Automobile

The automotive industry currently manufactures 97,302,534 vehicles. China manufactures 30% Vehicles holds a strong position world’s largest automotive manufacturing country. Average industry growth is 2.7% From 2014–2019. In 2019, around 91.3 million motor vehicles were sold globally and commercial vehicles. Similarly Commercial vehicle sales increase by 6-7% . Motorcycles, scooters and moped market across the world is likely to grow to 62.6 million units by 2025 at a Compound annual growth rate (CAGR) of 3.7 percent. The market was valued at around $19.4 billion in 2018 and is projected to exhibit a CAGR of 12.8%, to reach $39.9 billion by 2024.