The Automobile Market For Future Growth

2691 Words Jun 3rd, 2015 11 Pages
This report traces the fascinating trajectory of the evolution of cars, and delves into emerging trends shaping the automobile market for future growth. The report highlights major market players, discusses their products, and forecasts the growth of the automobile market through 2020.
In this report, the terms “automobile” and “vehicle” are used synonymously. An automobile includes passenger cars, minivans, and commercial vehicles such as trucks.
Historically, automobiles have been powered by steam, gasoline, and electric current, but with the advent of the 20th century, gasoline has emerged as the dominant source of energy for these vehicles.
Several factors are now converging to push for the transition to electricity as the main source of energy for automobiles. The initial push is towards the adoption of electric-gasoline hybrids, but the use of electricity-only automobiles is picking up, and their widespread adoption in the future is all but certain.
A Historical Perspective
The horse was to be the primary mode of transportation until the dawn of the 20th century. The distance a horse-drawn carriage can travel at a time is in the range of 10 to 15 miles. This means that prior to the invention of the automobile, communities or individuals living more than 15 miles from cities, railroads, or navigable waterways were mostly cut off from social and economic activity.
The development of automobile technology coincided with the advent of the Industrial…
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