The Microcars industry is not highly concentrated, there are more than thirty manufacturers in the world, and high-end products mainly come from Japan and Europe.
In the world wide, major manufactures mainly are Daihatsu, Fiat, Suzuki Motor and Honda etc.
Europe and Asia are the largest consumers of Microcars and are expected to retain the higher growth rate during the next five years due to strong growth in demand. Japan and India have witnessed a major chunk of the production and consumption of Microcars in the Asia Pacific region. Actually, that is why manufacturers have several plants, usually close to aimed demand market.
The import and export business of this industry is not frequent. The main reason lies in that many international manufacturers expand their business through building factories or investments in targeted markets. Also, many major players have built up plants in developing countries, like India and Thailand.
Due to the advantage on price and practicability, microcars are popular in Japan, Europe and some other developing countries. In future, developing countries will provide a great power to the development of microcars. What’s more, the development of electric vehicle should be another driving factor to the microcars industry.
We tend to believe this industry now is close to mature, and the demand increasing degree will show a smooth curve. On product prices, the slow downward trend in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The worldwide market for Microcars is expected to grow at a CAGR of roughly 0.9% over the next five years, will reach 54300 million US$ in 2024, from 51600 million US$ in 2019.
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Market Segment by Type, covers:
Market Segment by Applications, can be divided into:
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