LONDON, Nov. 19, 2014 /PRNewswire/ -- The North American automotive industry is one of the fastest growing industries across the globe. The region is home to some of the biggest names in the automotive industry such as Ford Motors Co., General Motor Co., and others has been at the forefront of technological advancements and innovations. In the recent past the industry was struck adversely by the economic meltdown of 2009 but the industry has recovered and is now back on its track to reach record heights over the period of next five years.
The North American vehicle production is dominated by LCVs which have gained importance in the market owing to their load carrying and off-roading capabilities which make them viable for small scale business owners. This vehicle segment already the market leader in terms of volume is expected to further extend its dominance with an industry topping CAGR of 8.19%. The market has shown incline towards gasoline and is expected to remain dominated by gasoline powered vehicles only but diesel and other fuels are expected to make inroads into gasoline's dominance over the course of next five years.
U.S. is the biggest market for automotive industry in the North American region and has been traditionally the technological leader across the globe. The large customer base in the country and high disposable income levels have fuelled the demand for vehicles which in turn has resulted in increasing manufacturing activities by automotive OEMs in the country. Mexico is closely following the U.S. vehicle production in terms of growth and is touted as the New Detroit of the North American region. The country's vicinity to major export markets and availability of cheap labor and land in the area are attracting attention from OEMs across the globe.
The report also discusses the qualitative aspects of the market such as the market dynamics, Porter's five forces analysis, Pestle Analysis, and others which provide an overview of the forces shaping up the industry in the region. The influx of electric and alternately-fuelled vehicles in the region has been one of the major topics of discussion among the automotive OEMs and has stirred the market for further participation.
The report covers the vehicle production in the North American industry over the period of 2011 to 2018 in terms of volume, segmented by country (U.S.; Canada; and Mexico), by vehicle type (Passenger cars; light commercial vehicles; and heavy commercial vehicles), and by fuel type (gasoline; diesel; and others)
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