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The Europe Passenger Car market is experiencing robust growth and is projected to reach USD 537.46 billion by 2030 from USD 357.19 billion in 2022.
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The Europe Passenger Car market is experiencing robust growth and is projected to reach USD 537.46 billion by 2030 from USD 357.19 billion in 2022. The Europe passenger car is characterized by intense competition among key players, including Volkswagen Group, BMW Group, Daimler AG (Mercedes-Benz), and Stellantis (formed by the merger of PSA Group and FCA). Several market drivers have shaped the European passenger car market. Firstly, there is a growing emphasis on sustainability and environmental consciousness. Stricter emission regulations imposed by European Union (EU) standards have pushed car manufacturers to invest in electric and hybrid vehicles to reduce carbon footprints. This has led to the proliferation of electric vehicle (EV) models and the establishment of charging infrastructure across the continent.
Secondly, advancements in technology have significantly influenced the market. The development of autonomous driving technologies and advanced driver-assistance systems (ADAS) has improved safety features and enhanced the overall driving experience. Thirdly, changing consumer preferences and demands have played a crucial role in shaping the market. Consumers in Europe have shown a greater interest in smaller, more fuel-efficient vehicles, as well as a desire for enhanced comfort, convenience, and connectivity options. The demand for SUVs and crossovers has also been on the rise, reflecting the preference for versatile and spacious vehicles.
Moreover, factors such as urbanization, changing mobility patterns, and the rise of shared mobility services have impacted the passenger car market. Many European cities are implementing policies to reduce traffic congestion and promote sustainable transportation options, leading to increased adoption of car-sharing and ride-hailing services. For instance, in an effort to diversify its product portfolio and boost sales, Honda will be importing three newest SUVs in Europe from China. The three of them are: NY1, ZR-V and Sixth-generation CR-V.
Microcars are emerging as the next step in micro-mobility for the Europe passenger car market. These compact vehicles, also known as quadricycles, are designed to address urban congestion and offer efficient transportation solutions. With their small size, they require less parking space, move easily through congested streets, and consume less energy. Microcars often have electric or hybrid powertrains, contributing to reduced emissions and environmental impact. They provide an affordable alternative to traditional passenger cars and can be ideal for short commutes or shared mobility services. Governments and city planners are recognizing their potential in reducing traffic congestion and improve air quality in urban areas. As awareness of sustainable mobility grows, microcars are poised to play a significant role in the future of micro-mobility in Europe, promoting efficient and eco-friendly transportation options. For instance, in 2022, Renault revealed a new electric quadricycle, the Renault Twizy electric fun mobile, which is anticipated to be launched in the coming years.
Car-sharing and ride-hailing services are gaining immense popularity in Europe. These services, offered by companies like Uber, Lyft, provide convenient and cost-effective mobility solutions. They appeal to urban dwellers seeking alternatives to car ownership, especially among younger generations who prioritize flexibility and sustainability. Car-sharing platforms allow users to rent vehicles for short periods while ride-hailing services provide on-demand transportation with professional drivers. These services offer numerous benefits, including reduced congestion, lower carbon emissions, and cost savings. They also cater to the growing trend of digitalization, as users can easily book rides or vehicles through smartphone apps. For instance, in 2021, the Taxi app FREE NOW reported a 38% increase in bookings as the lockdown eased and looked to recruit 10,000 drivers to meet increased demand. Thus, with the convenience and flexibility, they offer, car-sharing and ride-hailing services are set to continue transforming the European passenger car market and shaping the future of urban mobility.
The European passenger car market has witnessed significant technological advancements in recent years, revolutionizing the driving experience. Electric vehicles (EVs) have gained substantial traction, with improved battery technologies enabling longer driving ranges and faster charging times. The infrastructure for EV charging has expanded across Europe, making it more convenient for drivers to adopt electric mobility. Moreover, autonomous driving technologies have made significant strides, enhancing safety and convenience on the roads. Advanced driver-assistance systems (ADAS) such as adaptive cruise control, lane-keeping assist, and automatic emergency braking have become commonplace, reducing the risk of accidents. Additionally, connected car technologies have flourished, allowing vehicles to communicate with each other and with external infrastructure, enabling features like real-time traffic updates, remote vehicle monitoring, and enhanced navigation systems. These technological advancements are driving the future of the European passenger car market, shaping a more sustainable, safe, and connected mobility ecosystem.
For instance, the Mercedes-Benz EQE is an all-electric luxury sedan, offering a sleek design and advanced electric technology. With a spacious interior, impressive range, and cutting-edge features, the EQE combines luxury and sustainability, showcasing Mercedes-Benz's commitment to electric mobility.
Government Regulation
Government regulations in the Europe passenger car market include stringent emissions standards, such as Euro 6 for pollutants and CO2 targets. Additionally, there are regulations on vehicle safety, including crash tests and safety features. Governments also provide incentives and subsidies for electric vehicles to promote sustainable mobility. Here are some of the regulations:
Impact of COVID-19
The pandemic had a significant impact on the Europe passenger car market. The outbreak led to strict lockdown measures, causing a sharp decline in consumer demand for new cars. Manufacturing plants and dealerships faced temporary closures, disrupting production and sales. Supply chain disruptions and global economic uncertainty also affected the market. As a result, car sales plummeted, leading to a substantial decrease in revenue for manufacturers and dealers. However, the pandemic also accelerated certain trends such as the shift towards online car purchases and increased interest in electric vehicles. The recovery of the Europe passenger car market largely depends on the control of the pandemic, economic stability, and consumer confidence.
Russia-Ukraine War
The Russia-Ukraine war had indirect but notable impacts on the Europe passenger car market. The conflict has created economic instability in the region, leading to uncertainty and cautious consumer sentiment. These factors affected consumer purchasing decisions, including car purchases. Additionally, disruption to supply chains or trade routes due to the conflict can led to delays or higher costs for car manufacturers, impacting production and availability of vehicles. Overall, the war's influence on the Europe passenger car market is primarily through its contribution to regional instability and economic uncertainties, which can dampen consumer demand and affect the industry's performance.
“Europe Passenger Car Market Assessment, Opportunities, and Forecast, 2016-2030”, is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the current scenario of the passenger car market in Europe, industry dynamics and opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year of the Analysis |
2022 |
Historical Period |
2016-2021 |
Forecast Period |
2023-2030 |
Projected Growth Rate |
CAGR of 5.24% between 2023-2030 |
Revenue Forecast in 2030 |
USD 537.46 billion |
Units |
Revenue in USD billion |
Segments Covered |
By Vehicle, By Fuel, By Transmission, By Distribution Channel |
Regions Covered |
Germany, United Kingdom, France, Italy, Russia, Spain, Poland, Belgium, Netherlands, Rest of Europe |
Key Companies Profiled |
Volkswagen AG, Stellantis N.V., Renault S.A, Hyundai Motor Company, Bayerische Motoren Werke AG, Toyota Motor Europe, Daimler Motor Company Limited, Ford Motor Company Limited, Volvo Car Corporation., Nissan Motor Co., Ltd. |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In this report, Europe Passenger Car Market has been segmented into the following categories:
1. By Vehicle
1.1. Hatchbacks
1.2. MUV’s
1.3. Sedans
1.4. SUV’s
2. By Fuel
2.1. Petrol
2.2. Diesel
2.3. Battery Electric (BEV)
2.4. Hybrid
2.4.1.Plug-in hybrid (PHEV)
2.4.2.Hybrid Electric (HEV)
2.5. Others
3. By Transmission
3.1. Manual
3.2. Automatic
4. By Distribution Channel
4.1. Original Equipment Manufacturers (OEMs)
4.2. Dealers and Distributors
5. By Region
5.1. Germany
5.2. United Kingdom
5.3. France
5.4. Italy
5.5. Russia
5.6. Spain
5.7. Poland
5.8. Belgium
5.9. Netherlands
5.10. Rest of Europe
Key Players Landscape and Outlook
The companies have a strong market presence and continue to dominate the industry. The outlook for the European passenger car market is driven by the increasing demand for electric vehicles (EVs) and the implementation of stricter emission regulations. Key players are investing and collaborating actively in lieu of EV technology and expanding their EV model lineups to meet the growing consumer interest in sustainable mobility. Additionally, there is a focus on advanced driver-assistance systems (ADAS), autonomous driving technology, connected car features to enhance safety and roll out of EV charging infrastructure to facilitate faster adoption of EV vehicles across Europe. Major players are introducing their new car launched for coming years.
In March 2023, Volkswagen Group announced to capture 80% of the electric cars share in Europe and in line with this, the group will be launching 10 new electric models by 2026.
Market Xcel’s reports answer the following questions:
• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?
Key Players Operating in Europe Passenger Car Market
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Table of Contents
1. Research Methodology
2. Project Scope & Definitions
3. Impact of Covid-19 on Europe Passenger Car Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
6.1. Brand Awareness and Loyalty
6.2. Factors Considered in Purchase Decision
6.3. Medium of Purchase
6.4. Frequency of Purchase
6.5. Understanding of Channel Retail
6.6. Recommendations and Suggestions
7. Europe Passenger Car Market Outlook, 2016-2030F
7.1. Market Size & Forecast
7.1.1.By Value
7.1.2.By Volume
7.2. By Vehicle Type
7.2.1.Hatchbacks
7.2.2.MUV’s
7.2.3.Sedans
7.2.4.SUV’s
7.3. By Fuel Type
7.3.1.Petrol
7.3.2.Diesel
7.3.3. Battery Electric (BEV)
7.3.4.Hybrid
7.3.4.1. Plug-in Hybrid (PHEV)
7.3.4.2. Hybrid Electric (HEV)
7.3.5.Others
7.4. By Transmission Type
7.4.1.Manual
7.4.2.Automatic
7.5. By Distribution Channel
7.5.1.Original Equipment Manufacturers (OEMs)
7.5.2.Dealers and Distributors
7.6. By Region
7.6.2.United Kingdom 7.6.3.France 7.6.4.Italy 7.6.5.Russia 7.6.6.Spain 7.6.7.Poland 7.6.8.Belgium 7.6.9.Netherlands 7.6.10. Rest of Europe |
7.7. By Company Market Share (%), 2022
8. Market Mapping, 2022
8.1. By Vehicle Type
8.2. By Fuel Type
8.3. By Transmission Type
8.4. By Distribution Channel
8.5. By Region
9. Macro Environment and Industry Structure
9.1. Supply Demand Analysis
9.2. Import Export Analysis
9.3. Value Chain Analysis
9.4. PESTEL Analysis
9.4.1.Political Factors
9.4.2.Economic System
9.4.3.Social Implications
9.4.4.Technological Advancements
9.4.5.Environmental Impacts
9.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
9.5. Porter’s Five Forces Analysis
9.5.1.Supplier Power
9.5.2.Buyer Power
9.5.3.Substitution Threat
9.5.4.Threat from New Entrant
9.5.5.Competitive Rivalry
10. Market Dynamics
10.1. Growth Drivers
10.2. Growth Inhibitors (Challenges and Restraints)
11. Key Players Landscape
11.1. Competition Matrix of Top Five Market Leaders
11.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
11.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
11.4. SWOT Analysis (For Five Market Players)
11.5. Patent Analysis (If Applicable)
12. Pricing Analysis
13. Case Studies
14. Key Players Outlook
14.1. Volkswagen AG
14.1.1. Company Details
14.1.2. Key Management Personnel
14.1.3. Products & Services
14.1.4. Financials (As reported)
14.1.5. Key Market Focus & Geographical Presence
14.1.6. Recent Developments
14.2. Stellantis N.V.
14.3. Renault S.A
14.4. Hyundai Motor Company
14.5. Bayerische Motoren Werke AG
14.6. Toyota Motor Europe
14.7. Daimler Motor Company Limited
14.8. Ford Motor Company Limited
14.9. Volvo Car Corporation.
14.10. Nissan Motor Co., Ltd.
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
15. Strategic Recommendations
About Us & Disclaimer
List of Figures
Figure 1. Europe Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 2. Europe Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 3. Europe Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 4. Europe Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 5. Europe Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 6. Europe Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 7. Europe Passenger Cars Market Share, By Region, In USD Billion, 2016-2030F
Figure 8. Germany Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 9. Germany Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 10. Germany Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 11. Germany Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 12. Germany Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 13. Germany Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 14. United Kingdom Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 15. United Kingdom Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 16. United Kingdom Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 17. United Kingdom Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 18. United Kingdom Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 19. United Kingdom Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 20. France Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 21. France Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 22. France Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 23. France Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 24. France Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 25. France Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 26. Italy Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 27. Italy Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 28. Italy Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 29. Italy Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 30. Italy Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 31. Italy Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 32. Russia Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 33. Russia Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 34. Russia Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 35. Russia Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 36. Russia Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 37. Russia Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 38. Spain Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 39. Spain Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 40. Spain Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 41. Spain Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 42. Spain Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 43. Spain Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 44. Poland Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 45. Poland Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 46. Poland Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 47. Poland Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 48. Poland Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 49. Poland Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 50. Belgium Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 51. Belgium Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 52. Belgium Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 53. Belgium Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 54. Belgium Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 55. Belgium Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 56. Netherlands Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 57. Netherlands Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 58. Netherlands Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 59. Netherlands Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 60. Netherlands Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 61. Netherlands Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 62. Rest of Europe Passenger Cars Market, By Value, In USD Billion, 2016-2030F
Figure 63. Rest of Europe Passenger Cars Market, By Volume, In Unit Thousand, 2016-2030F
Figure 64. Rest of Europe Passenger Cars Market Share, By Vehicle, In USD Billion, 2016-2030F
Figure 65. Rest of Europe Passenger Cars Market Share, By Fuel, In USD Billion, 2016-2030F
Figure 66. Rest of Europe Passenger Cars Market Share, By Transmission, In USD Billion, 2016-2030F
Figure 67. Rest of Europe Passenger Cars Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 68. By Vehicle Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 69. By Fuel Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 70. By Transmission Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 71. By Distribution Channel Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 72. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022
List of Tables
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Region and Countries Where We Have Executed Client Projects
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