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(MoneyNewsWire.Net, July 19, 2018 ) The motor vehicles manufacturing industry manufactures motorcycles, bicycles, automobiles, light trucks and heavy duty trucks. The motor vehicles manufacturing market in this report is segmented into commercial vehicles manufacturers, passenger car manufacturing, and motorcycle, bicycles and parts manufacturing markets.
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The substantial reason for the growth of the global motor vehicles market from $3.5 trillion in 2017 to $4+ trillion by 2021 is an expected increase in the demand for hybrid and electric vehicles spurred by technological developments, innovation and changing environmental regulations.
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China was the largest country in the motor vehicles manufacturing market, accounting for around two-fifth of the market share, mainly due to the country’s large population using motor vehicles. It was followed by the USA, Germany and Japan.
The motor vehicles manufacturing market is fragmented with a large number of players among which the biggest player was Toyota Motor, followed by Volkswagen Group, Diamler AG, Ford Motor and General Motors. Toyota Motor is a Japanese vehicle manufacturer. The company is headquartered in Aichi, Japan and had 348,877 employees as of March 31, 2017. Toyota Motor operates through three divisions i.e. Automotive division, Financial services division and Other business operations, which include design and manufacture, IT related business and many others.
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