According to Stratistics MRC, the Global Microcars Market is accounted for $2.30 billion in 2019 and is expected to reach $7.97 billion by 2027 growing at a CAGR of 16.8% during the forecast period. Expansion of the construction industry and rising development through rapid industrialization are the major factors propelling the market growth. However, the impact of COVID-19 on automotive sector is restraining the market growth.
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By geography, Asia Pacific is estimated to have a lucrative growth due to high population, rising disposable income, cost sensitiveness owing to constrained spending habits. The customers in this region prefer to buy smaller cars as they are affordable and economical to maintain for middleclass people.
Some of the key players profiled in the Microcars Market include BMW AG., Daihatsu Motor Co. Ltd., Hyundai, Daimler AG, Group PSA, Groupe Renault SA, Honda Motor Company, LIGIER Group., Mahindra & Mahindra, Mazda Motor Corporation, Piaggio & C. Spa, Subaru, Suzuki Motor Corporation, Tata Motors, and Toyota Motor Corporation.
Wheels Covered:
• 3-wheel Microcar
• 4-wheel Microcar
Fuel Types Covered:
• Electric
• Hybrid
• Petrol/Diesel
• Alternate Fuel
Sales Channels Covered:
• Distribution Channel
• Direct Channel
Drives Covered:
• 2WD/1WD
• All-Wheel Drive (AWD)
Applications Covered:
• Commercial Cars
• Personal Cars
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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