Reports
Global Compact Cars Market: By Fuel Type: Diesel, Electric, Gasoline, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand and Price; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Compact Cars Market Outlook
The compact car market registered a robust sale of approximately 6.85 million units in 2022. The market is further expected to grow at a CAGR of 4.1% between 2023 and 2028, driven by the rising demand for fuel efficient cars with improved safety features that are also suitable for driving in congested areas.
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Rising Demand for Electric Compact Cars to Bolster the Market Growth
Based on fuel type, the electric compact cars segment is expected to witness a robust growth in the forecast period. The growth of the segment can be attributed to the rising environmental concern and the favourable government initiatives. Currently, the diesel compact cars segment occupies a significant share in the industry, but it is expected to witness a stagnant growth in the forecast period owing to the rising preference for eco-friendly fuel alternatives over diesel.
Europe to Significantly Aid the Compact Cars Industry Growth
Region-wise, Europe is expected to account for a significant share in the industry in the forecast period. The growing demand for electric compact cars owing to the stringent vehicle emission standards in the region is aiding the industry growth. Meanwhile, the Asia Pacific is expected to provide enhanced growth opportunities for the market expansion, attributed to the robust demand for clean energy vehicles and compact cars from emerging nations, particularly China and Japan.
Compact Cars: Market Segmentation
Compact cars refer to small cars that offer a different set of features such as relatively large space and better fuel efficiency. In general, compact car is a vehicle size class that falls between subcompact and mid-size cars.
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Based on fuel type, the market is divided into:
- Diesel
- Electric
- Gasoline
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand for Fuel Efficient Vehicles and the Increasing Congestion in Urban Areas are Boosting the Demand for Compact Cars
The global market for compact cars is being driven by the growing need for fuel efficient vehicles, which are small in size and more elegant than mini cars. The rapid technological advancements and the innovation in designs have significantly contributed to the industry growth. The stringent regulations on car parking due to congestion and lack of parking space are aiding the industry growth. Other factors, such as the rising disposable incomes, growing demand for lightweight cars, and increasing urban population, are further propelling the industry growth.
Over the forecast period, the rising environmental concern and favourable government initiatives are expected to boost the sales volume of electric compact cars, which is expected to significantly contribute to the industry growth over the forecast period.
Key Industry Players in the Global Compact Cars Market
The report gives a detailed analysis of the following key players in the global compact cars market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Suzuki Motor Corporation
- Toyota Motor Corporation
- Honda Motor Company, Ltd.
- Tata Motor Limited
- General Motors Company
- Nissan Motor Corp
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Fuel Type, Region |
| Breakup by Fuel Type | Diesel, Electric, Gasoline, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Suzuki Motor Corporation, Toyota Motor Corporation, Honda Motor Company, Ltd., Tata Motor Limited, General Motors Company, Nissan Motor Corp, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Compact Cars Market Analysis
8.1 Key Industry Highlights
8.2 Global Compact Cars Historical Market (2018-2022)
8.3 Global Compact Cars Market Forecast (2023-2028)
8.4 Global Compact Cars Market by Fuel Type
8.4.1 Diesel
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Electric
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Gasoline
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Compact Cars Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Suzuki Motor Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Toyota Motor Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Honda Motor Company, Ltd.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Tata Motor Limited
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 General Motors Company
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Nissan Motor Corp
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Compact Cars Market: Key Industry Highlights, 2018 and 2028
2. Global Compact Cars Historical Market: Breakup by Fuel Type (Million Units), 2018-2022
3. Global Compact Cars Market Forecast: Breakup by Fuel Type (Million Units), 2023-2028
4. Global Compact Cars Historical Market: Breakup by Region (Million Units), 2018-2022
5. Global Compact Cars Market Forecast: Breakup by Region (Million Units), 2023-2028
6. North America Compact Cars Historical Market: Breakup by Country (Million Units), 2018-2022
7. North America Compact Cars Market Forecast: Breakup by Country (Million Units), 2023-2028
8. Europe Compact Cars Historical Market: Breakup by Country (Million Units), 2018-2022
9. Europe Compact Cars Market Forecast: Breakup by Country (Million Units), 2023-2028
10. Asia Pacific Compact Cars Historical Market: Breakup by Country (Million Units), 2018-2022
11. Asia Pacific Compact Cars Market Forecast: Breakup by Country (Million Units), 2023-2028
12. Latin America Compact Cars Historical Market: Breakup by Country (Million Units), 2018-2022
13. Latin America Compact Cars Market Forecast: Breakup by Country (Million Units), 2023-2028
14. Middle East and Africa Compact Cars Historical Market: Breakup by Country (Million Units), 2018-2022
15. Middle East and Africa Compact Cars Market Forecast: Breakup by Country (Million Units), 2023-2028
16. Global Compact Cars Market Structure
Key Questions Answered in the Report
In 2022, the market observed a sale of approximately 6.85 million units.
The major drivers of the industry, such as the increasing demand for energy efficient vehicles, rising disposable incomes, increasing urban population, growing traffic congestion, favourable government initiatives, and growing technological advancements, are expected to aid the market growth.
The key market trend guiding the growth of the industry includes the rising demand for electric compact cars owing to the increasing awareness regarding the environment.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading fuel types of compact cars in the market are diesel, electric, and gasoline, among others.
The major players in the industry are Suzuki Motor Corporation, Toyota Motor Corporation, Honda Motor Company, Ltd., Tata Motor Limited, General Motors Company, and Nissan Motor Corp, among others.
Analyst Review
The compact car market is further expected to grow at a CAGR of 4.1% between 2023 and 2028, driven by the rising demand for energy efficient vehicles .
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By fuel type, the global compact cars market is segmented into diesel, electric, and gasoline, among others. The major regional markets for compact cars are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Suzuki Motor Corporation, Toyota Motor Corporation, Honda Motor Company, Ltd., Tata Motor Limited, General Motors Company, and Nissan Motor Corp, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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