New York, Feb. 3, 2015 (GLOBE NEWSWIRE) -- Passenger cars and commercial use vehicles constitute the majority of the global automotive industry. With global vehicle sales showing a consistent rise year on year, the automotive and automobile industry has emerged as a key driver of economic growth in several countries. Automotive materials, parts and supplies, electronics, coating and painting technologies, and passenger safety systems are some of the key segments of the larger automotive industry. Each of these segments is comprised of several other specialized industries, each dedicated to advancing the state of the art of automotive research and manufacturing.
Automotive Market History
According to the OICA, the automotive industry manufactured an estimated 66 million vehicles (passenger and commercial) in 2005, an output that translates into a gross revenue of over 2 trillion Euros. This market is known for being R&D-intensive, spending billions of dollars on research initiatives and taking automobile technology to a whole new level. In addition to this, the automotive industry creates direct employment that accounts for over 5% of the total number of jobs in the manufacturing industry.
Industry Subsectors and Key Trends
Besides automobile manufacturers, the automotive market is composed of hundreds of OEMs manufacturing parts and components, suppliers and distributors of OEMs' components and replacement parts, materials and fuel research/development organizations, fabricators, maintenance professionals and more.
Here are the key subsectors in the automotive industry and their future outlook, as analyzed by Persistence Market Research, and below are the some Published and Upcoming Reports by PMR:
- Automotive HVAC Market: (http://www.persistencemarketresearch.com/market-research/automotive-hvac-market.asp)
Heating, ventilation, air conditioning (HVAC) is integral to any automobile - be it a passenger or commercial vehicle. With an increasing demand for passenger vehicles, the need for HVAC vehicles designed for private-use cars will witness an uptick in the coming years, especially so in the Asia Pacific region.
- Automotive Battery Market: (http://www.persistencemarketresearch.com/market-research/automotive-battery-market.asp)
North America represents the most lucrative market for automotive batteries. This market will likely exhibit moderate growth and automobile batteries based on the fuel cell technology will show much promise in the near future. Growth in this market will, however, be hindered by fluctuating raw material prices.
- Automotive Cockpit Electronics Market: (http://www.persistencemarketresearch.com/market-research/automotive-cockpit-electronics-market.asp)
Consumers are increasingly in pursuit of a better, safer driving experience that is further enhanced by increasing dependence on smartphones and the internet - a trend that is heralding the growth of this market. Infotainment and Navigation systems, passenger controls, sensors and audio and connectivity segments comprise a key part of the global automotive cockpit electronics market.
- Automotive Engine Oil Market: (http://www.persistencemarketresearch.com/market-research/automotive-engine-oil-market.asp)
From conventional premium engine oils to fully synthetic engine oils for high-end vehicles to synthetic blended variants, the automotive engine oil market is currently exhibiting considerable innovation and growth. While North America is currently the largest market for automotive engine oils, aggressive growth is now being witnessed in the Asia Pacific region.
View More PMR Reports on Automotive Industry: http://www.persistencemarketresearch.com/category/shipping-and-transportation.asp
Regional Growth in the Automotive Industry
Asia Pacific is the most prolific automotive and automobile manufacturing region in the world, followed by Europe and North America. However, the Eurozone crisis has weakened Europe's position in the global automotive industry, and it is expected to be overtaken by North America. The latter has reported a healthy increase in vehicle production in recent years.
In APAC, China and Japan continue to remain a manufacturing, supply and distribution hub. However, Japan reported a fall in automobile production in 2013. Australia, on the other hand, has seen the collapse of its automotive manufacturing industry because of the high cost of labor and manufacturing that prevails here.
Automotive Industry Leaders
In 2014, Toyota trumped Volkswagen AG to accede to the position of the largest carmaker in the world. The Japanese automaker sold about 10.23 million vehicle units in 2014 while its nearest competitor--Volkswagen--sold 10.14 million units in the same year. The other key players in the global automotive industry are GM, Renault-Nissan and Hyundai-Kia in that order.
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws on its multi-disciplinary capabilities and the high pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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Source:Persistence Market Research