Automobile Industry and Auto Components, Automotive components, Spare parts, Auto Parts, Car Parts, Replacement Parts, Tractor Parts, Motorcycle Parts, Auto Body Parts, Two Wheeler, Three Wheeler and Four Wheeler Parts, Accessories & Spares
Follow the Trends and Invest in the Automobile Industry to Become Successful
The automobile industry is one of the biggest industries globally, and it deals with the designing and manufacturing of motor vehicles. Along with that, the vehicles' marketing and selling are also a large part of these companies. In the present time in the whole world, most of the automobiles are produced by China. USA and Japan are respectively in the second and third place. In 2018 India grabbed the 4th spot all over the world in terms of vehicle production.
Recent Trends in the Automobile Industry
The automobile industry has always been considered as the sector which will provide innovative solutions. There are a few trends that need to be followed to get success in the automobile industry.
- Automobiles based on Artificial Intelligence
Like all other industries, artificial intelligence has also affected the automobile industry massively in the past few years. Artificial intelligence can ease the pressure of driving as these cars mostly run on software for navigational control without any driver. Studies show that only 1400 cars of this kind are there on the USA roads. The number might be significantly less, but the change is coming.
Whether it is a car or a motorcycle and can even be a tractor, any of the vehicles’ making process is time-consuming and requires many workforces. To make the production rate faster and reach the supply-demand, 3D printing technology is now being used.
Along with autonomous vehicles, the demand for automobiles that run on electricity instead of fossil fuel has also increased exponentially.
Every industry, every business is going online these days. Selling new and old vehicles or the parts of the car is a new concept. In this car buying method, the buyer can compare different models without a middle man's help. So digital marketing and online dealing have become very much important in the automobile industry also.
Market Growth of Automobile Industry and Areas of Investment
As mentioned earlier, the demand for autonomous vehicles is increasing with time. It is expected that by 2026 this particular type of car industry will reach a worth of 556 USD. Investments should be made as soon as possible after some time; investments will be pouring down with the increase in demand.
In the case of electric cars, it is expected that there will be more than 10 million electric cars will be on the road by the end of 2025. This type of car is still not being used all over the world, and the usage of them is limited mostly to the developed countries. People's acceptance and battery performance are things that an automobile company should look for before selling the vehicle.
Most people are still not comfortable buying old or new vehicles online, but it is expected that things will change in the following years. The parts of automobiles which are being sold digitally are doing quite a profitable business. It is better to invest in digital marketing to ensure a firm footing in the automobile industry.
Why Invest In the Automobile Industry
In the past year, 2020, the automobile business sector has taken a huge hit worldwide. Contraction of industry happens at a considerable rate in Thailand (-23%) and Argentina (-34.3%). It also affected India, which shown contraction at a -0.8% rate.
On the other hand, large automobile manufacturing regions have seen growth. These regions are China (+10.1%), Europe (+6.7%). It is expected that the industry will grow more than expected in the upcoming years as China's light vehicle assembly produced 14.4 billion units last year, and the SUV production is growing at a 36.7 % rate every year. Along with China, other top automobile and vehicle parts making industries have also grown in the past decade or so, and signs say that the stocks will be upward in the following years to come.
In today's world, the automobile industry presents an ample amount of opportunities for investors. It is an excellent industry for startups also as any startup can start by selling parts of two-wheelers, three-wheelers, and four-wheelers along with the spare and replacement pieces of automobiles.
Reasons for buying our reports:
This report helps you to identify a profitable project for investing or diversifying into by throwing light to crucial areas like industry size, market potential of the product and reasons for investing in the product
This report provides vital information on the product like its characteristics and segmentation
This report helps you market and place the product correctly by identifying the target customer group of the product
This report helps you understand the viability of the project by disclosing details like machinery required, project costs and snapshot of other project financials
The report provides a glimpse of government regulations applicable on the industry
The report provides forecasts of key parameters which helps to anticipate the industry performance and make sound business decisions.
Our research reports broadly cover Indian markets, present analysis, outlook and forecast for a period of five years.
The market forecasts are developed on the basis of secondary research and are cross-validated through interactions with the industry players
We use reliable sources of information and databases. And information from such sources is processed by us and included in the report