The study involved analyzing the recent developments, trends, and performance of the players as well as the overall automobile industry in 2024, along with the projections for 2025. The analysis was based on the sales volume of light vehicles around the world. The study is also based on an analysis of the major milestones in the automotive industry across vehicle connectivity, electrification, autonomous vehicles, and other critical aspects in 2024. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up approach was employed to estimate the complete market size in terms of vehicle sales for the segments considered. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary sources referred for this research study include automotive OEMs, Tier I/II companies, and publications from government sources, automotive associations & databases [such as country level automotive associations and organizations, International Energy Agency (IEA), Organization Internationale des Constructeurs d’Automobiles (OICA), European Automobile Manufacturers Association (ACEA), MarkLines and others]; corporate filings (annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Secondary data has been collected and analyzed to determine the overall sales volume, further validated through primary research.
Primary Research
Extensive primary research has been conducted after understanding the global automotive market scenario through secondary research. Primary research was done to understand and validate the findings on the automotive industry's performance in 2024 and validate the projections made for 2025.
Several primary interviews have been conducted with market experts from both the demand (OEMs/vehicle manufacturers) side across four major regions: North America, Europe, Asia Pacific, and the Rest of the World. Approximately 80% of the experts involved in primary interviews have been from the demand side, and 20% have been from the industry's supply side. Primary data has been collected through questionnaires, emails, and telephonic interviews. Several primary interviews have been conducted from various departments within organizations, such as sales, operations, administration, to provide a holistic viewpoint in the report.
After interacting with industry participants, some brief sessions have been conducted with experienced independent consultants to reinforce the findings from the primary interviews. This, along with the opinions of the in-house subject matter experts, has led to the findings delineated in the rest of this report.
Market Size Estimation
The bottom-up and top-down approaches were used to estimate and validate the global light vehicle sales volume. This approach was also used to identify the sales of various subsegments in the market. The research methodology used to estimate the market includes the following:
Global Automotive Outlook : Top-Down and Bottom-Up Approach
Market Definition
Global automotive outlook 2025 includes analyses the key trends to impact the global automotive industry in 2025, the trends include electrification to slow down, hybrid sales to boost, online car sales in demand, battery second life, circular economy, ADAS level transition to Level 3 & 4, first gen SDVs and others. The report also focuses on the developments in the automotive industry in 2024.
Stakeholders
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Automobile Organizations/Associations
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Automotive OEMs
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Automotive System Manufacturers
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Automotive Electronics Manufacturers
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Automotive Technology Providers
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Aftermarket Players
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Country-specific Automotive Associations
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European Automobile Manufacturers Association (ACEA)
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EV Manufacturers
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EV Component Manufacturers
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EV Charging Infrastructure Companies
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Authorized/Independent Aftermarket Players
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Automotive TechGovernment & Research Organizations
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Raw Material Suppliers for the Automotive Industry
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Software Providers
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Traders, Distributors, and Suppliers of Automotive Components
Report Objectives
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To analyze the light vehicle market performance in 2023-2025
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To provide key developments achieved in 2024.
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To identify the trends that are likely to impact the market in 2025.
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To identify major growth segments and opportunities for 2025.
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To project the light vehicle sales in 2025
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To track and analyze competitive developments such as deals (joint ventures, mergers & acquisitions, partnerships, collaborations), product developments, and other activities carried out by key industry participants.
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