28 Jan 2021
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.
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
Daimler AG, commonly known and referred to as Mercedes-Benz is a German multinational automotive corporation established in 1886 and headquartered at Stuttgart, Baden-Württemberg Germany. Specialties in Auto Manufacturer and Financial Services. Daimler had 298,655 Employees and had a revenue of $ 197 Billion.
Toyota Motor Corporation is a Japanese multinational automotive manufacturer established in 1937 and headquartered at Toyota, Aichi, Japan. Specialties in Automotive Industry. Toyota had nearly 379,201 Employees and had a revenue of $282 Billion.
General Motors Company is an American multinational corporation Established in 1908 and headquartered at Detroit, Michigan. Specialties in Cars, Trucks, Manufacturing, Automotive, Vehicles, Transportation, engineering, and information technology. General Motors had nearly 163,320 Employees and had a revenue of $ 137 Billion.
The Honda Motor Company, Ltd. is a Japanese public multinational conglomerate corporation established in 1948 and headquartered at Minato-ku, Tokyo Japan. Specialties in automobiles, motorcycles, power products and aircraft. Honda had nearly 219,722 Employees and had a revenue of $141 Billion.
Mahindra Electric Mobility Limited, formerly known as the Reva Electric Car Company established in 1994 and headquartered at Singasandra, Karnataka. Specialties in development and pro-duction of electric vehicles, compact electric vehicles.
The Nissan Motor Company, Ltd., trading as the Nissan Motor Corporation established in 1933 and headquartered at Yokohama-shi, Kanagawa Japan. Specialties in manufacture, sale, financial services, and automotive. Nissan had nearly 138,693 Employees and had a revenue of $118 Billion.
· Global Microcar Market report covers in-depth historical and forecast analysis.
· Global Microcar Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
· Global Microcar Market report helps to identify opportunities in marketplace.
· Global Microcar Market report covers extensive analysis of emerging trends and competitive landscape.