Sales of Light Duty Vehicles Are Expected to Total More Than 2.1 Billion from 2015 to 2035, According to Navigant Research
By Business Wire News
By Business Wire News
A recent report from Navigant Research analyzes the market for light duty vehicles (LDVs) in eight segments, including global forecasts for sales and the number of vehicles in use, segmented by region, drivetrain, and primary fuel, through 2035.
The enormous dependency on crude oil derivatives in the LDV market has pushed governments worldwide to implement policies and programs that encourage the adoption of various fuel efficiency and alternative fuel technologies. 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. Click to tweet: According to a recent report from Navigant Research, total sales of LDVs are expected to total more than 2.1 billion from 2015 to 2035.
“The global market for LDVs is changing rapidly, with younger generations looking toward options like carsharing as alternatives to buying a car,” says Scott Shepard, research analyst with Navigant Research. “The vast majority of growth in the LDV 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.
The report, Transportation Forecast: Light Duty Vehicles, analyzes the global LDV 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. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Transportation Forecast: Light Duty Vehicles, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.