Automotive products: forecast output from global manufacturing

In 2023, the global automotive product manufacturing industry had an output of around 5.18 trillion U.S. dollars, which remained stable year-over-year when compared to 2022. Most of this output was generated by the manufacturing of motor vehicles and trailers. By 2029, the overall output for the sector is forecast to grow closer to the 5.5 trillion U.S. dollars benchmark.

Output from the global automotive product manufacturing between 2018 and 2023, with a forecast through 2029 (in trillion U.S. dollars)

Characteristic	Motor Vehicles & Trailers	Other Transportation Equipment
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Release date

April 2024

More information

Region

Worldwide

Survey time period

2018 to 2029

Special properties

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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