Notchback Market Is Estimated to Witness High Growth Owing to Rising Demand for Practical Sedans

Notchback Market Is Estimated to Witness High Growth Owing to Rising Demand for Practical Sedans

Market Overview:
A notchback is a type of car body style that is characterized by a nearly vertical back window and trunklid. Notchback cars are usually practical sedans that offer comfortable seating for 4-5 people along with a spacious trunk. They are popular family cars and daily commuters due to their blend of passenger space and cargo capacity. Examples include Volkswagen Jetta, Honda Civic, Toyota Corolla etc.

Market Dynamics:
The Notchback Market Share is expected to grow owing to rising demand for practical sedans from families and daily commuters. Notchback cars offer a balance of passenger space and cargo capacity, making them ideal for families. They also have good fuel efficiency which is attractive for daily commutes. Furthermore, notchback styling is preferred over sloping fastback style by many consumers as it allows for taller cargo space.

The other driver boosting the notchback market is preference of car buyers for practical features over aggressive styling. Notchback design language is simple and functional which appeals to buyers looking for utilitarian vehicles rather than flashy looks. This, coupled with competitive pricing of notable notchback models is fueling the demand.

SWOT Analysis

Strength: The notchback cars have a sleek design with smooth roofline connecting the front and rear sections. They provide ample legroom for rear passengers. The notchback styling allows easy ingress and egress for rear passengers.

Weakness: Notchback cars have limited trunk space compared to sedan cars. They have compromises in terms of aerodynamic and fuel efficiency. Manufacturing notchback cars require complex stamping process of the body panels.

Opportunity: Young buyers are showing preference for stylish and sporty looking notchback coupes. Expanding e-mobility market provides an opportunity to launch electric notchback cars.

Threats: Other body styles like sedan and SUV are gaining more popularity. Strict emission and fuel economy norms pose compliance challenges for niche body styles like notchback.

Key Takeaways

The global notchback market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing preference for stylish coupe body styles among young buyers. The global notchback market size for 2023 is US$ 78.49 Bn and is projected to reach US$ 117.38 Bn by 2030.

Regional analysis

Europe dominated the global notchback market in 2022, accounting for around 35% share. Germany, UK and France are the major markets in the region. High demand for stylish coupes from premium automakers like BMW, Mercedes-Benz, Audi is driving the notchback market in Europe. Asia Pacific is expected to be the fastest growing market, exhibiting a CAGR of around 6.5% during 2023 - 2030. Rising affluence and evolving tastes of young consumers in China and India are expected to fuel demand for notchback cars.

Key players

Key players operating in the notchback market are Volkswagen Group, BMW Group, Mercedes-Benz (Daimler AG), Audi (Volkswagen Group), Ford Motor Company, General Motors, Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Group, Kia Motors Corporation, Nissan Motor Co. Ltd., Mazda Motor Corporation, Subaru Corporation, Volvo Cars, Peugeot SA. Volkswagen Group and BMW Group are the market leaders with popular notchback models like Golf, 3 Series, A4, C-Class etc.

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