(Transportation-News.com, May 21, 2025 ) Automotive Market in Europe to Hit USD 29.55 Bn by 2030
Automotive Market size in Europe was valued at USD 16.26 Billion in 2023 and the total Automotive Market in Europe revenue is expected to grow at a CAGR of 8.9 % from 2024 to 2030, reaching nearly USD 29.55 Billion.
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About the Market
The European automotive market is a thriving industry noted for innovation, numerous car choices, and powerful manufacturers such as Volkswagen and BMW. In the face of severe pollution rules, the market is fast turning towards electric and hybrid automobiles. Mobility-as-a-service and sustainability initiatives, such as Volvo’s carbon-neutral pledge, are reshaping the industry. A combination of established automakers and technology firms is pushing improvements in autonomous, connected, and sustainable transportation.
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Automotive Market in Europe Segment Analysis
In 2024, Passenger cars Segment Held the Dominant Position with A Share of Above 48% While Petrol Vehicles Segment Dominated the Automotive Market in Europe in 2024 and accounted for 33% Of the Global Revenue Share.
By Vehicle Type
Commercial Vehicles
Electric Cars
Passenger Cars
Three Wheelers
Two-Wheelers
Utility Vehicles
By Fuel Type
Petrol
Diesel
Electric
CNG/LPG
In 2024, Germany held the largest revenue share in the Automotive Market in Europe, contributing approximately 23.8%, followed by Spain as the second-largest region with around 18.1% of the market share. These countries lead because of their robust industrial bases, world-class automakers, and excellent R&D. Germany excels in engineering, innovation, and domestic demand, while Spain benefits from strategic export locations, cost-effective labor, and government assistance, positioning both countries as significant players in Europe’s automotive production and growth.
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Market key players Fueling industry evolution
These companies are leading the Automotive Market in Europe, demonstrating strong financial performance and strategic investments in product development and market expansion:
Volkswagen Group – $318.32 billion
Toyota Motor Corporation – $286.15 billion
Mercedes-Benz Group AG – $161.91 billion
BMW Group – $158.03 billion
Honda Motor Co., Ltd. – $129.18 billion
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