Automotive Industry: A Global Outlook
San Jose, CA (PRWEB) January 19, 2009
Although the ongoing turmoil in the world economy acts as a deterrent to growth, especially in developed markets like US, Japan and Western Europe, Asia-Pacific along with Latin America are expected to emerge into lone bright spots offering promises of better growth prospects. This is especially so in the passenger car segment. Market for commercial vehicles is expected to witness the worst downturn, given the fact that the United States ranks as the single largest market accounting for over 40% of global sales. Given the segment's extreme vulnerability to fuel prices, fuel price hikes have derailed growth especially in the medium- and high-load truck segments.
However, as the industry recovers poise from the present slowdown, several factors are expected to drive growth such as, resurgence of latent demand dynamics in BRIC (Brazil, Russia, India and China), which until now has been temporarily lulled by the unfavorable economic climate, and revival of economic growth, consumer confidence, wealth and spending across other geographic markets. In, addition, innovation is also expected to play an instrumental role in influencing growth prospects in the market. For instance, smart automobiles, which offer safety, fuel efficiency, lower maintenance, comfort, and cost efficiencies, are forecast to score maximum gains in the marketplace. Also poised to gain are environmentally friendly automobiles powered by the fusion of computers and telecommunications.
Despite all the opportunities in store, the automotive industry will continue to witness challenges in the form of overcapacity issues, maturing US, Western European and Japanese markets, increasing competition, price wars, shorter product life cycles of new passenger cars, and environmental regulations governing emissions, among others. With rising raw material costs, such as, spiraling prices of steel and petroleum-based plastics, pushing manufacturers against the wall, shifting of production bases into low cost Asian countries is expected to continue in the short to medium term.
The report, titled "Automotive Industry: A Global Outlook", provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the world automotive industry, and identifies major trends, issues, challenges and growth drivers. Market discussions in the report are punctuated with 95 fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, Europe, China, India, Indonesia, Brazil, Argentina, and Mexico, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 2160 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Automotive_Industry_Market_Report.asp
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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