Passenger Cars Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Passenger Cars Market is segmented By Type (Petrol, Diesel, Hybrid, Electric), By Vehicle Type (Compact-SUV, Hatchback, Sedan, SUV), By Geography (Nor....
Passenger Cars Market Size
Market Size in USD
CAGR5.6%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 5.6% |
| Market Concentration | Medium |
| Major Players | Toyota Motor Corporation, Volkswagen AG, Hyundai Motor Group, General Motors Company, Ford Motor Company |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Passenger Cars Market Analysis
The passenger cars market is estimated to be valued at USD 1,728.25 Bn in 2024 and is expected to reach USD 2530.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031. The rising demand for personal mobility options and increasing disposable income levels among consumers across the world are driving the passenger cars market.