European Automotive Industry Market Trends, Size, Forecast - 2019-2025
The European automotive industry includes Original Equipment Manufacturer (OEM), auto-ancillary companies, vendors, and aftermarket vehicle and their parts dealers. The European automotive market was witnessing a modest growth rate from 2013. As per the International Organization of Motor Vehicle Manufacturers (OICA), around 20.80 million vehicles were sold in 2019 as compared to 20.69 million in 2018. As per the European Automobile Manufacturers Association, there are 309 vehicle assembly plant and production plants in 27 countries in the European Union (EU). Around 13.8 million people work in the auto industry in the region which accounts for 6.1% of overall EU jobs in 2019. In the EU-15, around $467 billion tax was collected through the auto sector.
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Significant growth in the market was expected before the COVID-19 pandemic as an exponential growth was witnessed in the electric vehicle market in the region from a couple of years. The price of an electric vehicle is much higher as compared to a conventional fuel vehicle, which was augmenting the region market.
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European Automotive Industry Market Segmentation
Sales Channel
OEM
Auto-Ancillary
Aftermarket
Vehicle Type
Passenger Vehicle
Commercial Vehicle
Propulsion Technology
Conventional Energy Vehicles (Gasoline)
New Energy Vehicles (Electric)
Regional Analysis
UK
Germany
Italy
Spain
France
Rest of Europe
Company Profile
AB Volvo
Aptiv PLC
BMW AG
Bridgestone Corp.
BYD Co. Ltd.
Continental AG
Daimler AG
Ford Motor Co.
GKN PLC
Groupe PSA
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