Market Size of canada commercial vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 23.65 Billion |
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Market Size (2029) | USD 25.43 Billion |
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Largest Share by Body Type | Trucks |
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CAGR (2024 - 2029) | 1.46 % |
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Fastest Growing by Body Type | Trucks |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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.
