North America Automotive Industry Outlook : Analysis of Growth, Trends Progress and Challenges (2015-2020)
The North America Automotive Market is expected to grow at a CAGR of 6.27% and grow to a market size of $ X.XX billion by the year 2020. The market was badly affected by the global economic crisis, which intensified with the collapse of Lehmann Brothers. Detroit, which is one of the most important manufacturing hub in the world had to be bailed out by the government. But market led by United States has picked up considerably well since 2009. Mexico on account of increased exports and increased domestic market has seen the fastest rate of growth.
Going into the future, Mexico will remain as the fastest growing market in North America. Its domestic market, which was playing second fiddle to the export market till now, will see a strong rate of growth as rising disposable incomes in Mexico will allow an increased number of population to purchase the cars being produced in the country. Canada will record the slowest overall growth till 2020.
On account of improving relations between United States and Cuba, its market will gradually open over the next few years. This will give, American car manufacturers massive opportunities as the population has been deprived of quality products for many years. Opening of Cuba’s domestic automobile market will result in considerable bump in automobile sales over the coming 5 years.
Canada will grow the fastest in the Heavy commercial Vehicle segment. Replacement demand fuelled by the change in emission standards, will fuel the growth in the HCV segment in Canada.
Aluminum trucks are in high demand from customers, especially the well aware ones who know the benefits of an aluminum construction. Although the sales figures might not show it, the demand of the F 150 is strong and the relatively disappointing figures are more a result of supply crunch than anything else. Ford is in the process of getting the Kansas City plant online, which considerably will improve the production capacity, especially in the Pickup truck arena. Mexico on back of rising domestic and export demand will lead the sales growth in the LCV segment.
Ford, General Motors, Fiat-Chrysler are some of the important players in the North America Automobile Industry. The market outlook segmented by vehicle type (HCV,LCV, Passenger Vehicles), and by Country (United States, Canada , Mexico and Others).
What the report offers
Market analysis for North America Automotive Industry Outlook specific assessments and competition analysis on global and regional scales Market definition along with the identification of key drivers and restraints Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect North America Automotive Industry Outlook on both global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped
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