Automotive Market in Europe: Industry, Driving Strong Demand in 2021 & Beyond

Automotive Market in Europe size is expected to reach US$ 27.14 Bn. by 2029, at a CAGR of 8.9% during the forecast period.

Automotive Market in Europe Overview:

The automotive industry is essential for Europe’s prosperity. The automotive segment offers direct & indirect jobs to 13.8 Mn Europeans, representing 6.1 percent of total Europeans employment. 2.6 Mn people work in direct manufacturing of motor vehicles, signifying 8.5 percent of EU employment in manufacturing. The Europe is among the world's major producers of motor vehicles & the segment represents the largest private investor in R&D. To strengthen the attractiveness of the Europe automotive industry & preserve its worldwide technological leadership, the European Commission supports global technological harmonization & offers funding for Research & Development. Automotive Market in EuropeTo Know About The Research Methodology :- Request Free Sample Report 80 percent of the development in the sector is anticipated to happen outside the Europe. The Europe’s efforts should focus on closing & enforcing special trade & investment agreements. These will make it easier for European firms to access 3rd markets & continue benefiting from economies of scale.

Automotive Market in EuropeEurope’s automotive industry & Covid-19:

The COVID-19 pandemic has shaken Europe’s automotive industry to its core, with a grouping of travel bans, plant shutdowns & limited customer spending power spelling disaster for the new vehicle market. The MMR study report currently estimates a 25 percent drop in passenger car registrations in the Europe, falling from 12.8 Mn last year to just 9.6 Mn units in the year 2020. Recent figures from study report revealed that new car registrations in the Germany had fallen 61 percent in April, & 50 percent in May. In Italy, Fiat Chrysler Automobiles expects car sales will slide 35 percent by the end of the year, with sales reportedly close to zero for the months of March & April. A government bailout further shows the seriousness of the problem, with the auto company securing a state-backed loan of USD 7.1 billion. In France, the government has agreed to a €5 billion loan to Renault an auto company in which it holds a 15 percent stake. The covid-19 has also tempered Europe’s drives for autonomous driving, with reports of many programmes being pushed back to ensure funds are engaged toward critical operations. BMW’s declaration that €30 billion would be invested in electric & autonomous technology by 2025 would look to have been declared at an unfortunate time: a nationwide lockdown in Germany was imposed just days later. Newly announced partnerships between Mercedes-Benz & Nvidia, as well as Volvo & Waymo, would show that long-term goals for automation remain a long-term priority.

Damage piles up:

The loss to the European car industry from the COVID-19 pandemic is piling up, after French auto sales jumped in March & a main parts supplier, Continental, scrapped its outlook. French registrations fell 72% compared to March 2019. Distinctly, Germany’s Continental drew financial guidance for the year & said more than 40 % of its plants have shut. Important in sustainable mobility puts Europe on a path towards zero-net-impact releases of passenger cars & commercial vehicles: Automotive Market in Europe2


Automotive Market in Europe3

Diversity of Technology:

Europe is home to numerous global players, each a player in a particular market or shopper segment. A collaborative spirit among these tech players is a foundation for future global success. Furthermore, Europe is home to many market leading hidden key players. Depending on the meaning, up to 75 % of hidden global champions focused in a variety of technologies have their roots in Europe. The sheer invention power of the region can be showed by the fact that roughly 60 % of all global patents in autonomous driving are filed by European companies. New technology invention: Europe should act as an invention & technology leader for future mobility in specific with regard to autonomous driving & connectivity by leveraging its position at the lead of ADAS research. Europe’s automotive players as symbols of quality & safety are probably in the best place to shape & introduce those technologies. Business model invention: The European automotive industry should start a framework enabling OEMs to set up & run many business models like new mobility services like pay per use, location-based promotion, or over-the-air updates for connected vehicles. This framework would contain technological & regulatory standards to offer a fruitful breeding ground for new solutions by OEMs & start-ups. The report covers Commercial Vehicles, Passenger Vehicles, with detailed analysis Automotive Market in Europe industry with the classifications of the market on the Type, Application & region. Analysis of past market dynamics from 2017 to 2021 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it. The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced Type, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in four regions. The major states policies about manufacturing & Covid 19 impact on demand side are covered in the report.

Europe Automotive Market Scope : Inquire before buying

Automotive Market in Europe
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 13.72 Bn.
Forecast Period 2022 to 2029 CAGR: 8.9% Market Size in 2029: US $ 27.14 Bn.
Segments Covered: by Type • Passenger Vehicles • Commercial Vehicles • Three Wheelers • Two Wheelers

Automotive Market in Europe Key Players

• Honda • Volkswagen • Toyota • Nissan • Honda • Mazda • Mitsubishi • Mercedes-Benz • BMW • Porsche • Skoda • Land Rover • Audi Motors • Autoliv • Bosch • Continental • DAF Trucks • Daimler • Delphi • Denso • Deutsche Telekom • Ericsson • Eurofiber Frequently Asked Questions: 1. Which region has the largest share in Europe Automotive Market? Ans: United Kingdom held the highest share in 2021. 2. What is the growth rate of Europe Automotive Market? Ans: The Europe Automotive Market is growing at a CAGR of 8.9% during forecasting period 2022-2029. 3. What is scope of the Europe Automotive market report? Ans: Europe Automotive Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Europe Automotive market? Ans: The important key players in the Europe Automotive Market are – Honda, Volkswagen, Toyota, Nissan, Honda, Mazda, Mitsubishi, Mercedes-Benz, BMW, Porsche, Skoda, Land Rover, Audi Motors, Autoliv, Bosch, Continental, DAF Trucks, Daimler, Delphi, Denso, Deutsche Telekom, Ericsson, and Eurofiber. 5. What is the study period of this market? Ans: The Europe Automotive Market is studied from 2021 to 2029.
Europe Automotive Market 1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research Secondary data Secondary Sources 2.3.2. Primary Research Data from Primary Sources Breakdown of Primary Sources 3. Executive Summary: Europe Automotive Market Size, by Market Value (US$ Mn) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 5. Supply Side and Demand Side Indicators 6. Europe Automotive Market Analysis and Forecast 7. Europe Automotive Market Analysis and Forecast, by Type 7.1. Introduction and Definition 7.2. Key Findings 7.3. Europe Market Value Share Analysis, by Type 7.4. Europe Market Size (US$ Mn) Forecast, by Type 7.5. Europe Market Analysis, by Type 8. Europe Automotive Market Analysis 8.1. Europe Market Forecast, by Type 8.1.1. Passenger Vehicles 8.1.2. Commercial Vehicles 8.1.3. Three Wheelers 8.1.4. Two Wheelers 8.2. PEST Analysis 8.3. Key Trends 8.4. Key Developments 8.5. Europe Market Forecast, by Country 8.5.1. UK 8.5.2. France 8.5.3. Germany 8.5.4. Russia 8.5.5. Italy 8.5.6. Spain 8.5.7. Rest of Europe 8.6. PEST Analysis 8.7. Key Trends 8.8. Key Developments 9. Company Profiles 9.1. Market Share Analysis, by Company 9.2. Competition Matrix 9.2.1. Competitive Benchmarking of key players by price, presence, market share, Raw material and R&D investment 9.2.2. New Raw material Launches and Raw material Enhancements Market Consolidation M&A by Regions, Investment and Raw material M&A Key Players, Forward Integration and Backward Integration 9.3. Company Profiles: Key Players 9.3.1. Honda 9.3.2. Volkswagen 9.3.3. Toyota 9.3.4. Nissan 9.3.5. Honda 9.3.6. Mazda 9.3.7. Mitsubishi 9.3.8. Mercedes-Benz 9.3.9. BMW 9.3.10. Porsche 9.3.11. Skoda 9.3.12. Land Rover 9.3.13. Audi Motors 9.3.14. Autoliv 9.3.15. Bosch 9.3.16. Continental 9.3.17. DAF Trucks 9.3.18. Daimler 9.3.19. Delphi 9.3.20. Denso 9.3.21. Deutsche Telekom 9.3.22. Ericsson 9.3.23. Eurofiber

About This Report

Report ID 86487
Category Automotive and Transportation
Published Date March 2021
Updated Date Sept 2022