Global Light Duty Vehicle Market, By Type (Passenger Car, Van, SUV, Pickup Truck), Fuel Type (Diesel, Gasoline, Hybrid, Electric), Transmission {FWD (Four Wheel Drive), RWD (Rear Wheel Drive), 4WD (4 Wheel Drive) and AWD (All-Wheel Drive)}, Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Light Duty Vehicle Market
Global light duty vehicle market is expected to witness market growth at a rate of 9.32% in the forecast period of 2021 to 2028. Data Bridge Market Research report on global light duty vehicle market provides analysis and insights regarding the leading current market analysis scenario, upcoming as well as future opportunities and competitors.
Light duty vehicle means the vehicle such as truck, van or car with the payload capacity of less than 8,500 lbs. Light weight vehicle undergo a global vehicle test for testing the performance, fuel consumption of the vehicle and emission of pollutants from the vehicle.
Light weight vehicles are very fuel efficient, this factor is estimated to drive the growth of the light duty vehicle market. Also, due growing businesses of many industries such as e-commerce and logistics the demand for light pick-up trucks is growing. Incorporating new technologies in vehicle to make it advance with new features will also boost the growth of the market.
Lack of availability of original and durable spare parts is the major concerns of the users, which can hamper the growth of the light duty vehicle market. Higher maintenance costs are also a major restrain for this market to grow.
Light duty vehicles equipped with tracking systems, safety features and advanced navigation systems are continuously adopting by automotive OEMs are creating the light duty vehicle market very attractive for users.
This light duty vehicle market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research global light duty vehicle market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Light Duty Vehicle Market Scope and Market Size
Light duty vehicle market is segmented on the type, fuel type, transmission. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The light duty vehicle market on the basis of type has been segmented into passenger car, van, SUV and pickup truck. Passenger car segment holds the significant market share of the market, and expected to have a steady growth over the period due to rising adoption of passenger car by incumbents in tourism industry.
- Based on fuel type, global light duty vehicle market has been segmented into diesel, gasoline, hybrid and electric. Gasoline segment is likely to dominate the light duty vehicle market, as the vehicle with gasoline fuel type emits less carbon emission as compared to the diesel vehicle. However, electric vehicle segment is estimated to register the higher CAGR throughout the forecast period.
- Based on transmission, global light duty vehicle market has been segmented into FWD (four wheel drive), RWD (rear wheel drive), 4WD (4 wheel drive) and AWD (all-wheel drive). RWD (rear wheel drive) is the mostly used in the light duty vehicles, especially in passenger vehicles. As rear wheel drive helps in enhancing the traction and balancing the car, these features are likely to drive the growth of the light duty vehicle market.
Global Light Duty Vehicle Market Country Level Analysis
Light duty vehicle market is analysed and market size, volume information is provided by country, type, fuel type, transmission as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America has dominated the market owing to the increased demand for electric vehicle as government is also supporting the eco-friendly vehicles to be adopted and supporting development related to the infrastructure for charging of electric vehicle. Also, the U.S is expected to be the largest manufacturer of light duty vehicles over the forecast period. However, Asia-Pacific is anticipated to grow with the fastest growth rate due to the rise in production of vehicles and evolving e-commerce market, especially in developing countries such as India, Japan and China.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Light Duty Vehicle Market Share Analysis
Light duty vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to light duty vehicle market.
The major players covered in the light duty vehicle market report are Nissan, ISUZU MOTORS LIMITED, BMW AG, Daimler AG, Fiat Chrysler Automobiles, Ford Motor Company, General Motors, Honda Motor Co., Ltd., Hyundai Motor Company, Tata Motors Limited, SUBARU CORPORATION, TOYOTA MOTOR CORPORATION, ASTON MARTIN, Volkswagen AG, Ferrari S.p.A., AB Volvo, MITSUBISHI MOTORS CORPORATION, Mazda Motor Corporation, SUBARU CORPORATION among some global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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