Summary

Light Duty Vehicle Trends and Forecast
The future of the global light duty vehicle market looks promising with opportunities in the passenger car, van, sport utility vehicle (SUV), and pickup truck markets. The global light duty vehicle market is expected to reach an estimated $826.3 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are rapid urbanization and population growth, strict guidelines designed to lower vehicle emissions, growing middle class population, and improved infrastructure.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Light Duty Vehicle by Segment
The study includes a forecast for the global light duty vehicle by drivetrain, transmission, fuel type, vehicle type, and region.

Light Duty Vehicle Market by Drivetrain [Shipment Analysis by Value from 2018 to 2030]:
• Front-Wheel Drive (FWD)
• Rear Wheel Drive (RWD)
• Four Wheel Drive (4WD)
• All-Wheel Drive (AWD)

Light Duty Vehicle Market by Transmission [Shipment Analysis by Value from 2018 to 2030]:
• Manual
• Automatic

Light Duty Vehicle Market by Fuel Type [Shipment Analysis by Value from 2018 to 2030]:
• Diesel
• Gasoline
• Hybrid
• Electric

Light Duty Vehicle Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Car
• Van
• Sports Utility Vehicle (SUV)
• Pickup Truck

Light Duty Vehicle Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Light Duty Vehicle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies light duty vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the light duty vehicle companies profiled in this report include-
• Nissan
• ISUZU MOTORS
• BMW
• Daimler
• Fiat Chrysler Automobiles
• Ford Motor Company
• General Motors
• Honda Motor
• Hyundai Motor Company
• Tata Motors


Light Duty Vehicle Market Insights
Lucintel forecasts that RWD (rear wheel drive) is expected to witness the highest growth over the forecast period because the rear wheel drive improves traction and balances the vehicle, and these benefits are likely to fuel the market expansion for light-duty vehicles.

North America is expected to witness highest growth over the forecast period due to growing demand for electric vehicles as a result of government encouragement for the adoption of eco-friendly vehicles and the construction of infrastructure for electric vehicle charging.

Features of the Global Light Duty Vehicle Market

Market Size Estimates: Light duty vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Light duty vehicle market size by drivetrain, transmission, fuel type, vehicle type, and region in terms of value ($B).
Regional Analysis: Light duty vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different drivetrain, transmission, fuel type, vehicle type, and regions for the light duty vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the light duty vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the light duty vehicle market size?
Answer: The global light duty vehicle market is expected to reach an estimated $826.3 billion by 2030.

Q2. What is the growth forecast for light duty vehicle market?
Answer: The global light duty vehicle market is expected to grow with a CAGR of 6.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the light duty vehicle market?
Answer: The major drivers for this market are rapid urbanization and population growth, strict guidelines designed to lower vehicle emissions, growing middle class population, and improved infrastructure.

Q4. What are the major segments for light duty vehicle market?
Answer: The future of the global light duty vehicle market looks promising with opportunities in the passenger car, van, sport utility vehicle (SUV), and pickup truck markets.

Q5. Who are the key light duty vehicle market companies?
Answer: Some of the key light duty vehicle companies are as follows:
• Nissan
• ISUZU MOTORS
• BMW
• Daimler
• Fiat Chrysler Automobiles
• Ford Motor Company
• General Motors
• Honda Motor
• Hyundai Motor Company
• Tata Motors

Q6. Which light duty vehicle market segment will be the largest in future?
Answer: Lucintel forecasts that RWD (rear wheel drive) is expected to witness the highest growth over the forecast period because the rear wheel drive improves traction and balances the vehicle, and these benefits are likely to fuel the market expansion for light-duty vehicles.

Q7. In light duty vehicle market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to growing demand for electric vehicles as a result of government encouragement for the adoption of eco-friendly vehicles and the construction of infrastructure for electric vehicle charging.

Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the light duty vehicle market by drivetrain (front-wheel drive (FWD), rear wheel drive (RWD), four wheel drive (4WD), and all-wheel drive (AWD)), transmission (manual and automatic), fuel type (diesel, gasoline, hybrid, and electric), vehicle type (passenger car, van, sports utility vehicle (SUV), and pickup truck), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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