BOULDER, CO -- December 10, 2015: 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.
