Europe Automobile Market Size is expected to grow with a CAGR of 3.38% from 2020 to 2030

According to the report by Renub Research, titled “Europe Automotive Vehicle Market Forecast 2021-2030, Share, Insight, Growth, Impact of COVID-19, Opportunity Company Analysis” the Europe Automotive Vehicle Market size reached a value of 15.49 Million Unites in 2020. The European automotive industry continues to be a huge success for increasingly time efficient, safer, and more affordable. The automotive vehicle industry is crucial for Europe’s prosperity. The European automobile industry has a long tradition in development and production. Among its specific attributes belong an undoubtedly high level of technology, the emphasis on safety, and greater sensitivity to the environment. The automotive vehicle industry has been one of the fastest-growing branches of the manufacturing industry over the last decade in Europe.

Europe Automotive Vehicle Market will be 21.59 Million Units by 2030

Automotive Industry is one the Biggest Employment Generator in Europe

Further, the EU is among the world’s biggest producers of motor vehicles, and the sector represents the most significant private investor in research and development (R&D). To strengthen the competitiveness of the EU automotive vehicle industry and preserve its global technological leadership, the automobile industry is supported by several factors such as the availability of robust R&D centers, skilled labor at low cost, and low-cost steel production. As per European Commission in 2021, the automotive vehicle sector grants direct and indirect jobs to 13.8 Million Europeans, representing 6.1% of total EU employment. More than 2.6 Million People operate in the direct manufacturing of motor vehicles, representing 8.5 % of EU employment in manufacturing.

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Electric Vehicles are Future of Automotive Industry in Europe

The industry’s principal categories include Electric Vehicle (EV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Mild Hybrid Electric Vehicle (MHEV), Natural Gas Vehicle (NGV), Fuel Cell Electric Vehicle (FCEV), Diesel Vehicle and Petrol Vehicle. The Mild Hybrid Electric Vehicle represents a technological leap in the European automotive vehicle market. MHEVs bring higher efficiency and lower running costs to flaming engines and could therefore provide promising opportunities for suppliers, OEMs, and customers until electric power train becomes ubiquitous. Also, European consumers’ new habit of using tailored solutions for each purpose will lead to specialized vehicles designed for particular necessities.


Furthermore, the adoption of plug-in electric vehicles ((PHEV) in Europe is actively encouraged by the European Union and several national, provincial, and regional governments in Europe. Various policies have been built to accommodate direct financial support to customers, subsidies for the deployment of charging infrastructure-monetary incentives and manufacturers and long term regulations with specific targets. As per findings, Europe wills registration new plug-in hybrid electric vehicles (PHEVs) under 200,000 units in 2021.


COVID-19 Impact on European Automotive Industry

The impact of COVID-19 has been widely visible across all the automotive vehicle industries around Europe. Although some sectors are struggling due to the pandemic, the automotive vehicle industry has seen a massive fall in demand for new cars during the lockdown period, and it is also due to travel restrictions. The corona virus (COVID-19) pandemic has brought the decade of expansion in the European automotive industry to an abrupt standstill. While, there have been more job cuts behind the sector, with plants and suppliers closing down in countries where the sales are slowest to recover.


Companies Performance

In addition, the European automotive vehicle market is moderately consolidated with existing players such as Toyota Motor Volkswagen, Corporation, Daimler AG, Ford Motor Company and Honda Motor Company. As the demand for the automotive vehicle is growing in the region, the automotive manufacturers are trying to edge over their competitors by making joint ventures, partnerships and launching new products with advanced technology. For instance, in 2021, the Volkswagen brand plans to double the share of full-electric vehicles more than will have in its European sales by 2030, in a bid to accelerate the automaker’s shift toward battery-powered cars.

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Market Summary

By Category – Report covers by category in the European automotive vehicle market breakup by 8 viewpoints

1.    (Electric Vehicle (EV),
2.    Hybrid Electric Vehicle (HEV),
3.    Plug-in Hybrid Electric Vehicle (PHEV),
4.    Mild Hybrid Electric Vehicle (MHEV),
5.    Natural Gas Vehicle (NGV),
6.    Fuel Cell Electric Vehicle (FCEV),
7.    Diesel Vehicle and Petrol Vehicle)


All the key players have been covered from 3 (Overview, Recent Development, Revenue Analysis Viewpoints Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company)

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building, and Construction, & Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more. Our research helps to make business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis, and forecasting that is essential in today’s ultra-competitive markets.

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Europe Automobile Market Size is expected to grow with a CAGR of 3.38% from 2020 to 2030

The European automotive industry has been booming and has become a global leader and driver of Europe’s growth and prosperity. In recent years, the European automobile sector has ascended to the top of the worldwide industry. Moreover, the European automotive industry has achieved record sales and is a significant employer and a source of considerable grant making in European society. According to Renub Research, European Automotive Vehicle Market is expected to reach 21.59 Million Units by 2030.

Europe Automotive Vehicle Market Forecast 2021-2030

Notwithstanding, the automotive industry has brought Europe freedom and access from mobility while making it increasingly time-efficient, safer, and more affordable. The automotive sector also contributes to environmental welfare. At the same time, the industry is thriving in keeping the disturbing impact on the environment of the steep hike in numbers of cars on the road in check, mainly through effective emission reductions. Also, the automotive sector seems to be a strong industry with attractive job opportunities and a growth engine of Europe’s economy. Hence, the industry is economically robust but with a clear gap to highly profitable sectors.

Mild Hybrid Vehicle is expected to provide Significant Growth over the Next Decade in European Automobile Industry

Furthermore, the European automotive industry is uniquely situated to become a centre for developing, testing, and eventually adopting new mobility technologies. By Category, the European automobile industry’s principal categories include Electric Vehicle (EV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Mild Hybrid Vehicle (MHEV), Natural Gas Vehicle (NGV), Fuel Cell Electric Vehicle (FCEV), Diesel Vehicle and Petrol Vehicle. The MHEV market is dominant, increasing, and expected to provide significant growth over the next decade. In Europe, PHEVs are expected to almost completely replace pure internal combustion engine (ICE) vehicles in the future. Moreover, MHEVs will play a significant role in a balanced powertrain portfolio for the next decade.

Europe Automobile Market Size is expected to grow with a CAGR of 3.38% from 2020 to 2030

Remarkably, the regions and players in the conventional automotive set are also obtaining momentum, and a growing wave of technological megatrends is redefining versatility. Even the core competencies for future prosperity are changing rapidly. In the coming years, European automotive players will require to develop these competencies and manage an employment transition to sustain their position at the vanguard of the industry.

In addition, the Europe automobile sector is expected to stay ahead in the changing competitive landscape, and therefore leaders will need to make some complex decisions. Above all, a shared vision concerning the European automotive sector’s positioning is necessary as well. The automotive passenger vehicles as a cornerstone for individual mobility and the commercial, automotive vehicle as the backbone of the European economy contribute tremendously to society, environment, economic welfare, and growth in Europe.

Coronavirus devastating effect on European Automotive Vehicle Industry

European car markets are gracing to deceive as sales promotions look good but only when contrasted with 2020, smashed by the shock of coronavirus shutdowns and short-term economic disaster. Our analysis expects a solid recovery as the year progresses and coronavirus vaccinations become ubiquitous. At the same time, apprehensions about the impact of the coming wave of Covid infections and a chip shortage remain in the background until the world is ultimately set free from the virus.

Europe Automotive Market was 15.49 Million Units in 2020

As per our analysis, over the following years and decades, the automotive industry will undergo a disruptive transformation towards a mobility industry. Many forces within and from outside the industry will try to transform the sector. The automotive ecosystem will open up, new players will enter, and industry boundaries will become fluid or disappear. In other words, we are going to see a global industry reshuffle.

The Europe Automotive Vehicles Market is consolidated with several international players. The major players are Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company. These players make joint ventures, partnerships and launch new products with advanced technology to dominate their competitors. For instance, in 2020, Toyota launched KINTO, a single brand for mobility services in Europe. Similarly, in 2021, Ford announced a new strategy to go all-electric in Europe by 2030.

Renub Research latest report titled “Europe Automotive Vehicle Market, By Category (EV Volume, HEV Volume, PHEV Volume, MHEV Volume, NGV Volume, FCEV Volume, Diesel Volume and Petrol Volume), Company (Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company)” provides a detailed analysis of Europe Automotive Vehicle Market

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By Category – Europe Automotive Volume have been covered from 8 viewpoints:

1.    Electric Vehicle (EV)

2.    Hybrid Electric Vehicle (HEV)

3.    Plug-in Hybrid Electric Vehicle (PHEV)

4.    Mild Hybrid Electric Vehicle (MHEV)

5.    Natural Gas Vehicle (NGV)

6.    Fuel Cell Electric Vehicle (FCEV)

7.    Diesel Vehicle

8.    Petrol Vehicle

Company Insights:

•    Overview

•    Recent Development & Strategies

•    Financial Insights

Company Analysis:

1.    Volkswagen

2.    Toyota Motor Corporation 

3.    Daimler AG 

4.    Ford Motor Company

5.    Honda Motor Company

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, 

Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building, and Construction, & Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more. Our research helps to make business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis, and forecasting that is essential in today’s ultra- competitive markets.

Contact Us:

Renub Research

Phone No: +1 678-302-0700 (USA) | +91–120–421–9822 (IND)

Email: info@renub.com

Web: https://www.renub.com

Follow on Linkedin: https://www.linkedin.com/company/renub-research