San Jose, California (PRWEB) September 11, 2013
Follow us on LinkedIn – Over the next five weeks, GIA will complete an extensive secondary and primary research program involving some of the industry’s leading players and experts. The study will examine key drivers and trends impacting the market such as escalating fuel prices; focus on fuel efficient cars and ensuing demand for compact cars; rising production of electric and hybrid cars; increasing demand for flex-fuel vehicles in emerging markets; and growing popularity of diesel engine powered cars guided by superior fuel economy benefits as compared to gasoline powered cars.
World market for Passenger Cars is expected to witness steady growth driven by growing demand and production of passenger cars in developing countries especially in the BRICs, and modestly rebounding replacement demand in developed countries, particularly the United States. Flex-fuel vehicles are growing in popularity given their numerous benefits such as, environment friendly footprint, tax benefits and reduced dependence on fossil based transportation fuels. Especially expected to grow in demand are flex-fuel vehicles designed to run on a mixture of either ethanol or methanol and gasoline. Rising fuel prices and stringent vehicular emission norms, is creating a shift in consumer preference for diesel engine powered passenger cars. Key benefits of diesel cars triggering their adoption include robust engine design, fuel economy, lower maintenance costs, lesser tailpipe emissions, and developments in diesel powertrain technology that make these cars virtually silent, and easy to operate.
In the coming years, electric and hybrid cars are also expected to witness increased demand supported by numerous government programs designed to incentivize the development of infrastructure to support these vehicles and encourage consumer adoption. Consumer tax credits, and research and development incentives, for instance are helping boost demand and commercial viability of electric cars. Focus on reducing petroleum dependence, propagation of environmental stewardship, and focus on developing a sustainable transportation system, will help drive future gains in this market segment.
Another key trend in the passenger cars market is the evolution of smart cars with numerous safety and entertainment features. Against this backdrop, electronic content per car is increasing. Currently available premium-class automobile typically contain over 100 million lines of software codes all designed and executed by 70 to 100 microprocessor-based electronic control units (ECUs). On an average, even the low end, economy cars feature 30 to 50 microprocessor-based electronic control units (ECUs) networked through the body of the car. Software content per car as measured by the cost of electronics as a percentage of total vehicle costs have risen from a low of 9% during the 1970s to over 40%.
The study estimates sales of Passenger Cars to be over 50 million units worldwide, while more precise market-size and growth projections for a 14-year period will be made available during the 2nd stage of report update, and data analysis.
The research and analyses will be released in the next 5 weeks in the form of a comprehensively updated research report. The report by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modelled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
Developed for Automobile Manufacturers, Strategic Planners, Management Consultants, Investment Bankers, Consulting Firms, Marketing & Sales Executives, C-Level Decision Makers and Market Strategists, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
For more details about how you can participate, please click here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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