The global Light Duty Vehicles Market size is projected to be USD 922.21 billion by 2025, as per a new report released by Million Insights. It is estimated that the market would witness 8.5% CAGR over the forecast duration. The growing use of passenger cars for shared mobility is anticipated to positively drive the growth of the market. In the recent past, OEMs are increasingly investing in the development of autonomous electric vehicles. Growing investment in such vehicles is likely to strengthen the market growth.
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Market Synopsis of Light Duty Vehicles Market:
Governments across the globe are emphasizing on the development of electric vehicles by offering supportive infrastructure and incentives. For example, the Indian government is planning for sales of around 6-7 million units of electric vehicles by 2026. In addition, the use of electric vehicles for commercial transportation is gaining traction in the past years.
Online ridesharing companies such as Uber Technology and Ola Cabs are increasingly deploying shared mobility services. In addition, the growing use of light-duty vehicles in courier services and micro transit are further bolstering the light duty vehicle market growth.
Emerging countries are witnessing significant growth in the e-commerce industry. Growth in e-commerce industry has resulted in a demand for efficient logistic services, which in turn, has accelerated the adoption of light duty vehicles. In addition, emerging countries are also witnessing a rapid rise in manufacturing activities, which require a continuous supply of raw materials. Therefore, light duty vehicle, owing to their fuel-efficiency, are gaining traction in industrial transportation as well.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Light Duty Vehicles: Market Variables, Trends & Scope
Chapter 4 Light Duty Vehicles: Product Estimates & Trend Analysis
Chapter 5 Light Duty Vehicles: Application Estimates & Trend Analysis
Chapter 6 Light Duty Vehicles: End-use Estimates & Trend Analysis
Chapter 7 Light Duty Vehicles: Industrial End-use Estimates & Trend Analysis
Chapter 8 Light Duty Vehicles: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Light Duty Vehicles: Manufacturers Company Profiles
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