Commercial Vehicles

Commercial Vehicles Market Size Valuation Will Reach to US$ 2.55 Trillion by 2027

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[150+ Pages Report] The commercial vehicles market is expected to exhibit a CAGR of 6.8% from 2020 to 2027 and is projected to reach US$ 2.55 Trillion by the end of 2027, according to a 2021 study by Precedence Research, the Canada based market insight company.

The study provides the overall revenue of the global commercial vehicles market from 2017 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global commercial vehicles market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the commercial vehicles industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

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Report Highlights

  • North America captured maximum market value share in the global commercial vehicles market and anticipated to grow at a considerable rate during the forecast period.
  • The Asia Pacific registered the highest growth rate over the analysis period. This is attributed to the increasing road infrastructure along with rising manufacturing facilities due to cost-effective raw materials and labor, particularly in the developing countries such as India and China.
  • Based on product, Light Commercial Vehicles (LCVs) led the global commercial vehicles market with significant revenue share of around 75% and predicted to retain its position during the forecast period. In 2019, passenger transportation accounted for significant market value share and predicted to exhibit lucrative growth rate of nearly 8% over the forecast period. Rising expenditure on commutation to improve accessibility and affordability is one of the prime factors that escalate the growth of the segment.
  • Logistics segment witnessed prominent demand in the past few years owing to the growth in trade activities worldwide. Moreover, the segment captured remarkable revenue share in 2019 due to increasing penetration of e-commerce and retail business.

Growth Factors

Introduction of telemetric and connectivity have revolutionized operations due to which various original equipment manufacturers (OEMs) have launched commercial vehicles equipped with numerous connected services, such as traffic data, accident warnings, weather reports, and updates on roadwork’s. This contributed as a major factor that fuels the market growth. Furthermore, developments in the field of semi-autonomous commercial vehicles as well as electric vehicles (EVs) expected to positively influence the market growth over the forecast period. Advent of vehicle electrification and battery-powered engines expected to fuel the demand for light commercial vehicles in the coming years.

Further, growth in the industrial sector also escalates the demand for LCV prominently. However, buses and coaches segment expected to gain traction over the analysis period due to its rising adoption in the healthcare and tourism sector. Governments of various regions have significantly implemented the green mobility and rapidly replacing traditional buses and other mode of public transport into smart and electric based vehicles that prominently fuels the growth of the segment.

Regional Snapshots

North America occupied the largest revenue share in the global commercial vehicles market in 2019 and projected to continue the same trend over the analysis period. This is attributed to the significant government support for the adoption of smart and environment-friendly vehicles in the region. Rate of carbon emission and greenhouse gas has crossed the environment standard in the region. In order to curb the emission from transportation sector government has issued attractive policies to promote the adoption of electric vehicles across the region. Significant development in the industrial sector along with stringent government norms pertaining to load carrying capacity of the commercial vehicles is the prime factor that triggers the growth of the region.

On the other hand, the Asia Pacific registered the fastest growth over the analysis period. Rising investment in road and transport infrastructure along with increasing manufacturing facilities particularly in the developing nations such as India and China accounted as the prime factors to drive the growth of the region. In addition, green revolution in various countries in order to favor the green mobility solution and other smart & attractive solutions in other sectors expected to propel the adoption of advanced vehicle solutions, thereby fuelling the growth of the region.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global commercial vehicles market are as follows:

  • Bosch Rexroth AG
  • Ashok Leyland
  • Daimler
  • Toyota Motor Corporation
  • Volkswagen AG
  • Mahindra and Mahindra
  • VOLVO
  • TATA Motors
  • General Motors
  • Golden Dragon

Market Segmentation

Segments Covered in the Report

This research study encompasses comprehensive assessment of the marketplace revenue with the help of prevalent quantitative and qualitative intelligences, and prognoses of the market. This report presents breakdown of market into major and niche segments. Furthermore, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report comprises market division and its revenue valuation by categorizing it depending on product, end-use, and region:

By Product

  • Light Commercial Vehicles (LCVs)
  • Buses & Coaches
  • Heavy Trucks

By End-use

  • Mining & Construction
  • Industrial
  • Passenger Transportation
  • Logistics
  • Others

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights covered in the report include:

Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global commercial vehicles market. It examines trends and factors influencing demand for commercial vehicles globally and gauges the impact of the same on the production.

Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.

Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.

Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for commercial vehicles across the world.

Competitive Analysis – Some of the leading market players are profiled in the report on commercial vehicles. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.

Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global commercial vehicles market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for commercial vehicles are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Commercial Vehicles Market, By Product

7.1. Commercial Vehicles Market, by Product Type, 2020-2027
7.1.1. Light Commercial Vehicles (LCVs)
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Buses & Coaches
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Heavy Trucks
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Commercial Vehicles Market, By End-User

8.1. Commercial Vehicles Market, by End-User, 2020-2027
8.1.1. Mining & Construction
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Industrial
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Passenger Transportation
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Logistics
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Commercial Vehicles Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.2. Market Revenue and Forecast, by End-User (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.4.2. Market Revenue and Forecast, by End-User (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.2. Market Revenue and Forecast, by End-User (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.4.2. Market Revenue and Forecast, by End-User (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.5.2. Market Revenue and Forecast, by End-User (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.6.2. Market Revenue and Forecast, by End-User (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.4.2. Market Revenue and Forecast, by End-User (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.5.2. Market Revenue and Forecast, by End-User (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.6.2. Market Revenue and Forecast, by End-User (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.2. Market Revenue and Forecast, by End-User (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.4.2. Market Revenue and Forecast, by End-User (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.5.2. Market Revenue and Forecast, by End-User (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.6.2. Market Revenue and Forecast, by End-User (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.2. Market Revenue and Forecast, by End-User (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.3.2. Market Revenue and Forecast, by End-User (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.4.2. Market Revenue and Forecast, by End-User (2016-2027)

Chapter 10. Company Profiles

10.1. Bosch Rexroth AG
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Ashok Leyland
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Daimler
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Toyota Motor Corporation
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Volkswagen AG
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Mahindra and Mahindra
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. VOLVO
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. TATA Motors
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. General Motors
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Golden Dragon
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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