DUBLIN, Dec 14, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Light Duty Vehicle Market for North America - Forecast to 2021" report to their offering.
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.
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.
The CVT transmission segment is the fastest growing transmission type used in passenger cars. This escalated growth can be attributed to the elevated demand for fuel efficient vehicles and as an alternative to automatic transmissions which increase costs.
Advancement in technology has led to improved fuel economy of vehicles which has prompted customers to purchase light duty vehicles. Electric pick-up trucks are also becoming a key trend in this region. The light truck segment is estimated to dominate the Mexican light duty vehicle production market in terms of growth rate.
The U.S. has the largest market share in the North American light duty vehicle segment however, Mexico is also gaining traction due to lower manufacturing cost owing to low manpower cost and favorable government policies
The light duty vehicle market for North America is dominated by many international as well as domestic players, and some of them are General Motors (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Fiat Chrysler Automobiles (U.K.).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Light Duty Vehicle Outlook for North America, By Key Oem & Models (2013-2015)
6 Light Duty Vehicle Outlook for North America, By Engine Capacity (2013-2015)
7 Light Duty Vehicle Outlook for North America, By Turbocharged Engines (2013-2021)
8 Light Duty Vehicle Outlook for North America, By Fuel Type (2013-2021)
9 Light Duty Vehicle Outlook for North America, By Trnsmission Type (2013-2021)
10 Light Duty Vehicle Outlook for North America, By Country & Vehicle Type (2013-2021)
11 Light Duty Vehicle Outlook for North America, Other Key Thechnologies
12 Competitve Landscape
13 Company Profiles
- Diamler AG
- Fiat Chrysler Automobiles
- Ford Motor Company Company
- Fuji Heavy Industries
- General Motors
- Honda Motor
- Hyundai Motors
- Nissan Motor Corporation
- Toyota Motor Corporation
For more information about this report visit http://www.researchandmarkets.com/research/c6ztg6/light_duty
Laura Wood, Senior Manager
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SOURCE Research and Markets