According to the latest report Light Commercial Vehicles Market is expected to witness 4.5% CAGR during the forecast period, 2019 to 2025.Commercial Vehicles Market by Type, by Fuel Type, and by Region and by Regions with Forecast To 2025.
The light commercial vehicles are the vehicles manufactured for carrying goods of passengers. Moreover, they manufacture light commercial vehicles with features, such as fuel efficiency, intra-city operations, and compact size. The maximum mass limits for the light commercial vehicles mainly vary between 3.5tons to 7 tons, based on the local government regulations or standards. These vehicles include vans, goods carrying vans, utility vehicles, light trucks, and buses.
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Commercial Vehicle Market Key Players:
The prominent players in the global light commercial vehicles market include Daimler AG (Germany), Volvo Group (Sweden), Dongfeng Motor Corporation (China), Volkswagen Group (Germany), Tata Group (India), Ford Motor Company (US), Groupe PSA (France), General Motors (US), Hyundai Motor Company (South Korea), and Groupe Renault (France).
Commercial Vehicle Market Highlights:
The light commercial vehicles are the vehicles manufactured for carrying goods of passengers. Moreover, they manufacture light commercial vehicles with features, such as fuel efficiency, intra-city operations, and compact size. The maximum mass limits for the light commercial vehicles mainly vary between 3.5tons to 7 tons, based on the local government regulations or standards. These vehicles include vans, goods carrying vans, utility vehicles, light trucks, and buses.
Light commercial vehicles witness massive demand due to the growth of the transportation industry and a rise in the e-commerce business, across the globe, which is expected to drive the global light commercial vehicles. As per the International Post Corporation, the global e-commerce industry has rapid growth with a CAGR of 15%. This will enable the transportation of goods to the end users. Hence, it is expected that the increase in the consumption of e-commerce goods, worldwide, will increase the light commercial vehicle fleets for the e-commerce companies, such as Amazon, eBay, and Alibaba. Moreover, the rise in demand for engine downsizing with the installation of automotive turbochargers for fuel-efficiency and improved vehicle performance, increasing sales of electric vehicles – hybrid and plug-in are the factors adding to for the growth of light commercial vehicles market. Additionally, the powertrain integration coupled with vehicle refinement to meet designing, inspection, and testing solutions are expected to support the global light commercial vehicles market growth.
The automotive OEMs engaged in the manufacture and distribution of light commercial vehicles aim at finishing the past inventory and start new production to meet the new emission standards, at the global level. Moreover, the automotive OEMs are shifting their preference from the production of passenger cars to the production of light commercial vehicles owing to urbanization and the rise in consumption of goods, around the globe. According to the Statistics Netherlands, a Dutch governmental institution, in 2017, there was a 2.2% y-o-y growth in transportation of goods by road in the domestic market, which has increased the demand for light commercial vehicles in the country . Additionally, there has been higher growth in the transportation of goods in Europe and Asia-Pacific by road than rail or marine, owing to the massive growth in the sales of e-commerce products, which would further lead to the demand for light commercial vehicles during the forecast period. Thus, the global light commercial vehicles market is estimated to witness ~4.5% CAGR during the period, 2019-2025.
Scope of the Report
This study provides an overview of the Global Light Commercial Vehicles Market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global light commercial vehicles market by type, fuel type, and region.
By Type
- Trucks
- Buses
- Vans
- Coaches
- Others
By Fuel Type
- Diesel
- Gasoline
- Electric
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Global Light Commercial Vehicle Market Segments Analysis:
The global light commercial vehicles market is segmented on the basis of type, fuel type, and region.
On the basis of type, the market has been segmented into trucks, buses, vans, coaches, and others. The trucks segment is expected to dominate the market during the forecast period. Also, the vans segment is expected to lead the global light commercial vehicle market by type in terms of CAGR during the forecast period.
On the basis of fuel type, the market has been segmented into diesel, gasoline, and electric. The diesel light commercial vehicle segment is estimated to dominate the market in terms of value and volume during the forecast period.
Global Light Commercial Vehicle Market Regional Analysis:Geographically, the global light commercial vehicles market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the prominent market share during the forecast period owing to the growing domestic e-commerce industry leading to the strong growth of the transportation industry. On the other hand, Asia-Pacific is estimated to witness substantial growth in the global market with the rising automotive production in China, India, and ASEAN countries and stringent government regulations for emissions from the light commercial vehicles.
List Of Tables
Table 1 Global Light Commercial Vehicles Market: By Region, 2019–2025
Table 2 North America: Light Commercial Vehicles Market: By Country, 2019–2025
Table 3 Europe: Light Commercial Vehicles Market: By Country, 2019–2025
Table 4 Asia-Pacific: Light Commercial Vehicles Market: By Country, 2019–2025
Table 5 RoW: Light Commercial Vehicles Market: By Region, 2019–2025
Table 6 Global Light Commercial Vehicles Market, By Type, By Regions, 2019–2025
Table 7 North America: Light Commercial Vehicles Market, By Type, By Country, 2019–2025
Table 8 Europe: Light Commercial Vehicles Market, By Type, By Country, 2019–2025
Table 9 Asia-Pacific: Light Commercial Vehicles Market, By Type, By Country, 2019–2025
Table 10 RoW: Light Commercial Vehicles Market, By Type, By Country, 2019–2025
Continued…
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