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Pulished Date January, 2021
ID: 10801
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Light Duty Vehicle Market Segmentation By Vehicle Type (Passenger Car, Van, Sports Utility Vehicle, Pickup Truck), By Fuel Type (Diesel, Gasoline, Hybrid, Electric), By Transmission (Manual, Automatic), By Drivetrain (FWD, RWD, 4WD, AWD) and Region - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: January, 2021
ID: 10801
Pages: 175

Product Description:

A vehicle that uses two or more different fuel sources to operate and move the vehicle is called a hybrid vehicle. This term often refers to hybrid electric vehicles, which fuse one or more electric motors into an internal combustion (IC) engine. Light commercial vehicles are used primarily for urban transportation or as a personal vehicle. Current hybrid light vehicle designs are an extension of electric vehicles. At the current stage of development, electric vehicles do not offer long range on a single charge. Also, vehicles that run on biofuel have limited power. Mild hybrids offer an advantage over these problems and provide more power and good range at the same time.

Market Overview:

The global light duty vehicle market is estimated to arrive at $ 560 billion by 2026, garnering a CAGR of over 9.1% from 2021 to 2026. Demand for light vehicles is expected to increase due to less air pollution caused by these vehicles. Additionally, stringent regulations to reduce vehicle emissions are expected to drive the adoption of electric light trucks and thus drive market growth during the forecast period. Light vehicles tend to emit lower volumes of atmospheric pollutants and, therefore, are the preferred vehicle for the transport of people and goods.

Recent Developments:

  • Fiat Chrysler and Waymo have signed an exclusive agreement to develop autonomous utility vehicles, an area that some believe may be the first widespread use of autonomous technology.
  • Daimler Trucks & Buses, one of the largest commercial vehicle manufacturers in the world, follows a sustainable corporate strategy and aims to offer only new vehicles that are CO2 neutral when driving ("tank to wheel") in the European Markets, Japan and NAFTA by 2039.
  • The BMW Group is accelerating its boom in electric mobility and setting new standards for industry transformation with its production.

Drivers and Restraints of Light Duty Vehicle Market:

Drivers:

Automotive suppliers are increasingly deploying light vehicles equipped with fleet security, navigation and tracking capabilities. Recent developments in sensor technologies, location-based services, and analytics are supporting the growth in the light autonomous vehicles. The proliferation of IoT has enabled the integration of telematics systems, such as fleet telematics to track light vehicles, into automobiles. This later enabled the development of driverless passenger cars and autonomous rental cars. Another important factor contributing to the growth of the light duty vehicle market is the growing trend to offer dynamic shuttles as part of on-demand passenger services.

Restraints:

One of the main factors hampering the growth of the light duty vehicle industry is the rising raw material costs.

Market Segmentation:

By Vehicle Type:

  • Passenger Car
  • Van
  • Sports Utility Vehicle (SUV)
  • Pickup Truck

The passenger car segment accounted for 28% of the market share in 2019, driven by the increasing adoption of passenger cars by established operators in the tourism industry. The growth in this segment is attributed to the increasing adoption of passenger cars by established operators in the tourism industry. In addition, the governments of several countries have enacted regulations that have led passenger car manufacturers to produce efficient and low-emission vehicles, putting considerable pressure on them to engage in research and investigation.

By Fuel Type:

  • Diesel
  • Gasoline
  • Hybrid
  • Electric

Of all the main types of fuels for light vehicles, the gasoline segment had the largest share, with 57% in 2019. In fact, gasoline vehicles emit less emissions than diesel vehicles and can also be purchased at an affordable price. However, the electric segment is estimated to record the highest CAGR of around 14.3% during the foreseen period due to growing demand for high-performance, zero-emission vehicles. Technological advancements, along with proactive government initiatives to reduce vehicle emissions, are fostering the development and adoption of electric vehicles and the deployment of charging infrastructure for electric vehicles, thus driving the growth of the electric segment.

By Transmission:

  • Manual
  • Automatic

The manual segment dominated the market in 2018. The manual transmission is more fuel efficient and typically uses 5% to 10% less fuel compared to the automatic transmission. Manual transmission vehicles also tend to be less expensive than their automatic transmission counterparts. Additionally, there has been a significant increase in demand for vehicles with a clutch-less manual transmission, eliminating the need for the clutch pedal that the driver must press before shifting gears.

By Drivetrain:

  • Front Wheel Drive (FWD)
  • Rear Wheel Drive (RWD)
  • Four Wheel Drive (4WD)
  • All-Wheel Drive (AWD)

Rear wheel drive is the most preferred type of transmission and is commonly found in passenger cars. Rear wheel drive helps improve traction and balance the vehicle. These advantages combined with the rear-wheel drive are promoting the expansion of the segment.

Light Duty Vehicle Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America led the market in 2019 with a 39% share due to the growing adoption of electric vehicles in line with government initiatives promoting the development and adoption of electric vehicles and the deployment of infrastructure charging electric vehicles. Europe accounted for a significant market share in 2018 due to the increasing adoption of light trucks for inland freight transport in Europe, where the majority of freight transport is carried out by road. According to Eurostat, more than 75% of national freight transport within the EU, or around 1.75 billion tonne-kilometers (tkm), is carried out by road. On the other hand, initiatives by car manufacturers in the region to establish new car-sharing platforms are stimulating demand for passenger cars. However, due to developments in the e-commerce industry, especially in China, India and Japan, Asia-Pacific is expected to become the fastest growing regional market with a CAGR of around 16.2% during the conjecture period. Strict regulations to reduce vehicle emissions are also supposed to drive demand for light duty vehicles in the Asia Pacific.

Key Players of Market:

Key players in the global light duty vehicle market are BMW AG, Daimler AG, Fiat Chrysler Automobiles N.V., Ford Motor Company, General Motors Company, Honda Motor Company, Ltd., Hyundai Motor Company, Nissan Motor Company, Ltd., Subaru Corporation, and Toyota Motor Corporation, among others.

IMPACT OF COVID-19 ON LIGHT DUTY VEHICLE MARKET:

The automotive industry forecasts a loss of 7.5 lakh of production units and $ 2 billion in revenue in March 2020 alone due to closings to combat the coronavirus transmission. Despite the difficult business environment, several automakers have not fired any permanent or temporary workers. Production is nearly stagnant as provincial governments have imposed lockdown and companies closed their factories to help break the chain of the coronavirus pandemic.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Light Duty Vehicle Market, By Vehicle Type          

                    6.1.1 Passenger Car

                    6.1.2 Van     

                    6.1.3 Sports Utility Vehicle

                    6.1.4 Pickup Truck 

                    6.1.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.6 Y-o-Y Growth Rate Analysis         

                    6.1.7 Market Attractiveness Index         

          6.2 Light Duty Vehicle Market, By Fuel Type               

                    6.2.1 Diesel  

                    6.2.2 Gasoline        

                    6.2.3 Hybrid 

                    6.2.4 Electric

                    6.2.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.6 Y-o-Y Growth Rate Analysis         

                    6.2.7 Market Attractiveness Index         

          6.3 Light Duty Vehicle Market, By Transmission                    

                    6.3.1 Manual

                    6.3.2 Automatic      

                    6.3.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.4 Y-o-Y Growth Rate Analysis         

                    6.3.5 Market Attractiveness Index         

          6.4 Light Duty Vehicle Market, By Drivetrain               

                    6.4.1 FWD    

                    6.4.2 RWD    

                    6.4.3 4WD    

                    6.4.4 AWD    

                    6.4.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.6 Y-o-Y Growth Rate Analysis         

                    6.4.7 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Vehicle Type        

                    7.2.3 By Fuel Type  

                    7.2.4 By Transmission       

                    7.2.5 By Drivetrain  

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Vehicle Type        

                    7.3.3 By Fuel Type  

                    7.3.4 By Transmission       

                    7.3.5 By Drivetrain  

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Vehicle Type        

                    7.4.3 By Fuel Type  

                    7.4.4 By Transmission       

                    7.4.5 By Drivetrain  

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Vehicle Type        

                    7.5.3 By Fuel Type  

                    7.5.4 By Transmission       

                    7.5.5 By Drivetrain  

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Vehicle Type        

                    7.6.3 By Fuel Type  

                    7.6.4 By Transmission       

                    7.6.5 By Drivetrain  

8. Key Player Analysis                           

          8.1 BMW AG           

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Daimler AG                 

          8.3 Fiat Chrysler Automobiles N.V                   

          8.4 Ford Motor Company            

          8.5 General Motors Company                

          8.6 Honda Motor Company, Ltd            

          8.7 Hyundai Motor Company                 

          8.8 Nissan Motor Company, Ltd            

          8.9 Subaru Corporation               

          8.10 Toyota Motor Corporation             

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Light Duty Vehicle  Market By Region, From 2021-2026 ( USD Billion )
  2. Global Light Duty Vehicle  Market By Vehicle Type, From 2021-2026 ( USD Billion )
  3. Global Passenger Car Market By Region, From 2021-2026 ( USD Billion )
  4. Global Van Market By Region, From 2021-2026 ( USD Billion )
  5. Global Sports Utility Vehicle Market By Region, From 2021-2026 ( USD Billion )
  6. Global Pickup Truck Market By Region, From 2021-2026 ( USD Billion )
  7. Global Light Duty Vehicle  Market By Fuel Type, From 2021-2026 ( USD Billion )
  8. Global Diesel Market By Region, From 2021-2026 ( USD Billion )
  9. Global Gasoline Market By Region, From 2021-2026 ( USD Billion )
  10. Global Hybrid Market By Region, From 2021-2026 ( USD Billion )
  11. Global Electric Market By Region, From 2021-2026 ( USD Billion )
  12. Global Light Duty Vehicle  Market By Transmission, From 2021-2026 ( USD Billion )
  13. Global Manual Market By Region, From 2021-2026 ( USD Billion )
  14. Global Automatic Market By Region, From 2021-2026 ( USD Billion )
  15. Global Light Duty Vehicle  Market By Drivetrain, From 2021-2026 ( USD Billion )
  16. Global FWD Market By Region, From 2021-2026 ( USD Billion )
  17. Global RWD Market By Region, From 2021-2026 ( USD Billion )
  18. Global 4WD Market By Region, From 2021-2026 ( USD Billion )
  19. Global AWD Market By Region, From 2021-2026 ( USD Billion )

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