By December 11, 2015 Read More →

Light duty vehicles sales will exceed 2.1 billion 2015 to 2035 – report

“The global market for light duty vehicles is changing rapidly, with younger generations looking toward options like carsharing as alternatives to buying a car” – Navigant

light duty vehicles

Light duty vehicles

BOULDER, Colo. – The global vehicle market is changing rapidly, according to a recent report from Navigant Research, influenced by new technology, the rise of the Asian market, and evolving consumer preferences.

The enormous dependency on crude oil derivatives in the light duty vehicles market has pushed governments worldwide to implement policies and programs that encourage the adoption of various fuel efficiency and alternative fuel technologies, says Navigant.

Other changes in the market include more varied transportation options, including vehicles with various levels of drivetrain electrification and vehicles that run on alternative fuels entirely.

“The global market for light duty vehicles is changing rapidly, with younger generations looking toward options like carsharing as alternatives to buying a car,” said Scott Shepard, research analyst with Navigant Research in a press release.

“The vast majority of growth in the light duty vehicles market over the forecast period is expected to come from developing countries in Asia Pacific, specifically China and India.”

High purchase price premiums and low infrastructure availability are expected to limit the adoption of alternative fuel vehicles (AFVs) globally, according to the report. However, utilities are expected to play a larger role in AFV adoption over the forecast period, as these vehicles present opportunities to increase electricity demand and to help manage grid operations.

light duty vehicles

Indianapolis electric car sharing

The report, Transportation Forecast: Light Duty Vehicles, analyzes the global light duty vehicles market in eight segments: stop-start vehicles (SSVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), natural gas vehicles (NGVs), fuel cell vehicles (FCVs), propane autogas vehicles (PAGVs) and conventional internal combustion engine (ICE) vehicles.

Since SSV, HEV, PHEV, and ICE vehicle segmentations are either solely or partially fueled by blends of gasoline or diesel, forecasts of these segments are broken out by fuel (as well as by region).

Global market forecasts for sales and the number of vehicles in use, segmented by country, drivetrain, and primary fuel, extend through 2035.

Posted in: News

Comments are closed.