Automobiles and transportation equipment form the backbone of modern life, supporting the flow of goods and people and driving industries of all types, including yours. Freedonia analysis covers the sales, production, and maintenance of motor vehicles, automobiles, and transportation equipment, providing forecasts and analysis of key factors such as electrification and suppy chain.
While global motor vehicle manufacturing has been constrained by a tight supply of semiconductors as well as other supply chain issues, some relief is expected in 2023, when global production is forecast to hit 93.3 million vehicles. By 2025, production will have surpassed the pre-pandemic peak of 98.8 million vehicles.
Although sales of new vehicles have been limited by production issues, manufacturers in the US have been able to reap substantial profits by concentrating on the production of higher-margin vehicles and pushing development of battery-powered models.