Motor Vehicle Market Outlook 2024 - 2028

Global Motor Vehicle Trends in 2024

Motor Vehicle is part of Automotive and includes a number of sub-sectors such as Electric Vehicle, Motorcycle, Light Vehicle and Commercial Vehicle. You may also be interested in Auto Insurance.

Global vehicle registrations are projected to rise from approximately 97.8 million units in 2023 to 103.2 million units by 2028, marking a compound annual growth rate (CAGR) of 0.9%. Since 2010, the global market has seen a year-on-year increase of 0.4%. In 2023, Australia led the world in vehicle registrations with 48.1 million units. Following closely were Canada, China, and Austria, ranking second, third, and fourth, respectively. Notably, Austria experienced a significant year-on-year increase of 136%, while Nigeria saw a decline of 27.4% since 2010. Global vehicle production reached 80.1 million units in 2021, up from 77.7 million units in 2020, reflecting a 3.1% increase from the previous year. However, since 2003, the global supply has decreased by 3.4% year-on-year. China topped the vehicle production rankings in 2021 with 26.4 million units. The United States, Japan, and Germany followed in the second, third, and fourth positions, respectively. Kazakhstan showed a significant year-on-year growth of 32.6%, whereas Serbia's production declined by 8.3% since 2003.

Top 10 countries

In 2024 major markets in the Motor Vehicle Industry were:

• Mexico
• Canada
• Denmark
• Switzerland
• Netherlands
• Brazil
• France
• Sweden
• Austria
• Belgium

World Motor Vehicle Market Data and Forecasts

Global Motor Vehicle Statistics

• Greenhouse Gas Emissions 223 countries (Asia, Europe, Southeast Asia...)
• Vehicle Export 193 countries (Asia, Europe, Southeast Asia...)
• Vehicle Import 198 countries (Asia, Europe, Southeast Asia...)
• Number Of Employees 207 countries (Europe, Northern Europe, Southern Europe...)
• Enterprise Survival Rate 48 countries (Europe, Northern Europe, Eastern Europe...)
• Employment Rate 233 countries (Europe, Northern Europe, Eastern Europe...)
• Business Birth 52 countries (Europe, Northern Europe, Western Europe...)
• Truck Import 191 countries (Africa, Sub-Saharan Africa, Asia...)
• Trade Balance 221 countries (Asia, Europe, Africa...)
• Number Of Enterprises 66 countries (Europe, Northern Europe, Southern Europe...)

Global Motor Vehicle Industry Database