Light Duty Vehicle Market for North America
The objective of the study is to analyze and forecast (2013 to 2021) the North American light duty vehicle market by volume (‘000 units) and by country. The report segments the market By Key OEM & Model, Engine Capacity, Fuel, Turbocharger, Transmission, After treatment Devices, Steering & Safety System, RVD, ADAS, and Country & Vehicle Type (Passenger Car, Light Trucks & AFV). A detailed study of various market leaders has been done and opportunity analysis has been provided in the report.
North American light duty vehicle production is driven by the U.S., which accounts for 67.5% of the total North America light duty vehicle production in terms of volume. Stringent emission regulations leading to light weighting/engine downsizing has also fueled the growth of light duty vehicles in the region. The light duty vehicle market for North America is projected to grow at a CAGR of 5.65% during the forecast period, to reach 24540.0 thousand units by 2021, from an estimated 18647.1 thousand units in 2016. The base year for the report is 2015 and the forecast year is 2021.
To know about the assumptions considered for the study, download the pdf brochure
The North American light duty vehicles ecosystem consists of various major manufacturers such as General Motors (U.S.), Ford Motor Company (U.S.), Honda Motor (Japan), Hyundai Motors (South Korea), and Fiat Chrysler Automobiles (U.K.), and Toyota Motor Corporation (Japan).
Target Audience
- Automotive OEMs
- Automotive engine manufacturers
- Automotive turbocharger manufacturers
- Automotive transmission manufacturers
The increasing demand for light duty vehicles in North America, stringent emission regulations leading to light weighting/engine downsizing, and infrastructure growth has led to an increase in passenger car production in North America.
The North American passenger car production market is dominated by the two major domestic players: The Ford Motor Company and Chevrolet, a division of General Motors (GM). The Japanese player such as Toyota and Honda also hold a considerable market share. The Ford F-series, Chevrolet Silverado, GM Sierra and the Honda CR-V are the best-selling models of their respective companies
The turbocharged vehicle segment is estimated be the fastest growing during the forecast period. With the increased focus on fuel efficiency and emission norms, a majority of the car OEMs are focusing on small sized vehicles along with downsizing larger engines with the help of turbocharger technology in order to provide better fuel efficiency.
The North American passenger car market is favorable for gasoline vehicles, but it has started moving towards diesel and hybrid vehicles. The U.S. government is taking steps to promote electric vehicles (EVs), and plans to introduce 48 electric charging corridors which will cover 25,000 miles of highways.
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