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Light Duty Vehicle Market Forecast to Reach $560 Billion by 2025


Light Duty Vehicle Market Forecast to Reach $560 Billion by 2025
It Is Anticipated That Strict Regulations Aimed at Reducing Vehicle Emissions Would Stimulate the Adoption of Electric Light Duty Trucks and Thus Drive the Market Growth Over the Forecast Period
BriefingWire.com, 12/21/2020 -
The Light Duty Vehicle Market is forecast to reach $560 billion by 2025, growing at a CAGR of 9.1% from 2020 to 2025. Demand for light duty vehicle is expected to increase due to the lower amount of air pollution that is caused by them. Furthermore, it is anticipated that strict regulations aimed at reducing vehicle emissions would stimulate the adoption of electric light duty trucks and thus drive the market growth over the forecast period. Light duty vehicle tend to emit lower volumes of air pollutants and are hence turning out to be the preferred vehicle to transport people and goods. ....

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