Additive manufacturing is continuously evolving and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification and functional parts used in test vehicles and engines. 3D printing helps in rapid prototyping, increases assembly line efficiency, lowers turnaround time, improves flexibility in design and reduces wastage of materials.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL MOTOR VEHICLES MANUFACTURING MARKET TO GROW TO $4+ TRILLION BY 2021
Asia Pacific was the largest region in the motor vehicles manufacturing market, accounting for one-third of the market share, mainly due emerging markets such as China and India, which have a large middle class and upper middle class population owing to strong economic growth over the last few years.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, many motor vehicle manufacturing companies are integrating pre-collision assist and pedestrian detection technology in their vehicles to offer advanced safety features to customers. These technologies help in detection of blind spots and also alerts the driver when they are losing focus while driving, this system can also apply auto brake if driver falls asleep and does not respond to the warning, and thus these technologies significantly improve driver and pedestrian safety. Car manufactures, are increasingly focusing on commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel levels information, vehicle speed and other information.
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Toyota Motor was the largest competitor in the motor vehicles manufacturing market in 2017, with revenues of $230.8 billion in 2016. Toyota’s growth strategy aims to expand its operations globally and operate local production facilities in different parts of the world to reduce transaction risk. As per of the company’s globalization strategy, Toyota has invested in new production plants that will start production in Guangzhou, China in 2017 and in Tianjin, China in 2018. The company is also constructing a manufacturing plant in Mexico that will start production in 2019.
The motor vehicles market is segmented into Commercial Vehicle; Passenger Car; Motorcycle and Bicycle.
Commercial Vehicles Manufacturers manufacture complete light trucks and utility vehicles such as light duty vans, minivans, pick-up trucks and sports utility vehicles, and complete heavy duty trucks, buses, coaches, heavy duty motor homes and other special purpose heavy duty motor vehicles for highway use.
Passenger Car Manufacturing companies manufacture complete automobiles (with body and chassis) or manufacture automobile chassis only.
Motorcycle, Bicycles and Parts Manufacturing establishments manufacture motorcycles, scooters, tricycles and similar equipment and parts.
Motor Vehicles Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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