Automotive industry statistics show that the largest market is Asia Pacific. The US has lost ground since 2016 with vehicle production declining by 27.7%. Carbon fiber is a labor-intensive material. Sales of private vehicles are set to decrease, as shared mobility services expand. But how much will this change? The following facts will provide some perspective. Let’s look at some of the key trends. And what are the implications for the industry? We’ll look at trends in the US, Europe, and Asia.
Asia Pacific is the largest automotive market
With its massive population and thriving economies, Asia Pacific is a top destination for automotive manufacturers. The region is home to some of the world’s most valuable vehicle manufacturers, including Toyota, Honda, and Hyundai. Sales of passenger vehicles in the region generate enormous revenue for the automotive industry. Many automakers are investing heavily in research and development and market-specific media insights. Communicators must work closely with their marketing and communications counterparts to create integrated campaigns that promote their brand and products.
The report uses a variety of primary and secondary sources, including financial reports, national government documents, and a statistical database. Major companies included in the report include Aptiv PLC, Continental AG, Denso Corporation, Hitachi, Ltd., Pektron, Robert Bosch GmbH, and ZF Friedrichshafen AG. There are several other companies listed in the report, including Veoneer Inc. and Transtron Inc.
US vehicle production has fallen by 27.7% since 2016
After the auto industry, manufacturing accounts for less than 12% of the U.S. economy, but the industry remains highly competitive. In the last decade, the United States has become a leader in vehicle manufacturing, and the number of vehicles produced in the US has increased by more than 6%. The three largest automobile companies in the US are Ford Motor Company, Fiat Chrysler Automobiles, and General Motors Company. Foreign automakers are the biggest competitors in the United States, and in 2020, the U.S. market will be dominated by foreign automakers. Currently, the average vehicle in the United States is 7.3 years old, and by 2020, it is expected to reach eight million.
Ford Motor is struggling to stay in business, and is now facing a chip shortage. Ford Motor’s FY2011 sales fell by 6 percent, compared to the year before. However, retail sales remain strong, covering individuals rather than volume fleets. Rental sales are very low-profit, and GM has boasted about cutting rental agency sales for the last year. However, these companies have to make cuts to stay in business.
Carbon fiber is a labor-intensive material
The automotive industry has been obsessed with carbon fiber for decades, but it remains a costly and labor-intensive material. Traditional methods of producing carbon fiber parts require bonding sheets of the material together using resin and molding them into the desired shape. The process is time-consuming and requires extra manpower and extra time for the resin to cure. Carbon fiber’s advantages are questioned, however, when compared to the cost of the material.
High-strength materials are quickly being adopted in the automotive industry, including carbon fiber. These materials not only improve performance, but also lower vehicle weight. In order to make them, automakers must develop innovative manufacturing techniques. The process of creating carbon fibre components requires special adhesive 4831. This material requires a high- tech production facility to create. This is why the automotive industry is increasingly turning to other alternative materials, such as composites.
Shared mobility will reduce sales of private-use vehicles
The rise of on-demand and shared mobility services will inevitably lower the price of individual vehicles, increasing the overall efficiency of vehicle use. With rising fuel prices and increased financial burdens, individual mobility will no longer be an option for low-end users. Those consumers will demand efficient and affordable modes of transport. Public authorities should encourage their use, while focusing on increasing the availability of shared mobility options.
Moreover, they will help reduce traffic congestion in dense urban areas.
The market for shared mobility is segmented by vehicle type, service, and business model. In terms of vehicle type, the market for shared mobility is divided into two types: cars and two- wheelers. Cars are the dominant segment with the highest revenue, owing to the increasing interest in ride-hailing and car sharing. Moreover, ride-hailing is one of the most popular and dominant business models, driven by the growth of significant players. The main business models include P2P, B2C, and B2B.