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The automobile sector is divided into four segments: two-wheelers (mopeds, scooters, motorcycles, electric two-wheelers), passenger vehicles (passenger cars, utility vehicles, multi-purpose vehicles), commercial vehicles (light and medium-heavy vehicles), and three wheelers (passenger carriers and good carriers).

The revenue pool in the auto industry is going to dramatically increase and diversify toward on-demand mobility services and data-driven services. It is estimated that this could generate up to $1.5 trillion – or thirty percent more revenue – in 2030, compared to about $5.2 trillion from traditional auto sales and aftermarket products/services in 2015.


Global automotive industry forecasts suggest that it will grow at a CAGR of 5%. Emerging economies such as Asia Pacific have driven this growth, and by 2025 it is expected to become the world’s largest automotive region. Reports also indicate that mass production of electric vehicles and further development of alternate fuel sources such as solar power, wind energy and hydrogen fuel cells will generate a significant amount of new business for established OEMs (Original Equipment Manufacturers) while simultaneously encouraging other start-ups to diversify into new sectors — especially those related to mobility services including ride sharing, and autonomous driving.

Factors that will drive growth in the sector

A number of economic factors influence interest rates, disposable income, unemployment rates, retail price index (inflation), gross domestic product (GDP), and exchange rates. These factors have a profound impact on businesses.
Social factors include the cultural aspects and include awareness, population growth rate, age distribution, career attitudes and emphasis on safety. Social factors affect the demand for a company's products and its business models. As a result, companies may alter their operations in order to comply with these social trends.
Technological factors include ecological and environmental aspects, such as research and development, automation, technology incentives, and the pace of technological change. A technological shift also may lead to a rise in costs, quality, and innovation.
The internet has had a huge impact on the automotive industry, as well as every other industry in the world. Business-to-business marketplaces have brought many benefits to the industry due to the Internet, such as greater efficiency and reduced costs.