DUBLIN--(BUSINESS WIRE)--The "Motor Vehicle and Parts Dealers Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global motor vehicle and parts dealers market as it emerges from the COVID-19 shut down.
The global motor vehicle and parts dealers market is expected to grow from $3920.36 billion in 2020 to $4355.18 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5676.57 billion in 2025 at a CAGR of 7%.
Companies Mentioned
- AutoNation
- CarMax
- Group 1
- Penske Automotive Group
- Sonic Automotive
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Motor vehicle dealers are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store which offers consumers a chance to buy an experience rather than just an object or service. This trend is driven largely by millennials and their preference for experiences over things. These stores often use technology such as augmented reality and combine traditional elements with mobile apps and activities. For instance, car brand Audi has integrated virtual reality (VR) experience in their showrooms to attract potential customers.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle and parts dealers market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in decline in manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
The motor vehicle and parts dealers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers and building loyalty, data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyse data it will become easier for motor vehicle and parts dealers to identify and meet the needs and expectations of their customers , thus it is expected to drive the market going forward.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Motor Vehicle And Parts Dealers Market Characteristics
4. Motor Vehicle And Parts Dealers Market Product Analysis
5. Motor Vehicle And Parts Dealers Market Supply Chain
6. Motor Vehicle And Parts Dealers Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Motor Vehicle And Parts Dealers Market Trends And Strategies
8. Impact Of COVID-19 On Motor Vehicle And Parts Dealers
9. Motor Vehicle And Parts Dealers Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Motor Vehicle And Parts Dealers Market Regional Analysis
10.1. Global Motor Vehicle And Parts Dealers Market, 2020, By Region, Value ($ Billion)
10.2. Global Motor Vehicle And Parts Dealers Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Motor Vehicle And Parts Dealers Market, Growth And Market Share Comparison, By Region
11. Motor Vehicle And Parts Dealers Market Segmentation
11.1. Global Motor Vehicle And Parts Dealers Market, Segmentation By Type
11.2. Global Motor Vehicle And Parts Dealers Market, Segmentation By Ownership
11.3. Global Motor Vehicle And Parts Dealers Market, Segmentation By Type of Store
12. Motor Vehicle And Parts Dealers Market Metrics
12.1. Motor Vehicle And Parts Dealers Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Motor Vehicle And Parts Dealers Market Expenditure, 2015-2025, Global
For more information about this report visit https://www.researchandmarkets.com/r/t6l8ww
