End of Lithium ?, page-25

Global new car market about 75m in 2023 , compact market around 10% . Sodium Batteries reported elsewhere expected to have 10% market share across EV and Storage by 2030. Lithium will still be the dominant player most likely with Solid State batteries by then and no more car fires or unlikely to cause fires like current liquid electrolyte lithium batteries.

https://www.expertmarketresearch.com/reports/compact-cars-market

Q. What was the global compact cars market size in 2023?

In 2023, the market observed a sale of approximately 7.13 million units.

Q. What is the growth rate of the global compact cars market?

The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.

Q. What are the major market drivers?

The major market drivers include the increasing demand for energy-efficient vehicles, rising disposable incomes, the surging urban population, growing traffic congestion, and growing technological advancements.

Q. What are the key trends of the market?

The key trends guiding the market include the rising demand for electric compact cars owing to the increasing environmental consciousness and the introduction of favourable government initiatives supporting the adoption of electric compact vehicles.

Q. What are the major regional markets of compact cars, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Q. What are the leading fuel types of compact cars in the market?

The leading fuel types of compact cars in the market are diesel, electric, and gasoline, among others.