Motor Vehicles & Trailers - Ireland

Value added in the Motor Vehicles & Trailers market is projected to amount to US$39.6m in 2024.
A compound annual growth rate of 1.51% is expected (CAGR 2024–2029).
The value added per capita in the Motor Vehicles & Trailers market is projected to amount to US$7.8 in 2024.
The value added margin in the Motor Vehicles & Trailers market is projected to amount to 85% in 2024.
Output in the Motor Vehicles & Trailers market is projected to amount to US$46.5m in 2024.
A compound annual growth rate of 1.32% is expected (CAGR 2024–2029).
The output per enterprise in the Motor Vehicles & Trailers market is projected to amount to US$316.2k in 2024.
The manufacturing intensity in the Motor Vehicles & Trailers market is projected to amount to 0.0% in 2024.
The number of enterprises in the Motor Vehicles & Trailers market is projected to amount to 147.00 in 2024.
A compound annual growth rate of 2.09% is expected (CAGR 2024–2029).
The enterprise density in the Motor Vehicles & Trailers market is projected to amount to 29 in 2024.
The number of employees in the Motor Vehicles & Trailers market is projected to amount to 599.00 in 2024.
A compound annual growth rate of 1.52% is expected (CAGR 2024–2029).
The employment rate in the Motor Vehicles & Trailers market is projected to amount to 0.01% in 2024.
The labor efficiency in the Motor Vehicles & Trailers market is projected to amount to US$77.6k in 2024.
The labor productivity in the Motor Vehicles & Trailers market is projected to amount to US$66.1k in 2024.

Definition:

This market pertains to the production of motor vehicles for transporting passengers or freight, manufacturing of various parts and accessories, as well as the manufacture of trailers and semi-trailers.

Additional information:

The market comprises value added, output, number of enterprises, number of employees, and the respective growth rates. Output refers to the total value of all goods produced, whereas value added is the sum of the intermediate stages of production or, in other words, the wealth created by industry activity. The market only displays B2B production.

Manufacture of motor vehicles
Manufacture of bodies (coachwork) for motor vehicles
Manufacture of trailers and semi-trailers
Manufacture of parts and accessories for motor vehicles
Other categories listed within ISIC Division 29 as "included"

Manufacture of agricultural tractors and trailers
Manufacture of tractors used in construction or mining
Manufacture of tanks and other military fighting vehicles
Manufacture of tyres and batteries
Maintenance, repair and alteration of motor vehicles
Other categories listed within ISIC Division 29 as "excluded"

The manufacturing market has faced several challenges in recent years due to geopolitical uncertainty, supply chain disruptions, changing consumer preferences, and increasing regulatory scrutiny. However, several positive factors, such as rising global demand, ongoing technological advancements, and increasing investment in automation and digitalization, continue to influence the market, and the outlook for manufacturing remains positive.

While the Covid-19 pandemic has caused significant hardships for manufacturers, those that invested in digitalization and automation of their processes will be best positioned for long-term success. Manufacturers who can effectively balance cost pressures and maintain a strong focus on quality are likely to survive the current crisis and come out more resilient in the end.

Among the factors that could affect the manufacturing market in 2023 is the adoption of advanced technology, such as artificial intelligence, robotics, and the Internet of Things (IoT), which have the potential to improve overall efficiency and productivity while reducing costs.

Furthermore, our analysts believe that sustainability and environmental awareness will become increasingly important trends, as more investors and consumers prefer companies that prioritize these values and develop eco-friendly products.

Finally, geopolitical factors such as trade tensions and changes in government policies could also impact the manufacturing market in 2023, with the Russia-Ukraine war having the biggest impact.

In summary, the current environment presents both challenges and opportunities for the manufacturing market in 2023. However, with the right managerial strategies and high flexibility, companies can succeed and strengthen their long-term market position.

Data coverage:

The data encompasses B2B. Figures are based on the value added in the manufacturing market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting the manufacturing market due to the non-linear growth of this market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Industrial market, in a PDF format.

Motor vehicle production increased by three percent in 2021 year-on-year, amounting to around 80 million motor vehicles manufactured that year globally. The increase in output signals that the automotive industry has begun to recover after the tumultuous years of 2019 and 2020. In 2020, global motor vehicle output shrank by nearly 16 percent. The dramatic decrease in units produced and sold globally that year is closely related to the COVID-19 pandemic, which saw several manufacturing plants halting production, thousands of people out of their jobs, and reduced demand during its early stages. Although motor vehicle sales and production volumes improved in 2021, they are yet to return to pre-pandemic levels. As of 2022, the global chip shortage affecting several industries also leaves its mark on the automotive sector, where semiconductors have become more and more present.