Light Duty Vehicles Market Share – Has A Forecast Period From 2014 To 2018

Light duty vehicles refer to a fleet or passenger cars and trucks having a GVWR (gross vehicles weight rating) of 8, 500 pounds. There are five prime components in the light duty vehicles market. They include most of the weight of light duty vehicles. These are body structures, suspension and chassis, engine and transmission, closures and bumpers and fenders.

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Light duty vehicles are primarily designed for the transportation of property and persons. They enable the execution of off highway and off street operations. The favorable traits of light duty vehicles are expected to expand the light duty vehicles market over the coming years.

Energy consumption of light duty vehicles can be influenced by the utilization and fuel economy of vehicles and passenger behavior. The structures of light duty vehicles make up for about 25-30 percent of the vehicles’ weight. Also, these structures reduce the weight of these vehicles and make them efficient. The primary function of such structures is to be in charge of passenger containers and protect passengers during accidents.

The most common compounds used in passenger compartments are strength materials and modulus sheets. Light weight technology plays an important role in the light duty vehicles market. It helps in repairing and manufacturing these vehicles. Additionally, light weight materials can impact the energy efficiency and improve the fuel efficiency of vehicles.

Electric powered light duty vehicles are expected to increase in the years to come. This factor is likely to propel the light duty vehicles market further. North America is the largest consumer of this market. It is followed by the light duty vehicles market of Europe. This is owing to advancements in technologies.

Light Duty Vehicles Market Share

Information Source: Grand View Research