The automotive industry is involved in the practice of designing, manufacturing, and selling motor vehicles. The services necessary to maintain and dispense cars after the car’s early sale are section of the automotive aftermarket, a 258 billion dollar market. These services comprise the components of car and repairs crucial for the automobile environment to function. Next to China, the United States accounted among the biggest automobile markets globally, both in terms of production and revenue. The automotive parts market in Europe was estimated at around 158 billion Euros in 2014. Germany is the leading country in Europe automotive market in terms of production and revenue. Significant role is played by Electronics and software in vehicle innovation. About 90 percent of automotive innovations in 2014 featured electronics and software, more particularly in active safety and infotainment features.
The automotive industry has been going through a constant process of adjustment due to the changes in its working environment. The existing automotive manufacturing processes can be primarily perceived from the assembly operations which direct to the construction of the complete vehicle structure; and the power-train operations which are liable for fabricating the power-train and drive-line components. Growing popularity for hybrid and electric cars are going to affect the industry in huge ways as it will generate a new market for businesses to gratify to these new forms of vehicles. Modern actions have altered the backdrop of the automotive market, however for wannabe business owners they have also created big amounts of opportunities to benefit from the latest transformation of the automotive industry.
As all car manufacturers are focusing on manufacturing more eco friendly and fuel efficient vehicles the “go-green” scenario has tapped the automotive industry. As this market matures, there will be a growth in services market from businesses that knows how to cater to these particular types of vehicles. For the business people, who have an enthusiasm in the Automotive Market Research Reports industry, ample of opportunities are provided in automotive franchise. On other hand, Auto repair will continue to play a big role in the automotive industry.
The rising demand for more fuel-efficient vehicles to decrease energy consumption and air pollution is a challenge for the automotive industry. Automakers will be insisted to develop a universal platform upon which vehicles are designed, engineered and produced, to leverage the most capital-intensive equipment and resources primarily, and then customize and renovate later for regional choices.