Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Outlook and Growth Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
In 2023, the global light vehicle industry experienced a 6.5% growth, driven by economic recovery and resolved semiconductor chip supply chain challenges. China, the United States, India, Japan, and Germany experienced positive growth. China took the lead with 11% YoY growth in vehicles sold.
Of the 14.1 million EVs sold in 2023, 70% were BEVs. and 30% were PHEVs. As a result, EV penetration increased from 13% in 2022 to 15.8% in 2023. BYD and Tesla remained the top participants with unit sales of 2.9 million and 1.8 million, respectively.
The growth trajectory of the automotive industry will focus on EVs, connectivity, and digitization. Vertical integration of EV-related capabilities will help OEMs mitigate against supply chain disruptions, increase efficiency, and establish competitive advantages.
The shift toward EVs, connected features, digitization, and autonomy will increase the demand for new skills in automotive manufacturing, with particular focus on software and IT professionals. Increasing connectivity and real-time data regarding vehicle operation and the health of various components are enabling the rise of prognostic and remote diagnostic solutions. EVs will require best-in-class battery management solutions that can aid in optimal battery design, health and performance monitoring, and failure prediction while deployed, and residual value prediction at the product's end of life. Significant advancements in connectivity, electrification, and sustainability will support sector growth in 2024, despite challenges related to higher incentives and increased pricing pressure.
Generative AI is transforming the automotive sector. It is impacting vehicle design, navigation, predictive maintenance, voice assistants, manufacturing, supply chain, and quality control, and enhancing the safety, efficiency, and personalization of in-car interactions. OEMs will be operating in a more challenging environment, with a focus on higher incentives and increased pricing pressure at a time when labor costs are already squeezing profit margins. Advancements in connectivity, electrification, and sustainability will bring about transformative changes in the industry.
Key Topics Covered:
Transformation in Global Automotive Market 2024
- Why Is It Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Global Automotive Industry
Growth Environment
- Key Findings: A Recap of 2023
- Key Findings: Top 10 Predictions for 2024
- Snapshot: Global LV Sales by Region in 2023 and 2024F
Ecosystem
- Research Scope
- Vehicle Segmentation
- Segmentation
Global Automotive Sales Insights
- Global LV Sales by Region in 2023 and 2024F: Snapshot
- Top Country Markets in 2023
- Top 5 Country Markets by Sales Volume in 2023
- Top 5 Regions by Sales Volume
- Major Automotive OEM Performance in 2023
- Global LV Sales of Top 10 Chinese OEM Groups
- OEM Market Share by Top 5 Region/Country, 2023
Global LV Trends, 2024
- Multipronged Approach to Shortlist Top Trends
- Top Automotive Trends, Global, 2024-2026
- Surging Chinese EV Exports
- PV Export Highlights
- Acceleration in SDV Development
- Alternative Battery Chemistries
- Development of V2G-Compatible Vehicles
- Generative AI in Automotive
Growth Generator: Global Shared Mobility Outlook, 2024
- Regulations and Mandates: A Snapshot
- Top Trends Driving the Global Shared Mobility Industry in 2024
- Shared Mobility *GMV by Region
- Profitability
- Top 10 Shared Mobility Predictions for 2024
Growth Generator: Connectivity and Telematics Outlook, 2024
- Regulations and Mandates: A Snapshot
- Top Trends Driving the Global Connected Vehicle Industry
- Connected Vehicle Sales by Region
- Top 10 Connected Vehicle Predictions for 2024
Growth Generator: Global Automotive Electric Vehicle Outlook, 2024
- 2023 Highlights
- Top Trends Driving the Global EV Industry in 2024
- Global Electric Vehicle Market 2023 and 2024F
- Global EV Battery Industry Overview 2024
- Top 10 Electric Vehicle Predictions for 2024
Growth Generator: Global Autonomous Outlook, 2024
- Autonomous Vehicle (AV) Regulations Overview: Global
- Top Trends Driving the Global ADAS and AD Industry
- ADAS and Autonomous Vehicle Sales Forecast
- Top 10 Autonomous vehicles Predictions for 2024
Growth Generator: Global Automotive Aftermarket Outlook, 2024
- Notable Regulations and Mandates: A Snapshot
- Top Trends Driving The Global Automotive Aftermarket In 2024
- Global Light Vehicles in Operation
- Global Automotive Aftermarket Revenue Outlook
- Top 10 Automotive Aftermarket Predictions for 2024
Regional Highlights for 2023 and Forecasts for 2024
- Regional Performance: North America
- Regional Performance: Europe
- Regional Performance: LATAM
- Regional Performance: APAC
Growth Opportunity Universe
- Growth Opportunity 1: Connectivity to Improve Road Safety
- Growth Opportunity 2: Integrated and Autonomous Technology Capabilities
- Growth Opportunity 3: Private Labeling
Best Practices Recognition
A selection of companies mentioned in this report includes, but is not limited to:
- BYD
- Tesla
For more information about this report visit https://www.researchandmarkets.com/r/u8xr4d
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