How much is the global car industry worth?

The UK automotive industry is a vital part of the UK economy worth more than £78.9 billion turnover and adding £15.3 billion value to the UK economy.

How big is the global automotive industry?

The global automotive industry is estimated to reach 1,14,250 thousand units by 2024. On the basis of type, the passenger car segment accounted for the larger market share of 75.09% in 2017, with a market value of 73,356 thousand; it is expected to register the higher CAGR of 2.9% during the forecast period.

How much is the automotive industry worth 2020?

The global automotive motors market size is projected to grow from USD 20,321 million in 2020 to USD 25,719 million by 2025, at a CAGR of 4.8%

What are the key segments in automotive industry?

What are the Key Segments in Automotive Industry?

• Light vehicles: These are motorcycles and cars used for business transportation involving goods and people.
• Trucks and buses: They are mainly commercial vehicles used for transportation of goods and people.

How are global value chains affecting the automotive industry?

In this paper, we apply global value chain (GVC) analysis to recent trends in the global automotive industry. We focus on how the recent economic crisis has accelerated pre-crisis trends towards greater importance of the industry in the developing world.

What are the prospects for the global automotive industry?

The paper shows that developing countries can increase the possibility of integration into the global value chains of transnational automotive companies by opening up their domestic markets. It concludes with emphasizing the importance of fostering networks of small firms in developing countries as a means of entering new markets.

When do fundamental readjustments to the whole automotive value chain seem inevitable?

Fundamental readjustments to the whole automotive value chain seem inevitable. It is still not clear, however, where the journey will end, as many developments are still speculative. For example: when will e-mobility (finally) be broadly accepted in the market?

Why is it important to invest in the automotive industry?

Despite all this uncertainty, automotive leaders are required to make investment decisions today, in order to have know-how, production capacity, and stable supply chains in place once markets demand them. Decision-makers are feeling pressure to act.