Automotive Industry Share to Grow at 2.78% CAGR till 2024
The Automotive Industry Share has witnessed a significant uptick in production and sales in recent years mainly owing to an increased demand in emerging markets. At the same time, disruptive technologies are opening new avenue for the industry, which the focus steady shifting towards segments such as autonomous vehicles, electric vehicles and hybrid vehicles. Market Research Future (MRFR) projects that the global Automotive Industry Share will expand at a compound annual growth rate (CAGR) of 2.78% during the projection period (2018-2024). In terms of volume, the industry is expected to reach 1,13,366 thousand units by 2024 up from 96,804 thousand units in 2017. Infrastructure developments such as construction of highways and roads in developing countries has augured well for the automotive sector. Moreover, increased efforts to improve road transportation in order to caters the need of daily passengers is reflecting favourably on the sector. The Autom...