May 27, 2014—According to a new report from Navigant Research, a clean technology market research and consulting firm, less than half of the light duty vehicles (LDVs) worldwide will be conventional internal combustion vehicles by 2035, a stark change from today.
Currently, the majority of LDVs are conventional internal combustion engine vehicles, but hybrid, electric, and alternative fuel vehicles will make up a much greater share of the market in the coming years thanks primarily to fuel cost concerns, according to the report.
“Automakers, governments, and motorists are all becoming increasingly concerned with fuel economy,” says Scott Shepard, research analyst with Navigant Research. “As a result, the auto industry is transforming rapidly. Engine downsizing and drivetrain electrification through stop-start and hybrid technologies will become the LDV standards by 2020.”
Among the fastest-growing alternative drivetrain technologies is stop-start, which eliminates idling by switching off the engine while the car is not moving. By 2020, LDV’s with stop-start capability will reach 48.6 million, making up nearly half of the overall LDV market, according to Navigant Research’s findings.
An Executive Summary of the report is available for free download on the Navigant Research website.
