Medium Cars - EU-27

EU-27

Highlights

Revenue in the Medium Cars market is projected to reach US$42bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.66%, resulting in a projected market volume of US$41bn by 2029.
Medium Cars market unit sales are expected to reach 1.7m vehicles in 2029.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to US$24k.
From an international perspective it is shown that the most revenue will be generated China (US$89bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Medium Cars market in EU-27 is experiencing significant growth and development.

Customer preferences: Customers in the EU-27 region are increasingly opting for medium-sized cars due to their versatility and practicality. Medium cars offer a balance between fuel efficiency and interior space, making them suitable for both urban and long-distance driving. Additionally, customers appreciate the wide range of features and technologies available in medium cars, such as advanced safety systems, connectivity options, and fuel-efficient engines.

Trends in the market: One major trend in the Medium Cars market in EU-27 is the increasing demand for electric and hybrid vehicles. As governments and consumers become more conscious of environmental issues, there is a growing preference for vehicles with lower carbon emissions. Manufacturers are responding to this trend by introducing a wider range of electric and hybrid models in the medium car segment. This shift towards electric and hybrid vehicles is expected to continue in the coming years, driven by stricter emission regulations and advancements in battery technology. Another trend in the market is the rising popularity of crossover vehicles. Crossovers combine the practicality of a medium-sized car with the ruggedness and elevated driving position of an SUV. This appeals to customers who desire a versatile vehicle that can handle different terrains and weather conditions. Manufacturers are expanding their offerings in the crossover segment to cater to this demand, further driving the growth of the Medium Cars market in EU-27.

Local special circumstances: The Medium Cars market in EU-27 is influenced by the unique preferences and regulations of each country within the region. For example, in countries with higher fuel prices, customers are more likely to prioritize fuel efficiency when choosing a medium-sized car. On the other hand, countries with a strong automotive manufacturing industry may see a higher demand for locally produced medium cars, as customers prefer to support domestic brands.

Underlying macroeconomic factors: The growth of the Medium Cars market in EU-27 is also influenced by macroeconomic factors such as GDP growth, employment rates, and consumer confidence. When the economy is performing well, consumers have more disposable income and are more likely to purchase medium-sized cars. Conversely, during economic downturns, consumers may delay or postpone buying a new car, leading to a slowdown in the market. Additionally, government policies and incentives, such as tax breaks for low-emission vehicles, can also impact the demand for medium cars in the EU-27 region. In conclusion, the Medium Cars market in EU-27 is experiencing growth and development driven by customer preferences for versatile and practical vehicles, the increasing demand for electric and hybrid cars, and the rising popularity of crossover vehicles. Local special circumstances and underlying macroeconomic factors also play a role in shaping the market dynamics. As the market continues to evolve, manufacturers and policymakers will need to adapt to these trends and circumstances to stay competitive and meet the changing needs of customers.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

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, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

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. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).