PUNE, India, November 29, 2016 /PRNewswire/ --
The report "Light Duty Vehicle Market for North America by Key OEM & Model, Engine Capacity, Fuel, Turbocharger, Transmission, Aftertreatment Devices, Steering & Safety System, RVD, ADAS and Country, & Vehicle Type (Passenger Car, Light Trucks & AFV) - Forecast to 2021", published by MarketsandMarkets, the market for North America is projected to grow at a CAGR of 5.65% from 2016 to 2021, to reach a market size of to reach 24540.0 thousand units.
Browse 57 market data Tables and 39 Figures spread through 222 Pages and in-depth TOC on "Light Duty Vehicle Market for North America"
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The major factors behind the growth of the North American Light Duty Vehicle Market are the increasing demand for light duty vehicles coupled with the stringent emission norms leading to light weighting/downsizing of auto components.
Light duty vehicles with 3.5 liter engines are estimated to be the largest market in North America
Engine capacity helps in determining engine output such as power, torque, and mileage. The 3.5-liter engine segment, which is used in SUVs, sports cars and high end luxury cars, holds the largest market share mainly due to preference for powerful vehicles in the region. The 1.5 to 1.8-liter engine segment gives moderate mileage in petrol vehicles and is generally used in mid-size cars and small wagons.
Automatic transmission is projected to hold the largest market share in the North American Light Duty Vehicle Market
The North American market is inclined towards automatic transmission owing to customer's preference for automatic transmission systems and stringent emission norms. As a manual transmission's fuel efficiency depends on driver proficiency, the automatic transmission's performance results in a better fuel efficiency and lower emissions. Stringent fuel efficiency norms, namely the Corporate Average Fuel Economy (CAFE) standards, have increased the demand for fuel efficient transmission systems like CVT.
Increasing trend of gasoline turbocharged engine in North America
The North American Light Duty Vehicle Market is shifting toward the gasoline turbocharged engines. Gasoline turbocharged vehicles are more fuel efficient and powerful than non-turbocharged ones.
U.S. to be the largest market
By 2021, the U.S., being the largest manufacturer in this region, is projected to maintain its leading position in the light duty vehicle segment due to growing demand from nearby countries such as Mexico and Canada as well as in other regions. Infrastructure growth along with the increasing demand for light duty vehicles is also set to drive the domestic market for light duty vehicles.
The major players such as General Motors (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Fiat Chrysler Automobiles (U.K.) are global vehicle manufacturers who have been covered in this study.
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