Product Code: GVR-3-68038-610-3
Light Duty Vehicles Market Growth & Trends:
The global light duty vehicles market size is expected to reach USD 1,394.24 billion by 2030, registering a CAGR of 8.6% from 2025 to 2030, according to a new report by Grand View Research, Inc.The increasing demand for passenger cars for shared mobility services is expected to emerge as one of the major drivers of growth. The continued development of driverless electric cars is also expected to drive the market growth over the forecast period.
The continued development of Electric Vehicles (EVs) and semi-autonomous commercial cars/trucks bodes well for the growth of the market. Several governments are already pursuing initiatives to facilitate the development of EVs. For instance, the Government of India's National Electric Mobility Mission Plan (NEMMP) targets unit sales of 6-7 million hybrid vehicles and EVs by 2026. As such, the continued adoption of EVs for commercial transportation, owing to the numerous benefits EVs can offer over conventional vehicles, is expected to drive the market growth over the forecast period.
The growing trend of offering shared mobility is expected to drive the growth of the light duty vehicles marketover the forecast period. Online transportation network companies, such as Ola Cabs and Uber Technologies Inc., are increasingly deploying light duty passenger cars to offer shared mobility services that allow passengers to share a ride with people heading towards the same destination. The development of other mobility services, such as micro transit and courier network services, is also expected to drive the market growth over the forecast period.
The e-commerce industry has witnessed noticeable growth in developed as well as developing economies. The unabating growth of the e-commerce industry is prompting logistics & transportation companies to rollout efficient logistics services, thereby driving the market growth. The demand for light duty vehicles is growing, particularly in emerging economies, where the industrial sector is expanding gradually, and the need to transport raw materials and finished products efficiently is increasing subsequently.
Light Duty Vehicles Market Report Highlights:
- Asia Pacific is projected to emerge as the fastest-growing regional market over the forecast period owing to the increasing adoption of light duty vehicles by the incumbents of the e-commerce and tourism industries in the region
- The electric segment is expected to register the highest CAGR over the forecast period owing to the initiatives being pursued aggressively all over the world to encourage the development and adoption of EVs
- The all-wheel drive segment is expected to emerge as the fastest-growing segment over the forecast period owing to the growing use of all-wheel drivetrains in sports utility vehicles (SUVs) and trucks
- The automatic segment is expected to register the highest CAGR over the forecast period owing to the convenience automatic transmission vehicles can offer in heavy traffic conditions
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Light Duty Vehicles Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Industry Analysis Tools
- 3.3.1. PORTER's Analysis
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and social landscape
- 3.3.2.3. Technological landscape
Chapter 4. Light Duty Vehicles Market: Vehicle Estimates & Trend Analysis
- 4.1. Light Duty Vehicles Market, By Vehicle: Key Takeaways
- 4.2. Vehicle Movement Analysis & Market Share, 2024 & 2030
- 4.3. Market Estimates & Forecasts, By Vehicle, 2018 - 2030 (USD Billion)
- 4.3.1. Passenger Cars
- 4.3.1.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.3.2. Vans
- 4.3.2.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.3.3. Sports Utility Vehicle (SUV)
- 4.3.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.3.4. Pickup Truck
- 4.3.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Light Duty Vehicles Market: Fuel Type Estimates & Trend Analysis
- 5.1. Light Duty Vehicles Market, By Fuel Type: Key Takeaways
- 5.2. Fuel Type Movement Analysis & Market Share, 2024 & 2030
- 5.3. Market Estimates & Forecasts, By Fuel Type, 2018 - 2030 (USD Billion)
- 5.3.1. Diesel
- 5.3.1.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.3.2. Gasoline
- 5.3.2.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.3.3. Hybrid
- 5.3.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.3.4. Electric
- 5.3.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Light Duty Vehicles Market: Transmission Estimates & Trend Analysis
- 6.1. Light Duty Vehicles Market, By Transmission: Key Takeaways
- 6.2. Transmission Movement Analysis & Market Share, 2024 & 2030
- 6.3. Market Estimates & Forecasts, By Transmission, 2018 - 2030 (USD Billion)
- 6.3.1. Manual
- 6.3.1.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. Automatic
- 6.3.2.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Light Duty Vehicles Market: Drivetrain Estimates & Trend Analysis
- 7.1. Light Duty Vehicles Market, By Drivetrain: Key Takeaways
- 7.2. Drivetrain Movement Analysis & Market Share, 2024 & 2030
- 7.3. Market Estimates & Forecasts, By Drivetrain, 2018 - 2030 (USD Billion)
- 7.3.1. Front Wheel Drive (FWD)
- 7.3.1.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. Rear Wheel Drive (RWD)
- 7.3.2.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Four Wheel Drive (4WD)
- 7.3.3.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. All Wheel Drive (AWD)
- 7.3.4.1. Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Light Duty Vehicles Market: Regional Estimates & Trend Analysis
- 8.1. Light Duty Vehicles Market: Regional Outlook
- 8.2. Regional Marketplaces: Key Takeaways
- 8.3. Market Estimates & Forecasts, by Region, 2018 - 2030 (USD Billion)
- 8.4. North America
- 8.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.2. U.S.
- 8.4.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.3. Canada
- 8.4.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.4. Mexico
- 8.4.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5. Europe
- 8.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.2. UK
- 8.5.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.3. Germany
- 8.5.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.4. France
- 8.5.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6. Asia Pacific
- 8.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.2. China
- 8.6.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.3. Japan
- 8.6.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.4. India
- 8.6.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.5. South Korea
- 8.6.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.6. Australia
- 8.6.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.7. Latin America
- 8.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.7.2. Brazil
- 8.7.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.8. Middle East and Africa
- 8.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.8.2. KSA
- 8.8.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.8.3. UAE
- 8.8.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.8.4. South Africa
- 8.8.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 9. Competitive Landscape
- 9.1. Company Categorization
- 9.2. Company Market Positioning
- 9.3. Company Heat Map Analysis
- 9.4. Company Profiles/Listing
- 9.4.1. BMW AG
- 9.4.1.1. Company Overview
- 9.4.1.2. Financial Performance
- 9.4.1.3. Product Portfolio
- 9.4.1.4. Recent Developments/ Strategic Initiatives
- 9.4.2. Daimler AG
- 9.4.2.1. Company Overview
- 9.4.2.2. Financial Performance
- 9.4.2.3. Product Portfolio
- 9.4.2.4. Recent Developments/ Strategic Initiatives
- 9.4.3. Stellantis N.V.
- 9.4.3.1. Company Overview
- 9.4.3.2. Financial Performance
- 9.4.3.3. Product Portfolio
- 9.4.3.4. Recent Developments/ Strategic Initiatives
- 9.4.4. Ford Motor Company
- 9.4.4.1. Company Overview
- 9.4.4.2. Financial Performance
- 9.4.4.3. Product Portfolio
- 9.4.4.4. Recent Developments/ Strategic Initiatives
- 9.4.5. General Motors Company
- 9.4.5.1. Company Overview
- 9.4.5.2. Financial Performance
- 9.4.5.3. Product Portfolio
- 9.4.5.4. Recent Developments/ Strategic Initiatives
- 9.4.6. Honda Motor Company
- 9.4.6.1. Company Overview
- 9.4.6.2. Financial Performance
- 9.4.6.3. Product Portfolio
- 9.4.6.4. Recent Developments/ Strategic Initiatives
- 9.4.7. Hyundai Motor Company
- 9.4.7.1. Company Overview
- 9.4.7.2. Financial Performance
- 9.4.7.3. Product Portfolio
- 9.4.7.4. Recent Developments/ Strategic Initiatives
- 9.4.8. Nissan Motor Company, Ltd.
- 9.4.8.1. Company Overview
- 9.4.8.2. Financial Performance
- 9.4.8.3. Product Portfolio
- 9.4.8.4. Recent Developments/ Strategic Initiatives
- 9.4.9. Subaru Corporation
- 9.4.9.1. Company Overview
- 9.4.9.2. Financial Performance
- 9.4.9.3. Product Portfolio
- 9.4.9.4. Recent Developments/ Strategic Initiatives
- 9.4.10. Toyota Motor Corporation
- 9.4.10.1. Company Overview
- 9.4.10.2. Financial Performance
- 9.4.10.3. Product Portfolio
- 9.4.10.4. Recent Developments/ Strategic Initiatives