The automotive seat cover market was valued at US$ 5.1 billion in 2019 … What are your ambitions in the automotive industry between now and 2030? Leverage partnerships: The industry is transforming from competition among peers toward new competitive interactions, but also partnerships and open, scalable ecosystems. Automotive Wheel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 Automotive Wheel Market – Scope of … Despite a shift toward shared mobility, vehicle unit sales will continue to grow, but likely at a lower annual rate of about 2%. By contrast, in rural areas private-car usage will remain the preferred means of transport. Self-driving cars, also known as autonomous vehicles (AV), are a key innovation in the automotive industry. Understanding where future business opportunities lie requires a more granular view of mobility markets: by city types based primarily on their population density, economic development, and prosperity. The industry is transforming from competition among peers toward new competitive interactions, but also partnerships and open, scalable ecosystems. Traditional automotive players will feel the squeeze, likely leading to shifting market positions in the evolving automotive and mobility industries, potentially leading to consolidation or new forms of partnerships among incumbent players. 1. Changing consumer preferences, tightening regulation, and technological breakthroughs add up to a fundamental shift in individual mobility behaviour. Adoption rates will be highest in developed dense cities with strict emission regulations and consumer incentives (tax breaks, special parking and driving privileges, discounted electricity pricing, et cetera). This drop will be largely driven by macroeconomic factors and the rise of new mobility services such as car sharing and e-hailing. We already see early signs that the importance of private-car ownership is declining: in the US, for example, the share of young people (16 to 24 years) who hold a driver’s license dropped from 76% in 2000 to 71% in 2013, while there has been over 30% annual growth in car-sharing members in North America and Germany over the last five years. The type of city will thus become the key indicator for mobility behavior, replacing the traditional regional perspective on the mobility market. A progressive scenario would see fully autonomous cars accounting for up to 15% of passenger vehicles sold worldwide in 2030 (Exhibit 2). Individuals increasingly use multiple modes of transportation; goods and services are delivered to rather than fetched by consumers. Reshape the value proposition: Car manufacturers must further differentiate their products and services, and change their value proposition from traditional car sales and maintenance to integrated mobility services. This could create up to $1.5 trillion—or 30 percent more—in additional revenue potential in 2030, compared with about $5.2 trillion from traditional car sales and aftermarket products/services, up by 50 percent from about $3.5 trillion in 2015 (Exhibit 1). City type will replace country or region as the most relevant segmentation dimension that determines mobility behaviour. New mobility services may result in a decline of private-vehicle sales, but this is likely to be offset by increased sales in shared vehicles that need to be replaced more often due to higher utilisation and related wear and tear. The global autonomous vehicle market demand is estimated to be at approximately 6.7 thousand units in 2020 and is anticipated to expand at a CAGR of 63.1% from 2021 to 2030. Hence, up to one out of ten new cars sold in 2030 may likely be a shared vehicle, which could reduce sales of private-use vehicles. At the same time, it is important to note that electrified vehicles include a large portion of hybrid electrics, which means that even beyond 2030, the internal-combustion engine will remain very relevant. Through continuous improvements in battery technology and cost, those local differences will become less pronounced, and electrified vehicles are expected to gain more and more market share from conventional vehicles. At the same time, it is important to note that electrified vehicles include a large portion of hybrid electrics, which means that even beyond 2030, the internal combustion engine will remain very relevant. Consumers’ new habit of using tailored solutions for each purpose will lead to new segments of specialised vehicles designed for very specific needs. Stricter emission regulations, lower battery costs, more widely available charging infrastructure, and increasing consumer acceptance will create strong momentum for electrified vehicles (hybrid, plug-in, battery electric, and fuel cell) in the coming years. We use cookies to ensure that we give you the best experience on our website. Despite a shift toward shared mobility, vehicle unit sales will continue to grow, but likely at a lower … There will be rapid R&D … The car industry will need to prepare for uncertainty. Once technological and regulatory issues have been resolved, up to 15% of new cars sold in 2030 could be fully autonomous. 55% of all new car sales in Europe may be fully electrified by 2030. New business models could expand automotive revenue pools by about 30%, adding up to US$1.5tr. This is one of the latest technologies in the automotive industry. This drop will be largely driven by macroeconomic factors and the rise of new mobility services such as car sharing and e-hailing. Therefore, articles and posts do not necessarily reflect the view of Continental. If you continue to use this site we will assume that you are happy with it. Consumers today use their cars as all-purpose vehicles. Consumer mobility behaviour is changing, leading to up to one in ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-purpose mobility solutions. Automotive will be no exception. Understanding where future business opportunities lie requires a more granular view of mobility markets: By city types based primarily on their population density, economic development, and prosperity. Incumbent players will be forced to compete simultaneously on multiple fronts and cooperate with competitors. three – the structure of the automotive industry in 2030 Technology advances and increasingly varied demand will mean that automakers themselves develop less and less of what they produce. The speed of adoption will be determined by the interaction of consumer pull (partially driven by total cost of ownership) and regulatory push, which will vary strongly at the regional and local level. “eascy” – Five trends that are driving the transformation of the automotive industry … One of the biggest challenges is to reduce the weight of automobiles to reduce fuel consumption.It is expected that a 10% reduction in curb weight can result in a 6%-8% reduction in fuel consumption. Fully autonomous vehicles are unlikely to be commercially available before 2020. However, once these challenges are addressed, autonomous vehicles will offer tremendous value for consumers. In 2030, the share of electrified vehicles could range from 10% to 50% of new-vehicle sales. As a result, the traditional business model of car sales will be complemented by a range of diverse, on-demand mobility solutions, especially in dense urban environments. Digitization, automation, and new business models have revolutionized other industries. Regulation and consumer acceptance may represent additional hurdles for autonomous vehicles. In megacities such as London, for example, car ownership is already becoming a burden for many, due to congestion fees, a lack of parking, and traffic jams. Expected inventory decrease by country by 2030: Europe 25% decrease, United States 22% decrease, and China 50% decrease. The automotive seat cover market was valued at US$ 5.1 billion in 2019 and is expected to reach US$ 8.3 billion by 2030 at a CAGR of 4.5% through 2030. This would mean that more than 30% of miles driven in new cars sold could be from shared mobility. 6 Automotive revolution – perspective towards 2030 SOURCE: McKinsey The automotive revenue pool will grow and diversify with new services potentially becoming a ~USD 1.5 trillion market in 2030 Today Traditional automotive revenues Vehicle sales dominant 2.750 4.000 720 1.200 1.500 +30% 30 6,700 4.4% p.a. We calculated the market size and revenue share on the basis of revenue generated from the sales of automobile and component manufacturers across Germany. Diverging markets will open opportunities for new players, which will initially focus on a few selected steps along the value chain and target only specific, economically attractive market segments – and then expand from there. Car manufacturers must further differentiate their products/services and change their value proposition from traditional car sales and maintenance to integrated mobility services. However, vehicle sales are expected to rise because the vehicles will need to be replaced more often as a result of more frequent useage. The automotive cybersecurity market reached a value of $7,280.2 million by 2030, increasing from $1,152.7 million in 2019, advancing at an 18.5% CAGR during the … Digitisation, automation, and new business models have revolutionised other industries. Global automotive cybersecurity market will reach $10.92 billion by 2030, growing by 17.3% annually over 2020-2030 owing to the rising need … 4. The increasing speed of innovation will require cars to be upgradable. Electrification. Press release - Fortune Business Insights - Automotive Chassis Industry Forecast 2030 - Featuring Schaeffler, Continental Ag, ZF, Aisin Seiki, Magna and more - published on openPR.com For example, only two new players have appeared on the list of the top-15 automotive original-equipment manufacturers (OEMs) in the last 15 years, compared with ten new players in the handset industry. What automobile industry trends and disruptive technologies might drive the automotive industry in 2020? By contrast, in rural areas private-car usage will remain the preferred means of transport. While Tesla, Google, and Apple currently generate significant interest, we believe that they represent just the tip of the iceberg. Electrified. Enjoy autonomous driving content direct to your inbox, Follow us on our social networks for up to date information and thoughts on automated driving. Automotive incumbents cannot predict the future of the industry with certainty. The world is gradually … As a result, the traditional business model of car sales will be complemented by a range of diverse, on-demand mobility solutions, especially in dense urban environments. Follow this link to download the full issue. While other industries, such as telecommunications, have already been disrupted, the automotive industry has seen very little change and consolidation so far. This would mean that more than 30 percent of miles driven in new cars sold could be from shared mobility. Overall global car sales will continue to grow, but the annual growth rate is expected to drop from the 3.6 percent over the last five years to around 2 percent by 2030. The Internet of Things (IoT) has led to a wave of connectivity … Connectivity, and later autonomous technology, will increasingly allow the car to become a platform for drivers and passengers to use their time in transit to consume novel forms of media and services or dedicate the freed-up time to other personal activities. The report covers the present ground scenario and the future growth prospects of the Germany automotive industry for 2017-2030 along with the total sales of automobiles in the country and international markets, and the total revenue from aftermarkets, service providers, and automotive components industry. Many more new players are likely to enter the market. One area where the traditional auto industry lacks skills is software, and much of the new technology that will go in cars is first being developed outside the automotive world, in particular by digital companies. But a PwC report found the Bill of Material (BOM) for car manufacturers will increase by 44% by 2030. With established markets slowing in growth, however, growth will continue to rely on emerging economies, particularly China, while product-mix differences will explain different development of revenues. The speed of adoption will be determined by the interaction of consumer pull (partially driven by total cost of ownership) and regulatory push, which will vary strongly at the regional and local level. These forces are giving rise to four disruptive technology-driven trends in the automotive sector: diverse mobility, autonomous driving, electrification, and connectivity. 3,500 USD billions New automotive revenues, 2030 5G in Automotive and Smart Transportation Market - Global Industry Analysis and Opportunity Assessment, 2020-2030 Size and Share Published in 2020-09-25 Available for US$ 5000 at Researchmoz.us This site uses cookies, including third-party cookies, that help us … A paradigm shift to mobility as a service will inevitably force traditional car manufacturers to compete on multiple fronts. Fully autonomous vehicles are unlikely to be commercially available before 2020. The global automotive industry is undergoing a cascade of disruptions that will reshape it in unexpected ways, and India will be no exception to this. Our global EV forecast is for a compound annual growth rate of 29 per cent achieved over the next ten years: Total EV sales growing from 2.5 million in 2020 to 11.2 million in 2025, then reaching 31.1 million by 2030. The market introduction of ADAS has shown that the primary challenges impeding faster market penetration are pricing, consumer understanding, and safety/security issues. Through continuous improvements in battery technology and cost, those local differences will become less pronounced, and electrified vehicles are expected to gain more and more market share from conventional vehicles. This article aims to make the imminent changes more tangible – and looks at eight areas that will change dramatically until 2030: The automotive revenue pool will significantly increase and diversify toward on-demand mobility services and data-driven services. Follow this link to download the full issue. In the future, they may want the flexibility to choose the best solution for a specific purpose, on demand and via their smartphones. Consumers today use their cars as all-purpose vehicles. The automotive revenue pool will significantly increase and diversify toward on-demand mobility services and data-driven services. EVs would secure approximately 32 per cent of the total market share for new car sales (see figure 2). Across those segments, consumer preferences, policy and regulation, and the availability and price of new business models will strongly diverge. Ride-hailing apps like Uber, Lyft and Bolt are incredibly popular but are a relatively … Leverage partnerships. And 42 percent have a high sense of urgency.… 2. Hyundai receives four Automotive Best Buy awards from Consumer® Guide, Continental Structural Plastics perfects carbon fiber RTM process, launches production programs, LADA increased sales results in November 2020, Siemens Energy and Porsche, with partners, advance climate-neutral e-fuel development, Velodyne Lidar’s Velabit™ wins prestigious Best of What’s New award from Popular Science, Sogefi diesel expertise on the best-selling light commercial vehicles, Scania: Swedish haulier Wobbes utilises the full power of the V8, Christian Friedl becomes new Director of the SEAT plant in Martorell, Manolito Vujicic appointed new Head of Porsche Division India. 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