Global Commercial Vehicle Market Size is estimated to expand rapidly in coming years, at a CAGR of 8.5 % from 2018 to 2027. In 2017, the global market valuation was USD xx.xx billion, and it is anticipated to be greater than USD xx.xx billion by 2027. While the business has experienced slow growth in recent years, its sales performance is expected to recover, especially in emerging economies. The demand of commercial vehicles is expected to increase over the forecast period in conjunction with increasing infrastructure spending. The rise of the world economy and the economic expansion were initially closely related to business development; however this connection quickly breaks down. The industry should be guided by major market developments, such as convergence of telematics systems, desire for unique transportation technologies by end-users and increased popularity of fleet sharing.
Global Market Growth Opportunities (Revenue, Growth) By 2019-2027
In the pursuit of telematics and networking, many of the original equipment manufacturers (OEMs) have launched automobiles fitted with various services related to them, including weather reports, collision alerts, traffic data and highway notifications. Connected cars provide many benefits, including improved safety, deter unwanted vehicle access and thus reduce car abuse and wear and tear. In the next few years, this is expected to help fuel market growth.
The market is expected to have a positive impact over the prediction period on developments in the field of electric vehicles (EVs) and semi-autonomous commercial cars / trucks. In the next few years, the adoption of EVs in the commercial transport sector will be a trend to be observed because of numerous advantages offered over conventional vehicles. However, strategies for implementing EVs are expected to lead to market growth in developed countries for use in the commercial vehicle sector.
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global commercial vehicle market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global commercial vehicle market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
The analysis of the report is carried on various primary and secondary data sources. The primary sources include conduction interviews with numerous industry analysts, suppliers, distributors, and other involved professionals. The secondary sources include a review of statistical data from press releases, government websites, annual reports of the companies, and other relevant documents.
During interviews, these primary and secondary sources provide exclusive information, which acts as a validation from global commercial vehicle market leaders. Access to an extensive internal repository and external proprietary databases helps this study to address questions and details regarding the market. Also, the report uses the top-down approach to assess the figures for each segment and to counter-validate them with the bottom-up approach.
We have covered two proprietary models in the commercial vehicle report, the FPNV Positioning Matrix and the Competitive Strategic Window and. The FPNV Positioning Matrix analyses players’ competitive marketplace in terms of product satisfaction and business strategy they follow to sustain in the market. In terms of applications, markets, and geographies, the Competitive Strategic Window analyses the competitive landscape.
By Product Insights: On the basis of product, global commercial vehicle market has been segmented into light commercial vehicles (LCVs), heavy trucks, buses & coaches. Among which light commercial vehicle segment has accounted for largest share in the global market of commercial vehicles. The rise can be due to the dynamic nature of these cars, requiring them to be adapted and used for passenger and goods transport. Such cars are rentable and help reduce pollution, which also improves the development of the market.
Over the years due to increased adoption in the tourism and health industries, the bus and coach segment is anticipated to become more active. Busses and coaches are the most affordable mode of transport, which has a positive influence on revenue.
By End Use Insights: On the basis of end use, global commercial vehicle market has been segmented into industrial, mining & construction, logistics, passenger transportation, others. The logistics industry saw substantial demand and reported a significant market share in 2017. The section will be powered by increasing global trading practices in the years to come. The growth of the passenger transport segment is made possible by affordability and passenger transportation accessibility and increased traffic costs in developing and developing economies.
The commercial vehicle market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
Global Commercial Vehicle Market Size, Share Analysis by Region 2018
The market in North America has captured both sales and volume in the forecasted period and is anticipated to show a significant CAGR. Increased funding choices, continuous infrastructure development expenditure and enhanced policy emphasis on in-house car manufacturing are key factors which have a beneficial effect for regional growth.
The Asia-Pacific market will be the highest growing CAGR in both volume and revenue over the forecast period. The growth of road infrastructure, combined with increased manufacturing facilities due to economic labor and the consumption of raw materials, is expected to stimulate market growth especially in developing economies such as China and India.
Global Commercial Vehicle Market Study Objective
1. To forecast the market size of commercial vehicle market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of commercial vehicle market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of commercial vehicle market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of commercial vehicle market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the commercial vehicle market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Daimler AG, Toyota Motor Corporation, ISUZU, Mitsubishi Motor Corporation, and Hino Motors are some of the key players in the global market of commercial vehicle. Such manufacturers plan to supply customized goods to increase consumer base and market share. They also focus on increasing geographical reach in order to gain maximum application penetration, especially in developing countries. It is likely to be a key factor in success for companies to set up R&D centers, together with strategic partnerships with investment companies, to introduce innovative technologies.
Global Commercial Vehicle Market Study Report Offer You!
The global commercial vehicle market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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