The Global Commercial Vehicle Market Report by The Business Research Company covers commercial vehicle market drivers and restraints, commercial vehicle market size, major players, and the impact of COVID-19 on the commercial vehicle market.
The commercial vehicles market consists of sales of commercial vehicles and related services by entities (organizations, sole traders and partnerships) that produce complete light trucks and utility vehicles such as light duty vans, minivans, pick-up trucks and sports utility vehicles, and complete heavy duty trucks, buses, coaches, heavy duty motor homes and other special purpose heavy duty motor vehicles for highway use. The commercial vehicle market is segmented into light commercial vehicle; heavy trucks and buses and coaches.
The global commercial vehicle market is expected to grow from $719.08 billion in 2020 to $784.6 billion in 2021 at a compound annual growth rate (CAGR) of 9.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1132.57 billion in 2025 at a CAGR of 10%.
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Some commercial vehicle market trends include companies investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Driverless commercial vehicles are able to sense its surrounding environment and navigate through an area without the involvement of humans using radar, GPS, computer vision technology. With this technology becoming realistic many companies are expected to be part of production and design of driverless vehicles.
Global commercial vehicle market segments include:
1) By Type: Light Commercial Vehicle, Heavy Trucks, Buses And Coaches
2) By Fuel Type: Gasoline, Diesel, Others
3) By Application: Mining & Construction, Logistics, Passenger Transportation, Others
4) By Propulsion Type: IC Engine, Electric Vehicle
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest global commercial vehicle market share.
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The Commercial Vehicle Market – By Type (Light Commercial Vehicle, Heavy Trucks Buses, Coaches), By Fuel Type (Gasoline, Diesel, Others), By Propulsion Type (IC Engine, Electric Vehicle), By Application (Mining & Construction, Logistics, Passenger Transportation, Others) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides commercial vehicle market overviews, analyzes and forecasts market size, share, commercial vehicle market players, commercial vehicle market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The commercial vehicle identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Commercial Vehicle Market – Opportunities And Strategies – Global Forecast To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Daimler AG, Volvo Group, Man Truck & Bus, Hino Motors, Scania.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Commercial Vehicle Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Commercial Vehicle Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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