Global Commercial Vehicle Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends

October 25, 2021 by The Business Research Company

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 purposes heavy duty motor vehicles for highway use.

The global commercial vehicle market reached a value of nearly $719,081.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 6.2% since 2015. The market is expected to grow at a CAGR of 9.5% from 2020 to reach $1,132,567.9 million in 2025. The global commercial vehicle market is expected to reach $1,653,161.1 million in 2030, at a CAGR of 7.9%.

The increase in online shopping is expected to drive the light commercial vehicle demand, thereby contributing to the market expansion. As urbanization has increased, it has created new retail and e-commerce platforms that require efficient logistics, which could be fulfilled by light commercial vehicles (LCV). Moreover, the current pandemic situation has spiked online shopping demand owing to health concerns. Thus, increasing demand for goods through e-commerce is pushing the use of LCV in logistics paving way for the growth of the commercial vehicles market.

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Some commercial vehicle market trends include investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Moreover, additive manufacturing is continuously evolving and vehicle manufacturers are now using 3D printing technology to reduce production time and costs.

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 Propulsion Type: IC Engine, Electric Vehicle

4) By Application: Mining & Construction, Logistics, Passenger Transportation, Others

5) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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The Commercial Vehicle Opportunities And Strategies: 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 Opportunities And Strategies: 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: Diamler AG, Volvo Group, PACCAR Inc., Dongfeng Motor Group Company Limited, Volkswagen AG

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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