Passenger Car Industry Report: Competitive Landscape and Future Prospects
The Business Research Company
The Business Research Company's Passenger Car Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 19, 2025 /EINPresswire.com/ -- "Get 20% Off All Global Market Reports With Code ONLINE20 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors
What Is The Projected Market Size & Growth Rate Of The Passenger Car Market?
The size of the passenger car market has witnessed robust growth in the past few years. The market is projected to expand from $1548.94 billion in 2024 to a whopping $1644.2 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. This development during the historical period is due to various factors such as urbanization, economic advancement, changes in consumer tastes, improved fuel efficiency, enhanced safety standards, emission rules, and accessible financing options.
Expectations are high for remarkable expansion in the passenger car market in the next several years, with its market size set to reach $2161.88 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.1%. The anticipated surge during this forecast period can be credited to elements such as the popularization of electric vehicles, connectivity characteristics, sustainable and environmentally friendly automobiles, versatile ownership structures, judiciary rewards, and hydrogen fuel cell vehicle advancements. The forecast period is also set to witness several significant trends including customization of automobile interiors, usage of lightweight materials for better fuel efficiency, incorporation of augmented reality (AR) in head-up displays, compact and urban mobility strategies, and vehicle subscription services.
Download a free sample of the passenger car market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2130&type=smp
What Is The Crucial Factor Driving The Global Passenger Car Market?
The surge in electric vehicle uptake is anticipated to stimulate the expansion of the passenger car market in the future. An electric vehicle (EV), a car propelled by an electric motor fueled by a rechargeable battery, is becoming increasingly popular. The swell in passenger car interest due to EVs connects to a variety of elements, such as growing affordability, governmental regulations, environmental apprehensions, and technological progressions. As per the U.S. Energy Information Administration, a US-based entity, hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) collectively accounted for 16.3% of total new light-duty vehicle (LDV) sales in the US in 2023. Further, the Department Of Energy, a US government-based website, reported that in 2021, electric vehicle (EV) sales represented 73% of all plug-in electric vehicle (PEV) sales in the US. Hence, the mounting interest in electric vehicles is fostering the evolution of the passenger car industry.
Who Are The Emerging Players In The Passenger Car Market?
Major players in the Passenger Car include:
• Volkswagen AG
• Toyota Motor Corp
• Daimler AG
• Fiat Chrysler Automobiles NV
• Ford Motor Co.
• General Motors Company
• BMW AG
• Honda Motor Co Ltd.
• Hyundai Motor Co. Ltd.
• SAIC Motor Co ltd.
What Are The Top Trends In The Passenger Car Industry?
Leading companies in the passenger car market are rolling out fresh items, such as the A-class SUV, to satisfy a broader client base and boost sales and revenue. An A-class SUV is a passenger car that accommodates five passengers and carries up to 50.5 cubic feet of cargo. In February 2022, for example, China's BYD Auto Co. Ltd introduced Atto 3, their inaugural A-class SUV constructed using BYD's e-platform 3.0. The Atto 3, based on the smallest time scale unit in physics, the Attosecond, possesses characteristics that make it swift, vibrant, and dynamic. The ATTO 3 is the first SUV to feature an interior with a sporty feel, reflecting BYD's innovative design philosophy. Additionally, BYD's pioneering Blade Battery technology, an outstanding safety feature, comes standard in the ATTO 3, and offers one of the longest single-charge ranges in the market.
What Segments Are Covered In The Passenger Car Market Report?
The passenger carmarket covered in this report is segmented –
1) By Type: Hatchback, Sedan, Utility Vehicle
2) By Fuel Type: Gasoline, Diesel, Other Fuel Types
3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc
4) By Propulsion Type: IC Engine, Electric Vehicle
Subsegments:
1) By Hatchback: Compact Hatchback, Subcompact Hatchback
2) By Sedan: Compact Sedan, Midsize Sedan, Full-Size Sedan
3) By Utility Vehicle: Sport Utility Vehicle (SUV), Crossover Utility Vehicle (CUV), Minivan
View the full passenger car market report:
https://www.thebusinessresearchcompany.com/report/passenger-car-global-market-report
Which Region Is Projected To Hold The Largest Market Share In The Global Passenger Car Market?
In 2024, the passenger car market was predominantly led by Asia-Pacific, followed closely by Western Europe. The report on the passenger car market encompassed regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Browse Through More Reports Similar to the Global Passenger Car Market 2025, By The Business Research Company
Motor Vehicle And Parts Dealers Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/motor-vehicle-and-parts-dealers-global-market-report
Automobiles And Heavy Equipment Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/automobiles-and-heavy-equipment-global-market-report
Electric Motor And Generator Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/electric-motor-and-generator-global-market-report
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company"
Oliver Guirdham
The Business Research Company
+44 7882 955267
info@tbrc.info
Visit us on social media:
LinkedIn
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
