In 2023, some 0.88 trillion U.S. dollars in value added were generated by the global automotive product manufacturing industry. Most of this value added was generated by the manufacturing of motor vehicles and trailers. By 2029, the overall value added of the sector is forecast to grow closer to the one trillion U.S. dollars benchmark.
Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029
(in trillion U.S. dollars)
data is based on a May 2024 modelling which is shown using current exchange rates and reflects the market impact of Russia's war on Ukraine.
Supplementary notes
The Automotive Products market includes the production of motor vehicles, trailers, and other forms of transportation equipment. This encompasses passenger cars, commercial vehicles, and other motorized vehicles, as well as ships, boats, trains, airplanes, and related components such as engines, gears, and brakes. Essentially, it is a comprehensive market that covers all forms of transportation and related equipment used for the movement of people and goods.
The market is divided into two parts: Motor Vehicles & Trailers that refers to motor vehicles for transporting passengers or freight and Other Transportation Equipment that refers to vehicles and transportation systems other than those used for personal or commercial transportation.
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.
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Statista. (April 30, 2024). Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved October 27, 2024, from https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/
Statista. "Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars)." Chart. April 30, 2024. Statista. Accessed October 27, 2024. https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/
Statista. (2024). Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: October 27, 2024. https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/
Statista. "Value Added of The Global Automotive Product Manufacturing between 2018 and 2023, with a Forecast through 2029 (in Trillion U.S. Dollars)." Statista, Statista Inc., 30 Apr 2024, https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/
Statista, Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/ (last visited October 27, 2024)
Value added of the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars) [Graph], Statista, April 30, 2024. [Online]. Available: https://www.statista.com/statistics/1482362/automotive-products-value-added-of-the-global-manufacturing/
