Market Size of asia-pacific commercial vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 399.92 Billion |
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Market Size (2029) | USD 611.06 Billion |
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Largest Share by Body Type | Trucks |
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CAGR (2024 - 2029) | 8.85 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
APAC Commercial Vehicle Market Analysis
The Asia-Pacific Commercial Vehicles Market size is estimated at USD 399.92 billion in 2024, and is expected to reach USD 611.06 billion by 2029, growing at a CAGR of 8.85% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - Gasoline : The majority of sales across all fuel categories were diesel-fueled CV, as diesel is the traditional fuel engine, generates more power, and is easy availability is a must in commercial usage.
- Fastest-growing Segment by Fuel Type - HEV : The norms introduced by the government, awareness of e-mobility, development in charging infrastructure and incentiveS is making BEV as fastest growing fuel type in the APAC commercial vehicle market.
- Largest Country market - China : China has witnessed the largest share in APAC commercial vehicle sales due to the growth in construction, the eCommerce sector, and logistics activities over the past few years.
- Largest Segment by Body Type - Trucks : The demand for light commercial cars is growing continuously owing to the expanding logistics and e-commerce sectors and development in construction activities.
