The global microcar market, valued at $4.53 billion in 2022, is projected to grow at a CAGR of 11.02% from 2023 to 2030, driven by the demand for smaller, cost-effective vehicles amid urban congestion. Electric microcars lead the market share, while Asia Pacific is anticipated to be the fastest-growing region, fueled by a preference for affordable cars in countries like India and Japan. Major players include PSA Group, Smart, Toyota, and Renault, focusing on innovative technologies and sustainable transportation solutions.
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