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The global compact cars market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Compact cars fall between mid- and subcompact-sized vehicles that have a combined passenger and cargo interior volume. These cars consume less fuel and are affordable as well as easy to drive and park compared to large and luxury vehicles. They are gaining traction across the globe due to the growing consumer inclination towards more economical, convenient, and environmentally friendly alternatives. At present, on account of the continuously advancing technology, leading manufacturers are offering automatic transmissions in compact cars to enhance the overall driving experience.
The emerging solo driving trend on account of convenience offered represents one of the main factors shifting consumer preferences towards compact cars that are well suited for short commutes. Moreover, the substantially increasing traffic congestion and lack of parking space on urban road networks, along with stringent regulations imposed by governments of numerous countries to minimize carbon emissions of vehicles, are encouraging automotive manufacturers across the globe to reduce car size and weight. Apart from this, several leading manufacturers are offering customized models with added features, such as television (TV) and wheel rims. These manufacturers are also collaborating with foreign original equipment manufacturers (OEMs) and increasingly investing in the manufacturing and research and development (R&D) facilities to improve the design and efficiency of compact cars. Furthermore, surging fuel prices and growing environmental concerns are leading consumers to favor economical and lightweight cars. This is anticipated to impel the growth of the market in upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global compact cars market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on fuel type and application.
Breakup by Fuel Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ford Motor Company, General Motors, Hyundai Motor Group, Renault Group, Stellantis N.V, Suzuki Motor Corporation, Toyota Motor Corporation and Volkswagen AG (Porsche Automobil Holding SE).
|Base Year of the Analysis||2020|
|Segment Coverage||Fuel Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Ford Motor Company, General Motors, Hyundai Motor Group, Renault Group, Stellantis N.V, Suzuki Motor Corporation, Toyota Motor Corporation and Volkswagen AG (Porsche Automobil Holding SE).|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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