27 April 2022
Microcars are taking the world by storm due to their extensive benefits and evolving consumer lifestyles. With overpopulation and overcrowding on the roads, people are looking for time-effective commutation that gets them to their destinations quicker. Microcars are compact and fuel-effective due to their engine size of less than 700cc, killing the worry of increasing fuel prices simultaneously. In addition, drivers can manoeuvre them across roads without falling victim to congestion and traffic jams.
Technological advancements have further helped expand the scope for microcars. Today, there are several electric microcars that create even more benefits for the consumers, helping drivers cut down their fuel and time consumption and keeping the environment away from greenhouse gases side by side. The increasing popularity of electric vehicles, in general, is also a massive push for the demand for microcars worldwide. That’s a signal for microcar manufacturers to invest and increase their supplies to accommodate the increasing population and preference for microcars.
In the race of microcar manufacturing, the market consists of small and significant players, both. Seven of the leading global microcar manufacturers are:
The manufacturing company is more widely known as Mercedes-Benz. It’s a German multinational specializing in automotive corporations, established in 1886. With headquarters in Stuttgart, Baden-Wurttemberg, Germany, the company employs almost three hundred thousand staff.
Nissan Motor Co. Ltd
Established in 1933, Nissan Motor Co. Ltd is a reputable name in global households and the automotive industry. The company’s headquarters is situated at Yokohama-shi, Kanagawa, Japan, and the company specializes in manufacturing, selling, and offering financial services to its clients. Today, it has almost one hundred and thirty-eight thousand employees, with an annual turnover of more than one hundred and eighteen billion USD.
Legally Renault S.A. and commonly referred to as the Renault Group; the company is a multinational business specializing in automobile manufacturing. Developed in 1899, its headquarters are located in Boulogne-Billancourt, France. Today, it serves one hundred and twenty-eight countries and employs over one hundred and seventy thousand people.
Also known as PSA Group, or Peugeot S.A, the France-based multinational is a leading automotive producer. Headquartered in Rueil-Malmaison, France, the company was established in 1976 and is now merged with the FCA to develop a new name: Stellantis. As of 2019, the manufacturing firm had over two hundred thousand employees and produced motorcycles and automobiles under Peugeot, DS, Opel, Citroen, and Vauxhall.
Suzuki Motor Corporation
Headquartered in Hamamatsu, Shizuoka, Japan, Suzuki Motors was founded in 1909. The multinational automobile producer deals with manufacturing automobiles, motorcycles, engines, ATVs, and outboard motors. Today, it has over sixty-eight thousand employees.
Mahindra Electric Mobility Limited
Previously known as Reva Electric Car Company, Mahindra Electric Mobility Limited was established in 1994. Its headquarters are situated in Singasandra, Karnataka, India, and the company deals with developing and manufacturing electric vehicles, including microcars.
Toyota Motor Corporation
It’s a Japan-based multinational dealing with automotive production. Founded in 1937, the firm’s headquarters are located in Toyota, Aichi, Japan. Toyota Motor Corporation has almost three hundred and eighty thousand employees with an annual turnover of over two hundred and eighty billion USD.
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The report's coverage is constrained to the microarray markets that provide for the bulk of global revenue. These have been left out since other BCC Research papers already cover genomics, proteomics, and the NGS market.
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