Global Light Vehicles Market By Type (Passenger Vehicle, Commercial Vehicle), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Light Vehicles Market
Global Light Vehicles Market is expected to grow with a steady CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to the growing levels of innovations and advancements in the technology utilized in the products.
Market Definition: Global Light Vehicles Market
Light vehicles are termed as the vehicles that are lighter in weight, resulting in improved fuel efficiency but without compensating on the capabilities and power of the vehicles. These vehicles constitute of lighter-weight metals and lower engine power which significantly affects the overall weight of the vehicle, but due to the usage of advanced alloys in the production, the stability and capacity to operate is not lost.
- Increased concerns regarding the environment and demand for fuel-efficient and durable vehicles is expected to be one of the major factors driving the market growth
- Growing advancements in the technology used resulting in innovative product launches that are highly fuel-efficient without compensating on the designated carry load
- Low return on investment on these commercial vehicles due to their high costs
Segmentation: Global Light Vehicles Market
- By Type
- Passenger Vehicle
- Commercial Vehicle
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In April 2018, Tata Motors announced the launch of “Nex-Gen ULTRA” vehicles range from Intermediate & Light Commercial Vehicles. This launch of vehicles range is expected to significantly improve the market share of Tata Motors in the light vehicles.
- In September 2017, ASHOK LEYLAND announced that they are planning to launch a new light commercial vehicle model in every six months till the year 2020. This decision of presenting new models is expected to expand the product portfolio of the company and is expected to be parallel with the growth strategy of the company.
Competitive Analysis: Global Light Vehicles Market
Global light vehicles market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of light vehicles market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Light Vehicles Market
Few of the major competitors currently working in the light vehicles market are Toyota Motor Corporation; Volkswagen AG; HYUNDAI MOTOR GROUP; Fiat Chrysler Automobiles; Honda Motor Co., Ltd.; Groupe Renault; Nissan; Groupe PSA; Zhejiang Geely Holding Group; ASHOK LEYLAND; suzuki motor corporation; Tata Motors and MITSUBISHI MOTORS CORPORATION.
Research Methodology: Global Light Vehicles Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved