Global New Cars Market Segmentation - Ken Research

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Technology Trends in the Global Car Manufacturing
Industry Ken Research
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The automotive industry is one of the largest
manufacturing industries in the terms of value
not just on USA but many other countries and
regions. The trend of consolidation has been
witnessed in the regions where automotive
industry is well established. Major production is
met by large corporations and enterprises that
have virtually eliminated the small players in
the industry and thus rendering the competition
stiff. The reason for this trend is the
requirement of heavy investment for mass
production. Small corporations lack funds
whereas on the other hand large enterprises over
decades of their operations have accumulated
large resources which are now being put to use to
manufacture cars in mass numbers thereby
achieving economies of scale as well. Since the
large enterprises can produce these goods at
competitively lower prices which gives them a
commanding edge over small players. Market shares
consist of groups of brands rather than
individual groups. For instance Volkswagen
group consists of various brands such as
Volkswagen, Audi and Skoda.
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According to the study, New Cars Global Industry
Almanac 2 2013-2022, the new car manufacturing
industry includes sales or registration of new
passenger cars. The passenger cars market is
divides in different segments. This includes
hatchbacks, saloons, SUVs, 4X4 and other related
vehicles. The future of this industry holds many
opportunities for the companies. The first is the
gaining influence of crossover vehicles. People
currently prefer to have the comfort of SUVs
coupled with the fuel efficiency. Hence,
companies are focusing on producing crossover
vehicles which requires huge amount of investment
especially in the RD segment. Internet of
Things and connected devices have made their way
into the automotive car market segment, while the
technology is still new however, its adoption
rate shall be high during the coming 5 years.
Cloud technology has been incorporated recently
in the car manufacturing market. This has allowed
the designs, planning, operations to be
comparatively higher. The 3D printing technology
has changed the entire landscape of this
industry. This technology was first deployed by
Urbee which was later perfected by local motors
when it launched strati. Some other trends that
have come up are the increasing production of
electric vehicles as well as the autonomous
vehicles which are being perfected by technology
giants as well as car manufacturers.
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The companies that have a stronghold in the
market are Suzuki, PSA groupe, Fiat Chrysler
Automobiles, Honda, Ford, General Motors,
Hyundai, Renault-Nissan, Toyota, and Volkswagen.
All of these companies are functioning for
decades long while some have operated for over a
century. These companies have the most of the
entire market segment under their hood. The
growth of this industry is expected to be
significantly high in the coming 5 years because
of the rising need for quicker and efficient
mobility. Although many companies are dominant in
this sphere however few recent companies like
Tesla have been able to gain significance in the
recent years due to their combination of
efficiency, design and cost effectiveness.
Companies need to innovate and come up with
innovating concepts different from traditional
cars that run on oil which could potentially make
them a significant player in this global industry.
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