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Global Microcars Market to Reach US$50.3 Billion by the Year 2026

·17 min read
ReportLinker
ReportLinker

Abstract: What`s New for 2022? -Global competitiveness and key competitor percentage market shares. -Market presence across multiple geographies - Strong/Active/Niche/Trivial.

New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Microcars Industry" - https://www.reportlinker.com/p01518542/?utm_source=GNW
-Online interactive peer-to-peer collaborative bespoke updates
-Access to our digital archives and MarketGlass Research Platform
-Complimentary updates for one year

Global Microcars Market to Reach US$50.3 Billion by the Year 2026

Microcars are compact fuel-efficient automobiles that are smaller in size than standard cars. Global automotive industry has undergone significant transformation in the past few decades in terms of vehicle design, features, production costs and affordability. The resultant upsurge in vehicle population and the rise in fuel prices have compelled governments to impose strict regulations and manufacturers to seek alternative options which led to the efforts to commercialize electric vehicles and other alternatives, though they have been in use since long. As the number of cost conscious customers rises and vehicular traffic becomes more congested, automotive manufacturers are rethinking business plans focused on smaller and efficient vehicles to address some of these issues. Amidst the scenario, the automotive industry globally has been looking towards microcars, which are beneficial in terms of higher fuel economy and lower carbon footprints. Rapid industrialization, increasing urbanization and expansion of construction industry would also promote market growth, especially for microcars capable of transporting cargo, particularly in countries like Japan, China and the US. Gradually reducing space for parking is also contributing to market growth. The pandemic also led to increased interest among public in owning cars instead of using public transport.

Amid the COVID-19 crisis, the global market for Microcars estimated at US$44.5 Billion in the year 2020, is projected to reach a revised size of US$50.3 Billion by 2026, growing at a CAGR of 2.1% over the analysis period. Electric, one of the segments analyzed in the report, is projected to grow at a 2.6% CAGR to reach US$22.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid segment is readjusted to a revised 1.8% CAGR for the next 7-year period. Hybrid cars would continue to witness popularity in the next few years compared to electrified cars owing to their high fuel efficiency and longer driving range. Though adoption of pure-battery operated electric vehicles is expected to increase in the long run, but for immediate future, hybrid cars are likely to fare better than electric vehicles. As a result, manufacturers are rolling out a combination of electric motor and conventional combustion engine to develop a micro hybrid car. Along with full-electric and hybrid cars of standard size, electric microcars can be seen making their presence felt across the global markets owing to the growing interest of commuters, especially those in Europe and East Asia, in micro mobility. Subsidies and tax incentives offered by government bodies for ramping up production of EVs is also a major contributing factor for growth of the market for microcars, especially electric microcars.

The U.S. Market is Estimated at $3.8 Billion in 2021, While China is Forecast to Reach $5.6 Billion by 2026

The Microcars market in the U.S. is estimated at US$3.8 Billion in the year 2021. The country currently accounts for a 8.5% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$5.6 Billion in the year 2026 trailing a CAGR of 2.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 1.6% respectively over the analysis period. Developing economies in Asia-Pacific, Latin America and Middle East will continue to be a prominent regional market for automobiles. Asia-Pacific in particular represents a major market for passenger cars. China and India in particular, have been displaying high demand for new cars, primarily due to continued industrialization, growth in GDP, rising employment levels, improving standard of living, increase in discretionary spends, and development of road infrastructure.

Petrol/Diesel Segment to Reach $1.3 Billion by 2026

In the global Petrol/Diesel segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.6 Billion in the year 2020 will reach a projected size of US$9.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$882.8 Million by the year 2026, while Latin America will expand at a 1.7% CAGR through the analysis period.
Select Competitors (Total 57 Featured) -

  • BMW AG

  • Daihatsu Motor Co., Ltd.

  • Daimler AG

  • Fiat Automobiles SpA

  • Groupe Renault SA

  • Honda Motor Co. Ltd.

  • Mahindra Electric Mobility Limited

  • Mitsubishi Motors Corp.

  • Piaggio & C. Spa

  • Suzuki Motor Corporation

  • Toyota Motor Corporation




Read the full report: https://www.reportlinker.com/p01518542/?utm_source=GNW

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Microcars - Global Key Competitors Percentage Market Share in
2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
Impact of COVID-19 Pandemic and Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is
the World Economy Headed in 2021?
World Economic Growth Projections (Real GDP, Annual % Change)
for 2020 through 2022
How the Automotive Industry was Impacted by the Pandemic &
What’s the New Normal?
Car Production YoY % Growth in 2020 Across Major Regional Markets
Pandemic Impacts Demand for Microcars
Increased Use of Mask-Vacation Pods at Workspaces, An
Opportunity for Microcars
An Introduction to Microcars
Microcars: Promising Alternative to Traditional Vehicles
Global Market Prospects & Outlook
Developing Regions to Witness High Growth
Competition
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
Growing Challenges of Urban Transportation Enhance Importance
of Microcars
World Urban Population in Thousands: 1950-2050P
Degree of Urbanization Worldwide: Urban Population as a % of
Total Population by Geographic Region for the Years 1950,
1970, 1990, 2018, 2030 and 2050
Growing Road Congestion and Restricted Parking Spaces Fuel Need
for Smaller Microcars
Urbanization and Emergence of Smart Cities Spurs Demand for
Light Vehicles, Microcars to Benefit
Global Smart Cities Market: Annual Sales in US$ Million for
Years 2020 and 2027
Rise in Two-Wheeler Accidents Turns Consumers towards Microcars
Regulatory Pressures to Reduce Carbon Emissions Drives Focus
onto Micro-Electric Vehicles
Trend towards Small and Low-Speed Electric Vehicles
Hybrid Cars to Remain in Race in Near Term
Government Support for Electric Vehicles: Micro-Electric
Vehicles Market to Benefit
Micro-Mobility Trend Fuels Importance of Microcars
Global Micromobility Market Size (in $ Billion) for 2020, 2023
and 2026
Could Microcars Emerge as the Future of Shared Mobility Services?
Microcars Proved to be Successful for Car Sharing even before
Pandemic
The Advantage of License-free Driving Bodes Well for Microcars
Market
Changing Mobility Trends Affect Design Changes
Motorized Quadricycles Market: Poised for Healthy Growth
Safety Aspect Remains High Priority among Consumers
Stringent Eco-Norms and Safety Rules to Increase Prices of
Microcars
Small Engine Compact Cars to Witness Robust Demand
Solar Electric Microcar - A New Development
Consumer Perceptions: A Major Hindrance for Adoption of Microcars

4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Microcars by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 2: World Historic Review for Microcars by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Million for Years 2015 through 2019 and % CAGR

Table 3: World 12-Year Perspective for Microcars by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World Markets
for Years 2015, 2021 & 2027

Table 4: World Recent Past, Current & Future Analysis for
Electric by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 5: World Historic Review for Electric by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Million for Years 2015 through 2019 and % CAGR

Table 6: World 12-Year Perspective for Electric by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2015, 2021 & 2027

Table 7: World Recent Past, Current & Future Analysis for
Hybrid by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 8: World Historic Review for Hybrid by Geographic Region -
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World Markets - Independent Analysis of Annual Sales in US$
Million for Years 2015 through 2019 and % CAGR

Table 9: World 12-Year Perspective for Hybrid by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2015, 2021 & 2027

Table 10: World Recent Past, Current & Future Analysis for
Petrol / Diesel by Geographic Region - USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 11: World Historic Review for Petrol / Diesel by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2015 through 2019 and
% CAGR

Table 12: World 12-Year Perspective for Petrol / Diesel by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027

Table 13: World Recent Past, Current & Future Analysis for
Personal by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 14: World Historic Review for Personal by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Million for Years 2015 through 2019 and % CAGR

Table 15: World 12-Year Perspective for Personal by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2015, 2021 & 2027

Table 16: World Recent Past, Current & Future Analysis for
Commercial by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 17: World Historic Review for Commercial by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Million for Years 2015 through 2019 and % CAGR

Table 18: World 12-Year Perspective for Commercial by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027

III. MARKET ANALYSIS

UNITED STATES
Microcars Market Presence - Strong/Active/Niche/Trivial - Key
Competitors in the United States for 2022 (E)
Microcars for Car Sharing in the US
Table 19: USA Recent Past, Current & Future Analysis for
Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 20: USA Historic Review for Microcars by Fuel Type -
Electric, Hybrid and Petrol / Diesel Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 21: USA 12-Year Perspective for Microcars by Fuel Type -
Percentage Breakdown of Value Sales for Electric, Hybrid and
Petrol / Diesel for the Years 2015, 2021 & 2027

Table 22: USA Recent Past, Current & Future Analysis for
Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 23: USA Historic Review for Microcars by Application -
Personal and Commercial Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2015 through 2019 and %
CAGR

Table 24: USA 12-Year Perspective for Microcars by Application -
Percentage Breakdown of Value Sales for Personal and
Commercial for the Years 2015, 2021 & 2027

CANADA
Table 25: Canada Recent Past, Current & Future Analysis for
Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 26: Canada Historic Review for Microcars by Fuel Type -
Electric, Hybrid and Petrol / Diesel Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 27: Canada 12-Year Perspective for Microcars by Fuel Type -
Percentage Breakdown of Value Sales for Electric, Hybrid and
Petrol / Diesel for the Years 2015, 2021 & 2027

Table 28: Canada Recent Past, Current & Future Analysis for
Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 29: Canada Historic Review for Microcars by Application -
Personal and Commercial Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2015 through 2019 and %
CAGR

Table 30: Canada 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

JAPAN
Microcars Market Presence - Strong/Active/Niche/Trivial - Key
Competitors in Japan for 2022 (E)
Market Overview
Japanese Minicars Market Breakdown by Leading Manufacturers (In
%) for 2020
Increased Prominence of EVs: Implications for Keis Market
Table 31: Japan Recent Past, Current & Future Analysis for
Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 32: Japan Historic Review for Microcars by Fuel Type -
Electric, Hybrid and Petrol / Diesel Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 33: Japan 12-Year Perspective for Microcars by Fuel Type -
Percentage Breakdown of Value Sales for Electric, Hybrid and
Petrol / Diesel for the Years 2015, 2021 & 2027

Table 34: Japan Recent Past, Current & Future Analysis for
Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 35: Japan Historic Review for Microcars by Application -
Personal and Commercial Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2015 through 2019 and %
CAGR

Table 36: Japan 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

CHINA
Microcars Market Presence - Strong/Active/Niche/Trivial - Key
Competitors in China for 2022 (E)
Market Overview
Carbon Credits Program to Expand Micro Vehicles Market in China
Table 37: China Recent Past, Current & Future Analysis for
Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 38: China Historic Review for Microcars by Fuel Type -
Electric, Hybrid and Petrol / Diesel Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 39: China 12-Year Perspective for Microcars by Fuel Type -
Percentage Breakdown of Value Sales for Electric, Hybrid and
Petrol / Diesel for the Years 2015, 2021 & 2027

Table 40: China Recent Past, Current & Future Analysis for
Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 41: China Historic Review for Microcars by Application -
Personal and Commercial Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2015 through 2019 and %
CAGR

Table 42: China 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

EUROPE
Microcars Market Presence - Strong/Active/Niche/Trivial - Key
Competitors in Europe for 2022 (E)
Market Overview
Table 43: Europe Recent Past, Current & Future Analysis for
Microcars by Fuel Type - Electric, Hybrid and Petrol / Diesel -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 44: Europe Historic Review for Microcars by Fuel Type -
Electric, Hybrid and Petrol / Diesel Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 45: Europe 12-Year Perspective for Microcars by Fuel Type -
Percentage Breakdown of Value Sales for Electric, Hybrid and
Petrol / Diesel for the Years 2015, 2021 & 2027

Table 46: Europe Recent Past, Current & Future Analysis for
Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 47: Europe Historic Review for Microcars by Application -
Personal and Commercial Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2015 through 2019 and %
CAGR

Table 48: Europe 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

ASIA-PACIFIC
Microcars Market Presence - Strong/Active/Niche/Trivial - Key
Competitors in Asia-Pacific for 2022 (E)
Promising Potential for Microcars Market in India
Table 49: Asia-Pacific Recent Past, Current & Future Analysis
for Microcars by Fuel Type - Electric, Hybrid and Petrol /
Diesel - Independent Analysis of Annual Sales in US$ Million
for the Years 2020 through 2027 and % CAGR

Table 50: Asia-Pacific Historic Review for Microcars by Fuel
Type - Electric, Hybrid and Petrol / Diesel Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2015 through 2019 and % CAGR

Table 51: Asia-Pacific 12-Year Perspective for Microcars by
Fuel Type - Percentage Breakdown of Value Sales for Electric,
Hybrid and Petrol / Diesel for the Years 2015, 2021 & 2027

Table 52: Asia-Pacific Recent Past, Current & Future Analysis
for Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 53: Asia-Pacific Historic Review for Microcars by
Application - Personal and Commercial Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 54: Asia-Pacific 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

REST OF WORLD
Table 55: Rest of World Recent Past, Current & Future Analysis
for Microcars by Fuel Type - Electric, Hybrid and Petrol /
Diesel - Independent Analysis of Annual Sales in US$ Million
for the Years 2020 through 2027 and % CAGR

Table 56: Rest of World Historic Review for Microcars by Fuel
Type - Electric, Hybrid and Petrol / Diesel Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2015 through 2019 and % CAGR

Table 57: Rest of World 12-Year Perspective for Microcars by
Fuel Type - Percentage Breakdown of Value Sales for Electric,
Hybrid and Petrol / Diesel for the Years 2015, 2021 & 2027

Table 58: Rest of World Recent Past, Current & Future Analysis
for Microcars by Application - Personal and Commercial -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 59: Rest of World Historic Review for Microcars by
Application - Personal and Commercial Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2015 through
2019 and % CAGR

Table 60: Rest of World 12-Year Perspective for Microcars by
Application - Percentage Breakdown of Value Sales for Personal
and Commercial for the Years 2015, 2021 & 2027

IV. COMPETITION
Total Companies Profiled: 57
Read the full report: https://www.reportlinker.com/p01518542/?utm_source=GNW

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