Automotive Market in US Synopsis

Automotive Market in US Size Was Valued at USD  1 Trillion in 2023, and is Projected to Reach USD  1.75 Trillion by 2032, Growing at a CAGR of 6.40% From 2024-2032.

The subject of automotive market in United States relates to the manufacture, sale and delivery of passenger cars besides other small vehicles including commercial cars, motorcycles and auto rickshaws. It represents one of the biggest global markets that possess high demand and focuses on new technologies and environmental concerns.

• Automotive market in United States is a fast growing sector that has been shaped by change in customer trends, upgrade in technology and changes in legislation. Another factor that currently drives this market is growth in electric vehicles or EVs consumer awareness due to increased consciousness and government push. Most systematic car makers like Ford, General Motors together with new generation car manufacturing companies such as Tesla are deploying capital to develop electric vehicles to meet the growing demand of clean technologies in the transportation sector. There are several factors that help to drive the use of electric cars; the Obama’s administration polices promoting sustainability, increase in number of charging stations and so on.
• However, the internal combustion engine vehicles still act as a majority within the global automotive context, primarily because some segments of the markets, and certain countries or regions, still have not achieved EV saturation or may not have the infrastructure capable of supporting a move towards fully electrified transportation networks. This is actually forming a rather confused picture, as manufacturers have to invest both in electric vehicles and enhancing the ICE technologies in order to meet short-term market dynamics.
• Together with electrification, connectivity and automation are gradually entering the American automotive market. AI technologies, sensors, and data analysis in the transport sector are expected to pave the way for self driving vehicles and many automobile manufacturers are planning to unleash their self-driving devices in the controlled environment. Self-driving cars may remain a futuristic reality well into the future, but the ongoing trend towards connected vehicles is creating new expectations. Common technologies like ADAS, in-car entertainment, over-the-air updates have become standard in many new models signaling a major a shift toward the utilization of software and data in a car.
• On the another hand, security and protection of personal data during the usage of cars, which are equipped with numerous electronics and which use cloud technologies for operation, became the pressing issues. This merging of two fields of technology and automotive design is also paving the way to new possibilities of strategic collaborations between traditional car manufacturing companies and technology giants, shifting the automotive industry’s business models even more.
• One more factor influencing the markets of automobiles in the US is volatility The readiness and willingness of consumers to purchase automobiles in the US to a certain extent depends on the readiness of patients to a certain extent is determined by the readiness of the economic cycles. In general, an increase in car sales stems from economic stability when luxury vehicle and trucks are favored by consumers. Nevertheless, when it comes to an economic crisis or when the stock market is not very stable, people tend to buy cars that are not only cheaper but also more economical with fuel consumption, and not cosmetic comfort. In addition, the disruptions caused by the coronavirus have played a part in changing supply and demand in automotive and have constrained vehicle production and availability. Restrictions in supplies of semiconductors all over the globe, for instance, restricted automobile production, which led to lower inventories, and higher retail prices of automobiles. They also demonstrate how the automotive market is sensitive to the economic and logistical events in the production of manufactured goods and services.
• Last but not the least, regulatory factors are also considered to have key influence on the market of automotive industry in the United States. Newer specific standards implemented based on emissions and highest fuel economy are forcing manufacturers to raise their stakes higher and bring augmentations in different cars in which fuel efficiency is raised; traditional engines having to be supplemented by hybrids or consist of total electric ones.
•  Furthermore, safety standards are are being progressively tightened especially as automobiles are fitted with intelligent and partly automated components. Adherence to these regulations thus entails a huge outlay on research and development which could be a problem with producers of limited scale. However, there is considerable disjointedness in the legal structure, mainly because the individual states of the United States have often their own laws as distinct from the federal laws, especially where environment issues are involved. This has been evidenced by the case of California which has always put into place stricter emission standards than the federal government which makes it even more challenging for automobile company who have operation in these two regions. Nevertheless, the difficulties are being overcome, and, today, the American automotive market remains one of the most liberal and progressive in the global scale.

Automotive Market in US Trend Analysis

Electric Vehicle (EV) Growth

• The emergence of green cars is one of the most emerging trends or Rather one could even majorly define the upcoming change in the automotive market of the United States. Thus, increasing the awareness of the environment and emissions, customers are going to buy EVs. There are plans of the government supporting this through provision of tax credits and subsidies. Companies in the automobile industry are intensifying efforts to diversify their portfolios of electric vehicles. Many automakers, starting with the new players Tesla, Rivian, to the traditional incumbents Ford and General Motors, have dedicated ample capital to offer more electric vehicle options.
• It has been predicted that this trend is to reshape the automotive market in The United States of America, where electric vehicle sales are anticipated to increase in the future ten-year span. With EV charging infrastructure growth and improvements in battery technology, the two main concerns of consumers – the problem of intermediate range – are being addresses. However, considering the Biden administration efforts on the clean energy policies and reducing carbon traces, EVs are going mainstream taking the automotive market to a sustainable direction.

Autonomous Vehicle Technology

• The technology of autonomous driving is one of the biggest opportunities for the U.S. automotive market had. Fully or partially autonomous vehicles that are now in the testing and the prototype stage hold the potential of an immense increase in user satisfaction and safety of transportation. Current contenders in this space include Waymo, Tesla, as well as Cruise, all of which are pushing ahead the research on constructing capable autonomous driving networks for different traffic situations.
• The deployment of the commercial AV can potentially create new opportunities in the mobility services such as personal transport, transportation of parcels and goods. Technological enabler of telematics is advancing and therefore more collaborations between those technology companies and auto industry firms are being observed. This opportunity is further complemented by increased interest in creating smarter cities and connected transportation systems moving forward with additional fabricated revenue models for either car makers or technology resolution suppliers.

Automotive Market in US Segment Analysis:

Automotive Market in US Segmented based on Vehicle Type, Fuel Type,Service, and Equipment.

By   VechicleType, Passenger car  segment is expected to dominate the market during the forecast period

• In the U.S., it is the passenger car that contributes most of the automotive market as it fuels most of the property and casualty insurance business. As car usage increases, insurance firms present several protection choices which include collision, liability insurance, and comprehensive insurance. Car users require special insurance solutions and EVs, as well as other smart cars, cost more to replace or maintain. As these vehicles advanced, so does the risks tied into them, thus insurance firms had to adapt and start offering policies catering for the increasing levels of sophistication of today’s automobiles.
• To trucks and other commercial vehicles, the Property & Casualty Insurance Market is highly relevant. Fleets used for logistical and delivery services, and transportation need great coverage insurance because such vehicles have more risk factors within road time, mechanical failure, and accidents. Insurance of commercial vehicles has to take into consideration the fact that these vehicles are frequently used in the United States economy and it is likely that the associated liability will also be higher. Insurers are targeting individual vehicles and segments, hence designing products that fit the segment kinds, thus promoting segmentation.

By Service , Exterior and Structural segment held the largest share in 2023

• Mechanical services, including regular services, repair, failure, and analysis, bear a close relationship to property and casualty insurance claims. Mechanical problems are one of the most closely related areas of insurance claims because often expensive work is required to repair or replace the engine. MBI is becoming increasing popular, as car owners do not want to pay when their warranties run out and they need a significant repair. This service area brings out issue of vehicle maintenance in order to ensure that vehicles do not break down frequently leading to huge insurance claims.
• Due to technological advancement in vehicles, the risks and opportunities for electrical and electronics services are very dynamic. The use of infotainment, navigation, and self-driving technology in automobiles leads to the frequent electronic problems, the repair of which may be expensive. Specific insurance policies are emerging to respond to these characteristics, to provide insurance coverage, the level of the technology that exists in today’s cars, to compensate for the costs imposed on consumers when electronic systems stop or fail to function properly.

Active Key Players in the Automotive Market in US

• Ford Motor Company (U.S.)
• General Motors (U.S.)
• Tesla, Inc. (U.S.)
• Fiat Chrysler Automobiles (Netherlands)
• Toyota Motor Corporation (Japan)
• Honda Motor Co., Ltd. (Japan)
• BMW AG (Germany)
• Daimler AG (Germany)
• Volkswagen AG (Germany)
• Nissan Motor Co., Ltd. (Japan) and Others Key Player

Key Industry Developments in the Automotive Market in US

• July 2022: Cadillac unveiled the Celestiq show car, a vision of innovation that previews the brand's future handcrafted and all-electric flagship sedan. The Ultium-based electric show car previews some of the materials, innovative technologies, and hand-crafted attention to detail harnessed to express Cadillac's vision for the future.
• July 2022: Amazon began deploying its custom electric delivery vehicles from Rivian for package delivery, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities.
• January 2022: Tesla Inc. had a supply agreement with Talon Metals Corp., a subsidiary of Talon Nickel LLC, for the supply of nickel. This agreement will lead to the production of battery material from mine to battery cathode in order to make the electric vehicle battery more eco-friendly.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: US Automotive Market by Vehicle Type
 4.1 US Automotive Market Snapshot and Growth Engine
 4.2 US Automotive Market Overview
 4.3 Passenger Cars
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Passenger Cars: Geographic Segmentation Analysis
 4.4 Commercial Vehicles
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Commercial Vehicles: Geographic Segmentation Analysis
 4.5 Three Wheelers
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Three Wheelers: Geographic Segmentation Analysis
 4.6 Two Wheelers
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Two Wheelers: Geographic Segmentation Analysis

Chapter 5: US Automotive Market by Fuel Type
 5.1 US Automotive Market Snapshot and Growth Engine
 5.2 US Automotive Market Overview
 5.3 Diesel
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Diesel: Geographic Segmentation Analysis
 5.4 Petrol
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Petrol: Geographic Segmentation Analysis
 5.5 Electric
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Electric: Geographic Segmentation Analysis

Chapter 6: US Automotive Market by Service
 6.1 US Automotive Market Snapshot and Growth Engine
 6.2 US Automotive Market Overview
 6.3 Mechanical
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Mechanical: Geographic Segmentation Analysis
 6.4 Exterior and Structural
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Exterior and Structural: Geographic Segmentation Analysis
 6.5 Electrical and Electronics
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Electrical and Electronics: Geographic Segmentation Analysis

Chapter 7: US Automotive Market by Equipment
 7.1 US Automotive Market Snapshot and Growth Engine
 7.2 US Automotive Market Overview
 7.3 Tires
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Tires: Geographic Segmentation Analysis
 7.4 Seats
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Seats: Geographic Segmentation Analysis
 7.5 Batteries
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Batteries: Geographic Segmentation Analysis
 7.6 Other Equipment Types
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Other Equipment Types: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 US Automotive Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 FORD MOTOR COMPANY (U.S.)
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 GENERAL MOTORS (U.S.)
 8.4 TESLA
 8.5 INC. (U.S.)
 8.6 FIAT CHRYSLER AUTOMOBILES (NETHERLANDS)
 8.7 TOYOTA MOTOR CORPORATION (JAPAN)
 8.8 HONDA MOTOR CO.
 8.9 LTD. (JAPAN)
 8.10 BMW AG (GERMANY)
 8.11 DAIMLER AG (GERMANY)
 8.12 VOLKSWAGEN AG (GERMANY)
 8.13 NISSAN MOTOR CO.
 8.14 LTD. (JAPAN)
 8.15 OTHERS KEY PLAYER.

Chapter 9: Global US Automotive Market By Region
 9.1 Overview
 9.2. North America US Automotive Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Vehicle Type
  9.2.4.1 Passenger Cars
  9.2.4.2 Commercial Vehicles
  9.2.4.3 Three Wheelers
  9.2.4.4 Two Wheelers
  9.2.5 Historic and Forecasted Market Size By Fuel Type
  9.2.5.1 Diesel
  9.2.5.2 Petrol
  9.2.5.3 Electric
  9.2.6 Historic and Forecasted Market Size By Service
  9.2.6.1 Mechanical
  9.2.6.2 Exterior and Structural
  9.2.6.3 Electrical and Electronics
  9.2.7 Historic and Forecasted Market Size By Equipment
  9.2.7.1 Tires
  9.2.7.2 Seats
  9.2.7.3 Batteries
  9.2.7.4 Other Equipment Types
  9.2.8 Historic and Forecast Market Size by Country
  9.2.8.1 US
  9.2.8.2 Canada
  9.2.8.3 Mexico
 9.3. Eastern Europe US Automotive Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Vehicle Type
  9.3.4.1 Passenger Cars
  9.3.4.2 Commercial Vehicles
  9.3.4.3 Three Wheelers
  9.3.4.4 Two Wheelers
  9.3.5 Historic and Forecasted Market Size By Fuel Type
  9.3.5.1 Diesel
  9.3.5.2 Petrol
  9.3.5.3 Electric
  9.3.6 Historic and Forecasted Market Size By Service
  9.3.6.1 Mechanical
  9.3.6.2 Exterior and Structural
  9.3.6.3 Electrical and Electronics
  9.3.7 Historic and Forecasted Market Size By Equipment
  9.3.7.1 Tires
  9.3.7.2 Seats
  9.3.7.3 Batteries
  9.3.7.4 Other Equipment Types
  9.3.8 Historic and Forecast Market Size by Country
  9.3.8.1 Bulgaria
  9.3.8.2 The Czech Republic
  9.3.8.3 Hungary
  9.3.8.4 Poland
  9.3.8.5 Romania
  9.3.8.6 Rest of Eastern Europe
 9.4. Western Europe US Automotive Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Vehicle Type
  9.4.4.1 Passenger Cars
  9.4.4.2 Commercial Vehicles
  9.4.4.3 Three Wheelers
  9.4.4.4 Two Wheelers
  9.4.5 Historic and Forecasted Market Size By Fuel Type
  9.4.5.1 Diesel
  9.4.5.2 Petrol
  9.4.5.3 Electric
  9.4.6 Historic and Forecasted Market Size By Service
  9.4.6.1 Mechanical
  9.4.6.2 Exterior and Structural
  9.4.6.3 Electrical and Electronics
  9.4.7 Historic and Forecasted Market Size By Equipment
  9.4.7.1 Tires
  9.4.7.2 Seats
  9.4.7.3 Batteries
  9.4.7.4 Other Equipment Types
  9.4.8 Historic and Forecast Market Size by Country
  9.4.8.1 Germany
  9.4.8.2 UK
  9.4.8.3 France
  9.4.8.4 Netherlands
  9.4.8.5 Italy
  9.4.8.6 Russia
  9.4.8.7 Spain
  9.4.8.8 Rest of Western Europe
 9.5. Asia Pacific US Automotive Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Vehicle Type
  9.5.4.1 Passenger Cars
  9.5.4.2 Commercial Vehicles
  9.5.4.3 Three Wheelers
  9.5.4.4 Two Wheelers
  9.5.5 Historic and Forecasted Market Size By Fuel Type
  9.5.5.1 Diesel
  9.5.5.2 Petrol
  9.5.5.3 Electric
  9.5.6 Historic and Forecasted Market Size By Service
  9.5.6.1 Mechanical
  9.5.6.2 Exterior and Structural
  9.5.6.3 Electrical and Electronics
  9.5.7 Historic and Forecasted Market Size By Equipment
  9.5.7.1 Tires
  9.5.7.2 Seats
  9.5.7.3 Batteries
  9.5.7.4 Other Equipment Types
  9.5.8 Historic and Forecast Market Size by Country
  9.5.8.1 China
  9.5.8.2 India
  9.5.8.3 Japan
  9.5.8.4 South Korea
  9.5.8.5 Malaysia
  9.5.8.6 Thailand
  9.5.8.7 Vietnam
  9.5.8.8 The Philippines
  9.5.8.9 Australia
  9.5.8.10 New Zealand
  9.5.8.11 Rest of APAC
 9.6. Middle East & Africa US Automotive Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Vehicle Type
  9.6.4.1 Passenger Cars
  9.6.4.2 Commercial Vehicles
  9.6.4.3 Three Wheelers
  9.6.4.4 Two Wheelers
  9.6.5 Historic and Forecasted Market Size By Fuel Type
  9.6.5.1 Diesel
  9.6.5.2 Petrol
  9.6.5.3 Electric
  9.6.6 Historic and Forecasted Market Size By Service
  9.6.6.1 Mechanical
  9.6.6.2 Exterior and Structural
  9.6.6.3 Electrical and Electronics
  9.6.7 Historic and Forecasted Market Size By Equipment
  9.6.7.1 Tires
  9.6.7.2 Seats
  9.6.7.3 Batteries
  9.6.7.4 Other Equipment Types
  9.6.8 Historic and Forecast Market Size by Country
  9.6.8.1 Turkey
  9.6.8.2 Bahrain
  9.6.8.3 Kuwait
  9.6.8.4 Saudi Arabia
  9.6.8.5 Qatar
  9.6.8.6 UAE
  9.6.8.7 Israel
  9.6.8.8 South Africa
 9.7. South America US Automotive Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Vehicle Type
  9.7.4.1 Passenger Cars
  9.7.4.2 Commercial Vehicles
  9.7.4.3 Three Wheelers
  9.7.4.4 Two Wheelers
  9.7.5 Historic and Forecasted Market Size By Fuel Type
  9.7.5.1 Diesel
  9.7.5.2 Petrol
  9.7.5.3 Electric
  9.7.6 Historic and Forecasted Market Size By Service
  9.7.6.1 Mechanical
  9.7.6.2 Exterior and Structural
  9.7.6.3 Electrical and Electronics
  9.7.7 Historic and Forecasted Market Size By Equipment
  9.7.7.1 Tires
  9.7.7.2 Seats
  9.7.7.3 Batteries
  9.7.7.4 Other Equipment Types
  9.7.8 Historic and Forecast Market Size by Country
  9.7.8.1 Brazil
  9.7.8.2 Argentina
  9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research