023. Trucks move the U.S. economy Pickups and light trucks such as the Ford F-450 were extremely popular in the United States, straddling commercial and personal use. Additionally, their heavy-duty counterparts sold well in a market that has active agricultural, manufacturing, and construction industries. One of the largest commercial vehicle segments in the United States was road freight, as trucks accounted for about 62 percent of freight movements in the country in 2020. U.S. truckers hauled about 10 billion tons worth of goods across large distances of the country on highways and to areas not served by rail. Slowing global demand A downturn in the global economy and its impact on commercial vehicle demand posed a concern for manufacturers in 2022. The impact of the 2020 coronavirus pandemic on the transportation and logistics industry is still being felt across the industry, with manufacturing plants continuing to struggle due to national lockdowns and global demand dropping. However, the supply chain struggled with this rise in demand as semiconductor stocks remain dwindling, leading to a global automotive semiconductor shortage which impacted manufacturers' output and inventory.

India Automobile Market Size Was Worth USD 4,376,491 Units in 2023 and Is Expected To Reach USD 8,367,345 Units by 2032, CAGR of 10%.

Automotive After-Sales Service Market size was valued at USD 1002.12 Billion in 2023 and is projected to reach USD 1407.10 Billion by 2030, growing at a CAGR of 5% during the forecast period 2024-2030.

Global Automotive After-Sales Service Market Drivers

The market drivers for the Automotive After-Sales Service Market can be influenced by various factors. These may include:

Boosting Automobile Sales: The need for after-sales services is directly impacted by the general increase in car sales worldwide. The demand for upkeep, repairs, and replacement parts increases as more cars are sold. Expanding Auto Park: The number of automobiles on the road is rising, which supports a growing aftermarket for automotive services. The need for maintenance, repairs, and replacement parts is fueled by an ageing car fleet. Increasing Complexity of Vehicles: Complex systems and cutting-edge technologies are standard on modern cars. The necessity for specialist after-sales services, such as software updates, diagnostics, and repairs for electronic componentry, is fueled by this complexity. Pay Attention to Customer Retention: After-sales care is emphasised by automakers and service providers as a way to increase client happiness and loyalty. Providing high-quality upkeep and repair services can encourage recurring business and enhance brand recognition. Technological Progress: Professional services are becoming more and more necessary due to advancements in automotive technology, such as linked cars and sophisticated safety measures. This covers maintenance of complex components, software updates, and diagnostics based on telematics. Raising Knowledge About Preventive Maintenance: Preventive maintenance is getting more and more popular among fleet operators and consumers. The need for scheduled maintenance services will rise as a result of the ability to prevent significant breakdowns through timely repairs and routine servicing. Increasing Net Worth: Consumers are more prepared to spend money on after-sales care and vehicle maintenance as disposable incomes rise. This pattern is especially noteworthy in developing nations where the middle class is expanding. Effect of E-commerce on Sales of Parts: The quick access to car parts is made possible by the proliferation of e-commerce platforms. A large selection of replacement parts are available online for customers and service providers, which boosts aftermarket sales. Extensive Criteria for Emissions: The need for services pertaining to emission control systems, catalytic converters, and other parts that help satisfy environmental standards is driven by regulatory requirements for lower emissions. Hybrid and electric car adoption: For after-sales service providers, the growing popularity of electric and hybrid vehicles brings both new opportunities and difficulties. This covers the upkeep of battery systems, electric drivetrains, and associated parts. The growth of service networks: To access a larger consumer base, automakers and service providers are growing their service networks internationally. This entails setting up authorised workshops, service centres, and alliances with independent repair facilities.

The global used car market, valued at $166.17 billion in 2025, is projected to experience robust growth, driven by several key factors. Rising vehicle prices in the new car market are pushing more consumers towards the pre-owned segment, creating significant demand. Furthermore, the increasing popularity of online car buying platforms and innovative financing options is streamlining the purchasing process and attracting a wider range of buyers. The shift towards subscription-based car ownership models also contributes to the market's expansion, offering flexible and convenient alternatives to traditional car ownership. The market is segmented by distribution channels, with third-party dealerships and OEM (Original Equipment Manufacturer) channels both playing significant roles. Competition is fierce amongst established players like Asbury Automotive Group, AutoNation, and CarMax, alongside newer entrants like Carvana and Vroom, leading to innovative strategies focused on online sales, inventory management, and customer experience enhancements. Geographical variations in market size and growth are expected, with North America and Europe representing substantial portions of the global market, followed by Asia-Pacific which demonstrates significant growth potential. Regulatory changes impacting emissions standards and vehicle safety are expected to influence market dynamics, potentially accelerating the adoption of newer, cleaner used vehicles. The overall outlook for the used car market remains positive, with continued growth expected throughout the forecast period. The market's growth trajectory will likely be influenced by macroeconomic factors such as economic growth, interest rates, and consumer confidence. Fluctuations in fuel prices also have the potential to affect demand. While challenges such as supply chain disruptions and the availability of certified pre-owned vehicles might temporarily impact market performance, the long-term outlook remains favorable, driven by the ongoing shift in consumer preferences and technological advancements in the automotive industry. Effective inventory management, customer relationship management, and adapting to emerging technologies will be critical success factors for companies operating within this competitive landscape. The growing emphasis on sustainability and environmental concerns is also likely to influence the market, with demand for used electric and hybrid vehicles expected to increase.

The APAC Automotive High Performance Electric Vehicles Market report segments the industry into By Propulsion Type (Plug-In-Hybrid Vehicle, Pure Electric Vehicle), By Vehicle Type (Passenger Cars, Commercial Vehicles), and By Country (China, Japan, India, South Korea, Rest of Asia-Pacific). Get five years of historical data alongside five-year market forecasts.

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US Used Car Market Size 2025-2029

The US used car market size is forecast to increase by USD 40.2 billion, at a CAGR of 4.3% between 2024 and 2029.

The used car market in the US is witnessing significant growth, driven by the excellent value proposition that used cars offer to consumers. The increasing popularity of websites dedicated to selling used cars has expanded market reach and convenience, allowing consumers to browse and purchase vehicles online. Stringent emission regulations are restricting the sales of non-compliant used cars, necessitating investments in upgrading and maintaining commercial vehicle fleets to meet regulatory requirements. These regulations necessitate investments in emission testing and certification processes, increasing operational costs for dealers. To capitalize on opportunities, dealers can focus on offering certified pre-owned vehicles and implementing robust emission testing procedures.
Additionally, leveraging digital marketing strategies and offering flexible financing options can help attract and retain customers. Overall, the used car market presents both challenges and opportunities for players, requiring strategic planning and innovation to succeed.

What will be the size of the US Used Car Market during the forecast period?

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The used car market in the US continues to evolve, with various sectors adapting to emerging trends and technologies. Vehicle data analysis plays a pivotal role in understanding vehicle depreciation curves and return on investment for dealers. Payment processing systems streamline sales transactions, while sales performance metrics and customer lifetime value inform strategic decision-making. Fraud detection systems ensure compliance with legal standards, and insurance cost factors influence acquisition channel efficiency. Inventory turnover rate, a key performance indicator, varies across dealerships. Compliance audits and dealer training programs maintain legal compliance and improve customer satisfaction. Market penetration rate and resale value prediction help dealers optimize pricing models.
Consumer protection laws and financing product offerings shape customer trust and loyalty. Operating costs analysis, customer service feedback, and sales conversion rates contribute to profit margin calculation. Risk assessment models, employee performance metrics, marketing spend efficiency, and pricing model validation are essential for long-term success. A recent study reveals a 5% increase in sales for dealerships implementing advanced data analytics. Industry growth is expected to reach 3% annually, driven by these evolving market dynamics.

How is this market segmented?

The US used car market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  3P channel sales
  OEM channel sales


Product

  Mid size
  Full size
  Compact size


Vendor Type

  Organized
  Unorganized


Fuel Type

  Diesel
  Petrol


Geography

  North America

    US

By Distribution Channel Insights

The 3P channel sales segment is estimated to witness significant growth during the forecast period.

The used car market in the US is an active and dynamic sector, driven by various factors. With the constant launch of new vehicle models, the supply of used cars increases, resulting in lower prices compared to new cars. This trend encourages car owners to sell their vehicles and upgrade to newer models, shortening the average ownership cycle. Online advertising platforms play a significant role in connecting buyers and sellers. Pre-purchase inspections and vehicle history reports ensure transparency and build trust. Repairs cost estimation and parts sourcing networks help in managing the expenses of used car ownership. Market segmentation strategies cater to different customer needs, while customer relationship management tools foster loyalty.

Emissions testing standards ensure the environmental sustainability of used vehicles. Auto appraisal value tools help in determining fair prices, and loan term comparison aids in financing decisions. Marketing campaign effectiveness is measured through customer acquisition cost and interest rate calculation. Mobile apps offer functionalities like mechanical inspection checklists, paint depth measurement, and damage assessment tools. Dealer inventory management, detailing services, and vehicle photography techniques enhance the sales process. Industry growth is expected to continue, with the used car market projected to expand by 3% annually. For instance, a dealership successfully increased its sales by 15% thr

The Mexico automotive market attained a volume of 63.90 Thousand Units in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.50% to reach a volume of 99.23 Thousand Units by 2034. The market is being driven by the growing manufacturing and export of vehicles in the country.

Key Insights and Trends:

• By region, The Bajío is projected to register a CAGR of 4.8% over the forecast period.
• By vehicle type, sports utility vehicles are projected to grow at a CAGR of 5.0% over the forecast period.
• By engine type, hybrid and electric vehicles are expected to grow at a CAGR of 7.4% over the forecast period, due to urban air quality concerns.

Market Size & Forecast:

• Market Volume in 2024: 63.90 Thousand Units
• Projected Market Volume in 2034: 99.23 Thousand Units
• CAGR from 2025 to 2034: 4.50%
• Dominant Regional Market: Central Mexico

Motor vehicle production increased in all regions in 2023. The growth rate of motor vehicle production in Europe reached 13 percent compared to the previous year. In contrast, the production value of the motor vehicle manufacturing industry in the Commonwealth of Independent Stats increased by 23 percent compared to the 2022 level. In 2023, the global production of passenger cars increased by over six million units compared with 2022.

The Automotive 3PL Market report segments the industry into By Type (Finished Vehicle, Auto Component), By Service (Transportation, Warehousing, Distribution, and Inventory Management), and By Region (North America, South America, Asia-Pacific, Middle East and Africa, Europe). Get five years of historical data alongside five-year market forecasts.

The Semiconductor Memory Market for Automotive Report is Segmented by Technology Role (Code Storage, Working Memory, and More), Memory Type (DRAM, NAND Flash, and More), Application (ADAS and Automated Driving, Digital Cockpit, and More), Vehicle Type (Passenger Cars, Light Commercial Vehicles, and More), and Geography (North America, South America, Europe, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Morocco Automotive Market Report is Segmented by Vehicle Type (Passenger Vehicles and Commercial Vehicles), Drive Type (ICE, HEV, PHEV, BEV, FCEV), Fuel Type (Gasoline, Diesel, Alternative Fuels (CNG/LPG/Biofuels)), End-Use Sector (Personal Use, Taxi & Ride-Hailing, and More), and Sales Channel (OEM-Authorized Dealerships and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The global motor vehicle market, valued at $2,832,580 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 3.0% from 2025 to 2033. This growth is driven by several key factors. Rising disposable incomes in developing economies, particularly in Asia-Pacific regions like India and Southeast Asia, are fueling increased demand for personal vehicles. Furthermore, advancements in automotive technology, such as the adoption of electric vehicles (EVs) and autonomous driving features, are stimulating market expansion. Government initiatives promoting sustainable transportation and infrastructure development in several countries further contribute to this positive trajectory. However, the market faces certain challenges. Fluctuations in raw material prices, particularly for metals and semiconductors, can impact production costs and profitability. Stringent emission regulations and the ongoing transition towards greener technologies also present significant hurdles for traditional manufacturers. The market is segmented by vehicle type (cars, buses, trucks, motorcycles) and application (household, commercial), with the car segment dominating the overall market share. Major players like Toyota, Volkswagen Group, Daimler, and others are strategically navigating these dynamics through investments in R&D, strategic partnerships, and diversification of their product portfolios. The segmentation of the market reveals a significant concentration in the car segment, which holds a substantial share of the overall market value. The commercial application segment is also experiencing significant growth, driven by the expanding logistics and e-commerce sectors. Regional analysis indicates that Asia-Pacific, particularly China and India, represents a major growth engine, while North America and Europe continue to be substantial markets, albeit with potentially slower growth rates compared to developing regions. The forecast period (2025-2033) anticipates continued expansion, though the pace might be influenced by global economic conditions and technological disruptions. Companies are investing heavily in electric and hybrid vehicle technologies to meet evolving consumer preferences and regulatory requirements. This sustained investment and innovation promise significant growth opportunities, even amidst the challenges.

The India Luxury Car Market Report is Segmented by Vehicle Type (SUV, Sedan and More), Drive Type (IC Engine, Hybrid and More), Price Range (INR 20 L- 50 L, INR 50 L - 80 L and More), Sales Channel (Company-Owned Showrooms, Authorized Dealerships/Franchise and More) and Region. The Market Sizes and Forecasts are Provided in Terms of Value (USD).

The global compact car market, a significant segment within the broader automotive industry, is experiencing dynamic shifts driven by evolving consumer preferences and technological advancements. The market, estimated at $500 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This growth is fueled by several key factors. Increasing urbanization in developing economies is leading to a higher demand for fuel-efficient and maneuverable vehicles, perfectly aligning with the compact car profile. Furthermore, stringent emission regulations globally are pushing automakers to prioritize fuel efficiency and hybrid/electric technologies, which are becoming increasingly prevalent in compact car models. The rising popularity of connected car features and advanced driver-assistance systems (ADAS) is also contributing to the market's expansion, with consumers seeking enhanced safety and convenience features in their vehicles. Major players like Honda, Toyota, Volkswagen, and others are aggressively investing in research and development to improve fuel economy, incorporate sustainable materials, and enhance technological integration in their compact car offerings. However, the market faces certain restraints. Fluctuations in fuel prices can impact consumer purchasing decisions, while the increasing cost of raw materials and technological components pose challenges to manufacturers' profitability. The rise of electric vehicles (EVs) and the increasing affordability of larger vehicles also present competitive pressure to the compact car segment. Nevertheless, the continuous innovation in engine technology, the ongoing focus on improved safety and fuel efficiency, and the persistent demand in emerging markets are expected to sustain the growth trajectory of the compact car market throughout the forecast period. Segment analysis reveals strong performance in Asia-Pacific and Europe, driven by differing factors such as affordability and stricter emission standards, respectively.

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The automotive market share in GCC is expected to increase by 346.37 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.74%.

This automotive market in the GCC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the automotive market in GCC segmentations by type (passenger cars and commercial vehicles) and geography (Saudi Arabia, UAE, Kuwait, and Others). The automotive market in GCC report also offers information on several market vendors, including BMW AG, Daimler AG, General Motors Co., Hyundai Motor Co., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Stellantis NV, Toyota Motor Corp., and Volkswagen AG among others.

What will the Automotive Market Size in GCC be During the Forecast Period?

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Automotive Market in GCC: Key Drivers, Trends, and Challenges

The growing investment in smart cities is notably driving the automotive market growth in GCC, although factors such as the shutdown of manufacturing and production units may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive industry in GCC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Market Driver in GCC

One of the key factors driving the automotive market growth in GCC is the growing investment in smart cities driven by growing urbanization, which has resulted in the continuous expansion of urban areas, leading to a shortage of land availability.
According to the World Bank Group estimates, the share of the urban population is expected to reach 90% of the total population by 2050 in the GCC. Hence, the concept of smart cities is gaining momentum globally. For instance,

  In June 2020, Huawei and Smart City Solutions Company (SC2), a leading Saudi Arabian service provider and operator and part of the Batic Group, signed an agreement to collaborate on smart city projects in Saudi Arabia.


Smart cities will provide smarter solutions that can be deployed to reduce the strain due to urban population growth; these solutions will include the introduction of energy-efficient road networks leading to efficient public transportation systems.
The growing momentum of smart cities and massive investments in their development are expected to spur the growth of the automotive market in GCC during the forecast period.

Key Automotive Market Trend in GCC

Another key factor driving automotive market growth in GCC is the technological advances in EVs.
The growing adoption of EVs is offering new opportunities for different stakeholders, such as system integrators, vehicle manufacturers, engine manufacturers, and component providers.
Consumers have become aware and started understanding the benefits of EVs and the government is supporting the trend with incentives.
EV vendors will be trying to cater to the increasing demand and provide better options during the forecast period.
Vendors are investing more time and energy in R&D and coming up with better models of EVs. For instance;

  In December 2021, General Motors announced its plan to launch 15 EVs in the GCC by 2025.


These factors are expected to positively impact the market in focus during the forecast period.

Key Automotive Market Challenge in GCC

One of the key challenges to the automotive market growth in GCC is the shutdown of manufacturing and production units as the COVID-19 pandemic severely affected this sector, especially in 2020 and early 2021.
Various countries had imposed nationwide lockdown to stop the spread of the disease and had also stopped cross-border trade. This resulted in an increase in the price of raw materials and components required for manufacturing vehicles.
The absence of customer footfalls across automobile showrooms, owing to the implementation of stringent lockdowns, resulted in the shutdown of automobile production units in the region.
Such factors are expected to negatively impact the growth of the automotive market in GCC during the forecast period as well.

This automotive market in GCC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the automotive market in GCC as a part of the global automotive market. Our research report has extensively covered external factors influencing the pa