Canada Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Canada Commercial Vehicles Market is segmented by Vehicle Type ( Commercial Vehicles ) and by Engine Type ( Hybrid And Electric Vehicles, ICE )

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Canada Commercial Vehicles Market Size

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Canada Commercial Vehicles Market
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 23.65 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 25.43 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Body Type Trucks
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 1.46 %
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Body Type Trucks

Major Players
major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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Canada Commercial Vehicles Market Analysis

The Canada Commercial Vehicles Market size is estimated at USD 23.65 billion in 2024, and is expected to reach USD 25.43 billion by 2029, growing at a CAGR of 1.46% during the forecast period (2024-2029).

  • Largest Segment by Vehicle Type - Trucks : The rise in international trade,and emphasis on passenger and vehicle safety as medium-duty trucks are easy to handle has made medium-duty trucks the largest segment in a CV in Canada.
  • Fastest-growing Segment by Fuel Type - Diesel : Stringent norms, awareness of e-mobility, development in charging infrastructure and incentiveS is making BEV as fastest growing fuel type in the Canada commercial vehicle market.
  • Largest Segment by Fuel Type - CNG : Diesel acquires largest share in Canada commercial vehicles market due to the traditional and reliable fuel type (more power and torque and fuel is easily available) over others (electric or CNG).
  • Fastest-growing Segment by Vehicle Type - Trucks : The Growth in construction projects, trading, and increase in the logistics usage for heavy carriages is making heavy trucks the fastest-growing body type in commercial vehicle sales in Canada.

Canada Commercial Vehicles Market Trends

This section covers the major market trends shaping the Canada Commercial Vehicles Market according to our research experts:

Trucks is the largest segment by Body Type.

Canada Commercial Vehicles Market

Canada Commercial Vehicles Industry Overview

The Canada Commercial Vehicles Market is fragmented, with the top five companies occupying 26.54%. The major players in this market are GM motors, ISUZU COMMERCIAL TRUCKS, Mitsubishi Fuso Truck and Bus Corporation, Toyota motor corporation and Volvo group (sorted alphabetically).

Canada Commercial Vehicles Market Leaders

  1. GM motors

  2. ISUZU COMMERCIAL TRUCKS

  3. Mitsubishi Fuso Truck and Bus Corporation

  4. Toyota motor corporation

  5. Volvo group

*Disclaimer: Major Players sorted in no particular order

Canada Commercial Vehicles Market
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Canada Commercial Vehicles Market News

  • May 2022: With a brand-new, all-electric e-transit custom, Ford Professional showcases the thrilling next chapter of the electrification adventure. This car has a targeted 380 km of range, complete towing capacity, DC rapid charging, and the exclusive Pro-Power Onboard function. The production will begin in 2023 at Ford Otosan facility in Kocaeli, Turkey.
  • April 2022: Ford Pro introduces a comprehensive solution that combines cars with software and digital services to boost productivity for European business clients. As more companies switch to electric cars, it lowers operating costs and improves sustainability.
  • March 2022: Ford, SK, and Koç are establishing a cooperative venture to hasten the electrification revolution in Europe. Through this joint venture, Ford is able to take the lead and accelerate the electrification of commercial vehicles.

Canada Commercial Vehicles Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Electrification Impact

    8. 2.8. New XEV Models Announced

    9. 2.9. Charging Stations Deployment

    10. 2.10. Regulatory Framework

    11. 2.11. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION

    1. 3.1. Vehicle Type

      1. 3.1.1. Commercial Vehicles

        1. 3.1.1.1. Buses

        2. 3.1.1.2. Heavy-duty Commercial Trucks

        3. 3.1.1.3. Light Commercial Pick-up Trucks

        4. 3.1.1.4. Light Commercial Vans

        5. 3.1.1.5. Medium-duty Commercial Trucks

    2. 3.2. Engine Type

      1. 3.2.1. Hybrid And Electric Vehicles

        1. 3.2.1.1. By Fuel Type

          1. 3.2.1.1.1. BEV

          2. 3.2.1.1.2. FCEV

          3. 3.2.1.1.3. HEV

          4. 3.2.1.1.4. PHEV

      2. 3.2.2. ICE

        1. 3.2.2.1. By Fuel Type

          1. 3.2.2.1.1. CNG

          2. 3.2.2.1.2. Diesel

          3. 3.2.2.1.3. Gasoline

          4. 3.2.2.1.4. LPG

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. Daimler Trucks North America

      2. 4.4.2. Ford motor company

      3. 4.4.3. GM motors

      4. 4.4.4. Hino Motors, Ltd.

      5. 4.4.5. ISUZU COMMERCIAL TRUCKS

      6. 4.4.6. Mitsubishi Fuso Truck and Bus Corporation

      7. 4.4.7. Toyota motor corporation

      8. 4.4.8. Volvo group

  7. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. CANADA COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. CANADA COMMERCIAL VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. CANADA COMMERCIAL VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. CANADA COMMERCIAL VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. CANADA COMMERCIAL VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. CANADA COMMERCIAL VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 8:  
  2. CANADA COMMERCIAL VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 9:  
  2. CANADA COMMERCIAL VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. CANADA COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 11:  
  2. CANADA COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 12:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 13:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 14:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 15:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 16:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 17:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
  1. Figure 18:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 19:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 20:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 21:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 22:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 23:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 24:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 25:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 26:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
  1. Figure 27:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 28:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 29:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 30:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 31:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY ENGINE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 32:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY ENGINE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 33:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
  1. Figure 34:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
  1. Figure 35:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 36:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 37:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 38:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 39:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 40:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 41:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 42:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 43:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 44:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 45:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 46:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 47:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 48:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 49:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 50:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 51:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 52:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 53:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 54:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 55:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY CNG, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY CNG, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 58:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VOLUME IN UNITS, 2016-2028
  1. Figure 59:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VALUE IN USD, 2016-2028
  1. Figure 60:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 61:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 62:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VALUE IN USD, 2016-2028
  1. Figure 63:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 64:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LPG, BY VOLUME IN UNITS, 2016-2028
  1. Figure 65:  
  2. CANADA COMMERCIAL VEHICLES MARKET, BY LPG, BY VALUE IN USD, 2016-2028
  1. Figure 66:  
  2. CANADA COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 67:  
  2. CANADA COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 68:  
  2. CANADA COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 69:  
  2. CANADA COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Canada Commercial Vehicles Industry Segmentation

Commercial Vehicles are covered as segments by Vehicle Type. Hybrid And Electric Vehicles, ICE are covered as segments by Engine Type.
Vehicle Type
Commercial Vehicles
Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Engine Type
Hybrid And Electric Vehicles
By Fuel Type
BEV
FCEV
HEV
PHEV
ICE
By Fuel Type
CNG
Diesel
Gasoline
LPG
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Market Definition

  • Body Type - It includes buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
  • Engine Type - This includes Hybrid and electric vehicles and Internal combustion engines (ICE).
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV while ICE includes Gasoline, Diesel, CNG, LPG.
  • Sub Body Type - Under this category, buses, heavy-duty commercial trucks, light commercial pickup trucks, light commercial vans, and medium-duty commercial trucks have been included.
  • Vehicle Type - Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Canada Commercial Vehicles Market Research FAQs

The Canada Commercial Vehicles Market size is expected to reach USD 23.65 billion in 2024 and grow at a CAGR of 1.46% to reach USD 25.43 billion by 2029.

In 2024, the Canada Commercial Vehicles Market size is expected to reach USD 23.65 billion.

GM motors, ISUZU COMMERCIAL TRUCKS, Mitsubishi Fuso Truck and Bus Corporation, Toyota motor corporation and Volvo group are the major companies operating in the Canada Commercial Vehicles Market.

In the Canada Commercial Vehicles Market, the Trucks segment accounts for the largest share by body type.

In 2024, the Trucks segment accounts for the fastest growing by body type in the Canada Commercial Vehicles Market.

In 2023, the Canada Commercial Vehicles Market size was estimated at USD 23.72 billion. The report covers the Canada Commercial Vehicles Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Commercial Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Canada Commercial Vehicles Industry Report

Statistics for the 2024 Canada Commercial Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Commercial Vehicles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Canada Commercial Vehicles Report Snapshots

Canada Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029