Australia Automotive Market Size, Share, Trends and Forecast 2024-2032

  2. by mohitsingh
  3. August 21, 2024

Automotive Market- Australia

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 6.50% (2024-2032)

Another significant driver in the Australia automotive market is the rise of connected and autonomous vehicle technologies. According to the latest report by IMARC Group, the market size is projected to exhibit a growth rate (CAGR) of 6.50% during 2024-2032.

Download a sample copy of the Report: https://www.imarcgroup.com/australia-automotive-market/requestsample

Australia Automotive Industry Trends and Drivers:

Growth Factors of the Australia Automotive Market

  • Technological Advancements and Shifting Consumer Choices:
    • Growth is driven by technological advancements and changing consumer preferences.
    • Increasing utilization of electric vehicles (EVs) as a viable alternative to gasoline-powered cars.
    • Rising environmental awareness and government incentives promoting sustainable transportation.
    • Expansion of EV charging infrastructure and advancements in battery technology.
    • Longer driving ranges and reduced charging times encourage the shift to EVs.
    • A wider range of EV models was introduced by automotive manufacturers, making them more accessible and appealing.
  • Connected and Autonomous Vehicle Technologies:
    • Growing interest in connected and autonomous vehicle technologies.
    • Increased demand for cars with advanced driver-assistance systems (ADAS) and in-car connectivity features.
    • Enhanced safety, comfort, and convenience from features like adaptive cruise control, lane-keeping assistance, and real-time navigation updates are driving Australia Automotive Market Growth.
    • Government commitment to developing smart infrastructure and fostering transportation innovation.
  • Shared Mobility Services:
    • Rising trend towards shared mobility services such as ride-sharing and car-sharing platforms.
    • Urbanization and the increasing cost of vehicle ownership driving consumers to explore alternative mobility solutions.
    • Shared mobility is anticipated to drive the Australia automotive market over the forecasted period.

Australia Automotive Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

  • Passenger
  • Commercial Vehicles

Application Insights:

  • Personal Use
  • Municipal Use
  • Business Use

Regional Insights:

  • Australia Capital Territory & New South Wales
  • Victoria & Tasmania
  • Queensland
  • Northern Territory & Southern Australia
  • Western Australia

Request for customization: https://www.imarcgroup.com/request?type=report&id=22065&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

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