Global Automobile sector is a major manufacturing segment. The industry is estimated to be worth trillion dollars. Automobiles comprise a range of transport vehicles, utility vehicles, passenger buses, two-wheelers, and, more significantly, passenger cars. Passenger cars along constitute a major portion of production and sales. Within the car segment, there are sub-segments like standard, economy and luxury models.
Automobiles have traditionally been manufactured from technically advanced regions - U.S., Germany, Japan and a few European automobiles manufactu...
View more Global Automobile sector is a major manufacturing segment. The industry is estimated to be worth trillion dollars. Automobiles comprise a range of transport vehicles, utility vehicles, passenger buses, two-wheelers, and, more significantly, passenger cars. Passenger cars along constitute a major portion of production and sales. Within the car segment, there are sub-segments like standard, economy and luxury models.
Automobiles have traditionally been manufactured from technically advanced regions - U.S., Germany, Japan and a few European automobiles manufacturers. But, in order to reap economies of production and leverage on volume sales, most these leading manufacturers have extended their facilities to low-cost centers India and China. Parallel to this shift to low-cost centers, production facilities have regularly been mushrooming around emerging markets as well. This radical shift in production policies has considerably reduced the market prices and benefited consumers a big way.
Automobile industry has always thrived on innovation; fuel-efficiency, comfort, and accessories have continually been redefined from time to time. Despite being progressively attractive industry, manufacturers would still need to be on guard amidst intense competition, changing consumer preferences, global environment & safety policies.
Challenges and Opportunities
While manufacturers have modeled their offerings as per region-specific preferences, many-a-versions have failed on account of inept market research. Even as many believe it apt to offer standardized versions, manufacturers would still be better off with adaptive approach.
The world is fast- moving towards hybrid technology - which enables optimum performance at minimal fuel consumption. While each of the players in the industry is aware of the technology, market leadership will only belong to the one who is proactive and ahead of the rest.
Accessories and utilities too have considerable influence on consumer decision-making process. Inbuilt navigation, entertainment and safety systems often lend that elusive competitive edge. Therefore, automobile manufacturers may well have to forge alliance with suppliers of such utilities and accessories.
Most importantly, 'GO Green' is fast catching up. With global cry against alarming levels of carbon emission intensifying, automobile manufacturers may well have to be the first to respond responsibly. Consequently, electric-run or bio-fuel compatible engines could become the norm in the foreseeable future. Therefore, automobile manufacturers need to be proactive and far-sighted in designing engines that run on electrical and bio-fuel.
Market Dynamics
Automobiles market is often driven by consumer preference and demand. Generally, there would be impressive growth in such consumer preferences and demand, which should keep manufacturers excited and encouraged. While markets in US, Japan, Germany, UK and Russia would still sustain the same or a slightly better rate of penetration, it is the emerging markets in China, India, Latin America, the Gulf and African that would eventually drive up revenues for manufacturers.
RnRMarket Research's UVP
RnRMarket Research's catalogue for automobile-specific reports and statistics comprises compilation of works by authentic researchers and agencies, whose insightful studies are revered to be business and operational guidelines for global automobile sector.
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