Global Light Duty Vehicles Market Overview:
Light Duty Vehicles are constructed to carry goods or specialized equipment that are less than or equal to 3.5 tones of gross vehicle mass. These vehicles are primarily used to transport passengers and cargo. The declining energy consumption of light-duty vehicles is expected to boost market growth in the coming years. The improved transmissions, weight reductions, and smaller turbocharged engines have all contributed to this market demand. According to AMA, the Global Light Duty Vehicles market is expected to see growth rate of 8.04%
Growth Drivers
- Increasing Demand for Light Duty Vehicles in Developed as well as Developing Economies
- Infrastructure Growth Led to Increase In Passenger Car Production
Market Trends
- Growing Trend for Shared Mobility Services
Roadblocks
- Increasing Average Age of Light Duty Vehicles
Opportunities
- Ongoing Development of Driverless Electric Cars
- Growing Demand for Truck Rental Services
- Technological Advancements in Light Duty Vehicles
Challenges
- The light duty vehicles market is fragmented due to the presence of several manufacturers and the level of competition among the companies in the plastic pallet market is intense and manufacturers focus on developing new technologies and offering customized products to the customers. The companies are seeking ways to reduce cost, improve product quality and production efficiency. During the coming years, a number of companies will also follow Merger and Acquisition and many more strategies to sustain in this competitive market
Competitive Landscape:
In Light Duty Vehicles Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Some of the key players profiled in the report are BMW AG (Germany), Fiat Chrysler Automobiles N.V.(United Kingdom), Ford Motor Company (United States), General Motors Company (United States), Honda Motor Company, Ltd. (Japan), Hyundai Motor Company (South Korea), Nissan Motor Company, Ltd. (Japan), Subaru Corporation (Japan), Daimler AG (Germany), Toyota Motor Corporation (Japan), Fuji Heavy Industries (Japan) and Tata Motors (India). Additionally, following companies can also be profiled that are part of our coverage like Eicher Motors Limited (India), Volkswagen Group (Germany), Kia Motors Corporation (South Korea) and Renault (France). Analyst at AMA Research see United States and Asian Vendors to retain maximum share of Global Light Duty Vehicles market by 2026. Considering Market by Vehicle Type, the sub-segment i.e. Electric Vehicles will boost the Light Duty Vehicles market. Considering Market by Transmission, the sub-segment i.e. Manual Transmission will boost the Light Duty Vehicles market. Considering Market by Engine Capacity, the sub-segment i.e. 1 to 2.5 Liter will boost the Light Duty Vehicles market. Considering Market by Drivetrain, the sub-segment i.e. Front Wheel Drive (FWD) will boost the Light Duty Vehicles market.
Latest Market Insights:
In October 2019, Groupe PSA and Fiat Chrysler Automobiles (FCA) announced plans to merge into the world’s fourth-largest OEM for €40 billion (USD 44.51 billion). Groupe PSA controls brands including Citroën and Peugeot, while FCA manages Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Lancia, Maserati, and Ram Trucks, among others.
In June 2019, Eicher launched the Eicher Pro 2000 series in India. The new Eicher Pro 2000 Series Light-duty trucks having smart cabins and come in compliance with the BS-VI standard for India.
What Can be Explored with the Light Duty Vehicles Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Light Duty Vehicles Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Light Duty Vehicles
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Light Duty Vehicles market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Light Duty Vehicles market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Automotive OEMs, Automotive Engine Manufacturers, Analysts and Strategic Business Planners and Transportation Service Providers.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.