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Microcar Market

Microcar Market Size, Share & Trends Analysis Report

Microcar Market Size, Share & Trends Analysis Report By Fuel (Petrol, Diesel, Electricity), By Type (Three Wheelers, Four Wheelers),Based On Region, And Segment Forecasts, 2022- 2028

Published
Report ID : BMRC 123
Number of pages : 300
Published Date : Nov 2022
Category : Automotive And Transport
Delivery Timeline : 48 hrs

Global Microcar Market was valued at USD 11.28 Billion in 2021 and is projected to reach around USD 22.27 Billion by 2028, at a CAGR of 10.2% during the forecast period.

Scope of Global Microcar Market

Microcar term is often used for the smallest size of cars with three or four wheels and often have engine smaller than 700cc. Some of the example of the microcar is bubble cars, cycle cars, quadricycles, voiturettes etc. Microcars have hassle-free registrations and licensing as compared to normal cars. These cars are powered by petrol or diesel engines these days electric microcars are also in trend recently. The global microcar market is driven by several factors such as growing population, changing consumer vehicle preference and launch of several energy efficient microcars equipped with compact, spacious designs filled with sophistication. On the basis of fuel, the microcar market is segmented in to petrol-based cars, diesel based, electric vehicles and others. On the basis of type the microcar market is segmented into three wheelers and four wheelers.

The regions covered in this microcar market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Microcar is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Microcar Market Segmentation

By Fuel

  • Petrol
  • Diesel
  • Electricity
  • Others

By Type

  • Three wheelers
  • Four wheelers

Global Microcar Market Key Players

Some major key players for global microcar market are

  • Daimler
  • Toyota
  • General Motors
  • Honda
  • Mahindra Electric Mobility
  • Groupe PSA
  • Nissan Motor Co.
  • Piaggio & C. Spa
  • Renault S.A
  • others.

Market Dynamics

Some of the main growth factor of microcar market are growing popularity of electric cars and varied microcar models with advanced features introduced by OEMs. Overpopulation in developing countries like India & china (China-1.42 Billion and India- 1.35 Billion in 2018) and increasing rate of urbanization is impacting the growth of microcar market. The increasing cases of two-wheeler accidents are expected to drive the market for microcars. The price of oil worldwide is expected to increase over the next decade due to depleting fossil fuels microcars are energy efficient and offer better mileage than other cars.

Asia Pacific region is dominating the global microcar market due to high population, rising disposable income, cost sensitiveness due to constrained spending habits. The growth in the region was customers in Asia Pacific prefer to buy smaller cars as they are affordable and economical to maintain for middleclass people. Europe is the second largest market followed by North America in terms of revenue generation. The European market is majorly driven by factors such as focus on alternative fuel driven vehicles, congested city centers and increasing cost of vehicle ownership. The development of megacities, changing mobility trends and increasing interest in urban vehicles with low emissions and low fuel consumption, has encouraged OEMs to introduce microcars in Europe such as Renault, PSA Peugeot Citroen and many more.

By Regional & Country Level

North America

  • U.S
  • Canada

Europe

  • U.K
  • France
  • Germany
  • Italy

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

Latin America

  • Brazil
  • Mexico

Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa
Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2021 - 2028
Market Size in 2021: USD 11.28 Billion
Base year considered 2021
Forecast Period CAGR %: 10.2%
Market Size Expected in 2028: USD 22.27 Billion
Tables, Charts & Figures: 175
Pages 300
Key Players/Companies

Daimler, Toyota, General Motors, Honda, Mahindra Electric Mobility, Groupe PSA, Nissan Motor Co., Piaggio & C. Spa, Renault S.A, others.

Segments Covered By Fuel, By Type Size, By End-User.
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
SUMMARY
VishalSawant
Vishal Sawant
Business Development
vishal@brandessenceresearch.com
+91 8830 254 358
Segmentation
Segments

By Fuel

  • Petrol
  • Diesel
  • Electricity
  • Others

By Type

  • Three wheelers
  • Four wheelers
Country
Regions and Country

North America

  • U.S.
    U.S.
  • Canada
    Canada

Europe

  • Germany
    Germany
  • France
    France
  • U.K.
    U.K.
  • Italy
    Italy
  • Spain
    Spain
  • Sweden
    Sweden
  • Netherlands
    Netherlands
  • Turkey
    Turkey
  • Switzerland
    Switzerland
  • Belgium
    Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
    South Korea
  • Japan
    Japan
  • China
    China
  • India
    India
  • Australia
    Australia
  • Philippines
    Philippines
  • Singapore
    Singapore
  • Malaysia
    Malaysia
  • Thailand
    Thailand
  • Indonesia
    Indonesia
  • Rest of APAC

Latin America

  • Mexico
    Mexico
  • Colombia
    Colombia
  • Brazil
    Brazil
  • Argentina
    Argentina
  • Peru
    Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
    Saudi Arabia
  • UAE
    UAE
  • Egypt
    Egypt
  • South Africa
    South Africa
  • Rest of MEA
Company
Key Players
  • Daimler
  • Toyota
  • General Motors
  • Honda
  • Mahindra Electric Mobility Limited
  • Groupe PSA
  • Nissan Motor Co., Ltd.
  • Piaggio & C. Spa
  • Renault S.A.

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