The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies
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| Notchback Market |
Market Overview:
A notchback is a body style of cars characterized by a
gently sloped rear window and greenhouse. Notchbacks provide practical interior
space with good cargo capacity. They offer balanced interior volume for
passengers and cargo along with sleek and stylish exterior design. The body
style has advantages like no C-pillar which enhances visibility compared to
sedans.
Market key trends:
The growth of the notchback market is attributed to rising demand from
emerging economies like China, India and Brazil. These nations have growing
middle-class population and increasing disposable income which is driving
vehicle ownership. Moreover, notchback body style is quite popular in these
developing markets due to its spacious cabin combined with stylish looks at
affordable prices. Leading automakers are launching various notchback models to
cater to the surging demand from developing countries, which is fueling the
growth of the notchback market size during the forecast period.
Porter’s Analysis
Threat of new entrants: The Notchback market is moderately difficult to
enter due to the high requirements for technology, supply chain management and
manufacturing. However, new entrants can partner with existing automakers to
enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the
availability of similar cars from different automakers. However, brand loyalty
keeps buyers from shifting easily.
Bargaining power of suppliers: Major suppliers including automotive component
makers have low-to-moderate bargaining power as automakers can choose from
various supplier options globally.
Threat of new substitutes: Potential threat from sedan and hatchback segments,
but notchback maintains customer base due to practicality.
Competitive rivalry: Intense among existing automakers.
SWOT Analysis
Strengths: Stylish design, spacious interior, affordable price point.
Weaknesses: Less fuel efficient than sedan counterparts, perceived as
old-fashioned.
Opportunities: Untapped growth in developing markets, increasing demand for
family cars.
Threats: Stiff competition, stricter emission regulations may impact sales.
Key Takeaways
The
Notchback Market Share is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period,
due to increasing demand for affordable family cars in developing nations.
Regional analysis: The Asia Pacific region dominates the global notchback
market share due to high production and sales volume in China, Japan and India.
Europe and North America are major markets with Germany, UK and US leading
production and demand.
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.
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