Commercial Vehicles Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 0.85 Trillion |
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Market Size (2030) | USD 1.33 Trillion |
|
Largest Share by Vehicle Body Type | Light Commercial Pick-up Trucks |
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|
CAGR (2024 - 2030) | 7.83 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Commercial Vehicles Market Analysis
The Commercial Vehicles Market size is estimated at 0.85 trillion USD in 2024, and is expected to reach 1.33 trillion USD by 2030, growing at a CAGR of 7.83% during the forecast period (2024-2030).
0.85 Trillion
Market Size in 2024 (USD)
1.33 Trillion
Market Size in 2030 (USD)
2.23 %
CAGR (2017-2023)
7.83 %
CAGR (2024-2030)
Largest Segment by Vehicle Configuration
51.45 %
value share, Trucks, 2023
Trucks dominate the global commercial vehicle market due to their critical role in logistics and transportation, meeting the high demand for goods movement across various industries.
Largest Segment by Fuel Category
53.55 %
value share, Diesel, 2023
Diesel remains the largest segment due to its higher energy density and better fuel efficiency for long-haul transportation, making it a cost-effective choice for commercial operations.
Fastest-growing Segment by Fuel Category
32.99 %
Projected CAGR, FCEV, 2024-2030
FCEVs are the fastest-growing segment due to advancements in hydrogen fuel cell technology, expanding infrastructure, and the global push for zero-emission vehicles.
Largest Country Market
28.09 %
value share, China, 2023
China leads the global commercial vehicle market due to its extensive manufacturing base, significant domestic demand, and investments in vehicle technology and infrastructure.
Leading Market Player
12 %
market share, Ford Motor Company, 2023
Ford leads due to its versatile commercial vehicles, global brand reputation, and extensive dealership network, making it a top choice worldwide.
- The development of the industrial sector in emerging economies and the increase of commercial logistics activities substantially impact the demand for commercial vehicles. Due to the growing demand for material transportation caused by the developing construction and e-commerce industries, commercial vehicle sales have recently grown. After declining by three million units in 2020, the output of commercial vehicles increased to roughly 23.2 million units in 2021, steadily regaining its previous level.
- As the majority of international borders are closed due to the COVID-19 pandemic, the commercial vehicle manufacturing industry's supply chain is expected to be disrupted for an extended period in 2021. This will have a negative impact on market growth. The COVID-19 pandemic brought the transportation sector to a halt, posing significant challenges for the freight and manufacturing industries in moving goods from one location to another.
- Due to increased demand for commercial vehicles, truck manufacturers have been introducing new advanced trucks to meet the rising demand and emission standards. Commercial vehicle leasing and the rental industry are also growing due to the increased demand for operational efficiencies and the realization of economies of scale by businesses across multiple industries. E-commerce has become an essential component of the global retail framework in recent years. Over 2 billion people purchased goods or services online in 2020, and global e-commerce sales surpassed USD 4.2 trillion in the same year. The overall commercial vehicle industry is expected to grow significantly in the near future.
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- Commercial vehicle manufacturing grew to about 23.2 million units globally in 2021 after declining by 3 million units in 2020. Light commercial vehicles are sometimes defined as automobiles weighing less than 3.5 ton. A commercial vehicle is any motor vehicle intended for use in the commercial transportation of products and people. With a total of 10.9 million vehicles manufactured in 2021, North America produced the most commercial vehicles. With close to 3.3 million units manufactured, estimates ranked Asia and Oceania as the world's greatest producers of heavy trucks in 2021. One of the key drivers fueling the market's expansion is a rise in clean energy demand in the automobile sector.
- The global output of commercial vehicles decreased by little about 13% between 2019 and 2020 before increasing again in 2021. Manufacturing facilities were shut down amid national lockdowns that extended until 2020 because of the coronavirus pandemic's effects on the transportation and logistics sector. While demand and output rose in 2021, the sector's recovery was hindered by the worldwide chip shortage, which led factories to once again cut back on output.
- Due to the increased public concern over the carbon dioxide emissions of the international transportation sector, finding alternative fuel sources is now a more important goal for the commercial fleet sector. Governments all across the world have taken the lead in enacting laws and rules to encourage the use of electric vehicles. According to their individual pronouncements, China, India, France, and the United Kingdom will stop producing gasoline and diesel vehicles by 2040. This transition will increase the penetration of commercial vehicles in the near future.
Global Commercial Vehicles Market Trends
The rising global demand and government support propel electric vehicle market growth
- Electric vehicles (EVs) have become indispensable in the automotive sector, driven by their potential to enhance energy efficiency and reduce greenhouse gas and pollution emissions. This surge is primarily attributed to growing environmental concerns and supportive government initiatives. Notably, global EV sales witnessed a robust 10.82% growth in 2022 compared to 2021. Projections indicate that annual sales of electric passenger cars will surpass 5 million by the end of 2025, accounting for approximately 15% of total vehicle sales.
- Leading manufacturers and organizations, like the London Metropolitan Police & Fire Service, have been actively pursuing their electric mobility strategies. For instance, they have set a target of a zero-emission fleet by 2025, with a goal of electrifying 40% of their vans by 2030 and achieving full electrification by 2040. Similar trends are expected globally, with the period from 2024 to 2030 witnessing a surge in demand and sales of electric vehicles.
- Asia-Pacific and Europe are poised to dominate electric vehicle production, driven by their advancements in battery technology and vehicle electrification. In a notable move, in May 2020, Kia Motors Europe unveiled its "Plan S," signaling a strategic shift toward electrification. This decision came on the heels of record-breaking sales of Kia's EVs in Europe. Kia has ambitious plans to introduce 11 EV models globally by 2025, spanning various segments like passenger vehicles, SUVs, and MPVs. The company aims to achieve annual global EV sales of 500,000 by 2026.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Africa's demographic evolution demonstrates consistent growth with a notable acceleration in recent years
- Several European countries face population declines, while others grow, indicating a need for targeted policy interventions
- North America's demographic story highlights steady growth and adaptability, with each nation contributing uniquely to the region's vibrant mosaic, underlining North America's continued global significance
- Despite a GDP per capita decline in 2022-2023, Africa shows potential for future economic stability through trade agreements and infrastructure development
- Europe's GDP per capita is on track for steady growth, reflecting resilience and strategic policies
- Despite challenges in 2020, by 2023, the US experienced growth, Mexico displayed a robust recovery, while Canada witnessed a dip
- South Africa's consumer vehicle population shows signs of stabilization
- European countries are experiencing growth in CVP, driven by government incentives for environmentally friendly vehicles
- North America exhibits diverse trends in consumer spending for vehicle purchases (CVP), and Canada experiences a slight decrease, while the US sees an increase, and Mexico shows significant growth
- South Africa, Kenya, and Morocco exhibit declining inflation rates, while Nigeria faces a sharp inflation increase
- The European region is poised for economic stability, with concerted efforts to manage inflation and foster a balanced economic landscape
- From 2017 to 2030, North America, particularly countries like the US and Canada, navigated inflationary spikes, especially post-pandemic in 2022, but projections suggest a trend toward economic stability and controlled inflation for the region by 2030
- Auto interest rates across Africa, Asia-Pacific, and North America showed significant regional diversity, influenced by a combination of economic policies, market dynamics, and global conditions
- Battery pack prices in Africa continued to decline from USD 186 in 2022 to USD 176 in 2023, driven by technological advancements and increased market competition
- Declining battery prices and government initiatives drive demand for electric vehicles in Europe
- Declining prices of lithium-ion batteries drive the demand for electric vehicles in North America
- The global automotive industry will undergo a transformative phase, with a pronounced shift toward electrification from 2023 to 2025, followed by a period of refinement and consolidation in the subsequent years
- The Asia-Pacific region is witnessing a resurgence in the logistics performance index, driven by infrastructural developments and technological advancements
- The Middle East, led by the UAE, Saudi Arabia, and Qatar, invested in logistics infrastructure and technology despite challenges from geopolitical tensions
- South America's diverse landscape and resources pose unique logistics challenges
- The auto industry's production landscape is witnessing a dramatic shift, with electric vehicle manufacturers like BYD Auto and Tesla seeing remarkable growth while traditional giants like GM adapt to changing market demands
- Countries like Australia, India, and Indonesia project a steady upward trajectory in GDP per capita, suggesting robust economic strategies and potential investment in the automotive sectors
- Saudi Arabia and the United Arab Emirates, both pivotal nations in the Middle East, demonstrated population growth from 2017 to 2023. While there were slight dips for both countries in between, the overarching upward trend indicates their significant roles and attractions in the region
- South America's demographic narrative, represented by Brazil and Colombia, showcases a story of consistent growth, with Brazil experiencing a pronounced surge
- Asia-Pacific displays a panorama of economic evolution: from the relentless pursuits of emerging economies to the recalibrations of established ones, painting a picture of resilience, adaptation, and ambition
- Projections for the coming years indicate a steady growth trajectory for both the UAE's diversified sectors and its role as a regional business hub. This growth can be attributed to the country's focus on diversification efforts and strategic partnerships
- During 2017-2030, Brazil and Colombia displayed contrasting economic paths. While both faced downturns around 2020, Brazil's GDP per capita showed recovery by 2023, whereas Colombia witnessed a slight decline
- The Asia-Pacific's diverse consumer spending trends on vehicle purchases not only reflect the region's evolving economic conditions but also highlight the shifting consumer preferences and vehicular market dynamics across countries
- In the short term (2022-2023), Saudi Arabia maintained stable consumer spending for vehicle purchases, while the UAE experienced a slight decline, suggesting differing market dynamics
- Brazil and Colombia are expected to see an increase in consumer spending for vehicle purchases (CVP), indicating a recovering automotive market and growing consumer confidence
- Asia-Pacific’s varied inflation rates reflect the diverse economic challenges and responses of each nation, from battling pandemic-induced fluctuations to aiming for future stability through strategic economic policies
- From 2017 to 2030, the Middle East is expected to display varied inflationary patterns, with countries like Iran facing significant challenges, while others like Saudi Arabia and the UAE will show stability
- Projections indicate a trend toward economic stabilization and controlled inflation in the region, highlighting a concerted push to restore equilibrium and foster growth
- Global efforts to expand and enhance EV infrastructure are signaling a collective push toward electrification
- The demand for EVs in the Asia-Pacific region is fueled by falling battery prices
- The Middle East's battery market: A continuous descent in prices and promising energy trends
- South America’s surging demand for electric vehicle batteries: falling costs and strategic alliances
- Africa's vastness posed logistics challenges, yet hubs like South Africa and Kenya emerged strong. By 2023, initiatives like AfCFTA and infrastructure projects improved connectivity, but challenges remained.
- Europe's advanced logistics, driven by the EU's open trade policies, has faced challenges like Brexit. With a focus on sustainability and technology in 2023, Europe was expected to remain a global logistics leader, poised for further innovation and adaptation
- North America has a diverse terrain that presents unique logistics challenges, but in 2023, the United States, Canada, and Mexico achieved high LPI rankings. The region is set for a transformative logistics future with trade agreements and digital advancements
- For over a year, Russia's invasion of Ukraine disrupted global crude oil and petroleum product markets
Commercial Vehicles Industry Overview
The Commercial Vehicles Market is fragmented, with the top five companies occupying 30%. The major players in this market are BAIC Motor Corporation Ltd., Daimler AG (Mercedes-Benz AG), Ford Motor Company, Toyota Motor Corporation and Volkswagen AG (sorted alphabetically).
Commercial Vehicles Market Leaders
BAIC Motor Corporation Ltd.
Daimler AG (Mercedes-Benz AG)
Ford Motor Company
Toyota Motor Corporation
Volkswagen AG
Other important companies include BYD Auto Co. Ltd., Dongfeng Motor Corporation, General Motors Company, Groupe Renault, Mahindra & Mahindra Limited, Nissan Motor Co. Ltd., Rivian Automotive Inc., Saic General Motors Corporation Limited, Scania AB, Tata Motors Limited, Volvo Group.
*Disclaimer: Major Players sorted in alphabetical order.
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Commercial Vehicles Market News
- August 2023: General Motors will launch an all-electric Cadillac Escalade in late 2024
- August 2023: General Motors doubles down on plans for an electric future in the Middle East.
- August 2023: Toyota Kirloskar Motor launched the all-new MPV Vellfire strong hybrid electric vehicle (SHEV) for a starting price of INR 11.99 million and going to INR 12.99 million.
Free with this Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
Commercial Vehicles Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.1.1. Africa
2.1.2. Asia-Pacific
2.1.3. Europe
2.1.4. Middle East
2.1.5. North America
2.1.6. South America
2.2. GDP Per Capita
2.2.1. Africa
2.2.2. Asia-Pacific
2.2.3. Europe
2.2.4. Middle East
2.2.5. North America
2.2.6. South America
2.3. Consumer Spending For Vehicle Purchase (cvp)
2.3.1. Africa
2.3.2. Asia-Pacific
2.3.3. Europe
2.3.4. Middle East
2.3.5. North America
2.3.6. South America
2.4. Inflation
2.4.1. Africa
2.4.2. Asia-Pacific
2.4.3. Europe
2.4.4. Middle East
2.4.5. North America
2.4.6. South America
2.5. Interest Rate For Auto Loans
2.6. Impact Of Electrification
2.7. EV Charging Station
2.8. Battery Pack Price
2.8.1. Africa
2.8.2. Asia-Pacific
2.8.3. Europe
2.8.4. Middle East
2.8.5. North America
2.8.6. South America
2.9. New Xev Models Announced
2.10. Logistics Performance Index
2.10.1. Africa
2.10.2. Asia-Pacific
2.10.3. Europe
2.10.4. Middle East
2.10.5. North America
2.10.6. South America
2.11. Fuel Price
2.12. Oem-wise Production Statistics
2.13. Regulatory Framework
2.14. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Vehicle Type
3.1.1. Commercial Vehicles
3.1.1.1. Heavy-duty Commercial Trucks
3.1.1.2. Light Commercial Pick-up Trucks
3.1.1.3. Light Commercial Vans
3.1.1.4. Medium-duty Commercial Trucks
3.2. Propulsion Type
3.2.1. Hybrid and Electric Vehicles
3.2.1.1. By Fuel Category
3.2.1.1.1. BEV
3.2.1.1.2. FCEV
3.2.1.1.3. HEV
3.2.1.1.4. PHEV
3.2.2. ICE
3.2.2.1. By Fuel Category
3.2.2.1.1. CNG
3.2.2.1.2. Diesel
3.2.2.1.3. Gasoline
3.2.2.1.4. LPG
3.3. Region
3.3.1. Africa
3.3.2. Asia-Pacific
3.3.2.1. Australia
3.3.2.2. China
3.3.2.3. India
3.3.2.4. Indonesia
3.3.2.5. Japan
3.3.2.6. Malaysia
3.3.2.7. South Korea
3.3.2.8. Thailand
3.3.2.9. Rest-of-APAC
3.3.3. Europe
3.3.3.1. Czech Republic
3.3.4. Middle East
3.3.5. North America
3.3.5.1. Canada
3.3.6. South America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. BAIC Motor Corporation Ltd.
4.4.2. BYD Auto Co. Ltd.
4.4.3. Daimler AG (Mercedes-Benz AG)
4.4.4. Dongfeng Motor Corporation
4.4.5. Ford Motor Company
4.4.6. General Motors Company
4.4.7. Groupe Renault
4.4.8. Mahindra & Mahindra Limited
4.4.9. Nissan Motor Co. Ltd.
4.4.10. Rivian Automotive Inc.
4.4.11. Saic General Motors Corporation Limited
4.4.12. Scania AB
4.4.13. Tata Motors Limited
4.4.14. Toyota Motor Corporation
4.4.15. Volkswagen AG
4.4.16. Volvo Group
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 3:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 4:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 5:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 6:
- GLOBAL COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 7:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 8:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 9:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 10:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 11:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 12:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 13:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 14:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 15:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 16:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 17:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 18:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 19:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 20:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 21:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 22:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 23:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 24:
- GLOBAL COMMERCIAL VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
- Figure 25:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 26:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 27:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 28:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 29:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 30:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 31:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 32:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 33:
- GLOBAL COMMERCIAL VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 34:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 35:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 36:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 37:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 38:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 39:
- GLOBAL COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 40:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 41:
- GLOBAL COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 42:
- GLOBAL COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2017 - 2030
- Figure 43:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 44:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 45:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 46:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 47:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2017 - 2030
- Figure 48:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2017 - 2030
- Figure 49:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 50:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 51:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 52:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 53:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 54:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 55:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 56:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 57:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2017 - 2030
- Figure 58:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 59:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 60:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 61:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 62:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 63:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 64:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 65:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 66:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 67:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 68:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 69:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 70:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 71:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 72:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 73:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 74:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 75:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 76:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 77:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 78:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 79:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 80:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 81:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 82:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 83:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 84:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 85:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 86:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CNG, BY VOLUME IN UNITS, 2017 - 2030
- Figure 87:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CNG, BY VALUE IN USD, 2017 - 2030
- Figure 88:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 89:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VOLUME IN UNITS, 2017 - 2030
- Figure 90:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VALUE IN USD, 2017 - 2030
- Figure 91:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 92:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 93:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VALUE IN USD, 2017 - 2030
- Figure 94:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 95:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LPG, BY VOLUME IN UNITS, 2017 - 2030
- Figure 96:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LPG, BY VALUE IN USD, 2017 - 2030
- Figure 97:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 98:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REGION, BY VOLUME IN UNITS, 2017 - 2030
- Figure 99:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REGION, BY VALUE IN USD, 2017 - 2030
- Figure 100:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 101:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 102:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 103:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 104:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 105:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 106:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 107:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY AUSTRALIA, BY VALUE IN USD, 2017 - 2030
- Figure 108:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 109:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CHINA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 110:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CHINA, BY VALUE IN USD, 2017 - 2030
- Figure 111:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 112:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 113:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
- Figure 114:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 115:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 116:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY INDONESIA, BY VALUE IN USD, 2017 - 2030
- Figure 117:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 118:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 119:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
- Figure 120:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 121:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 122:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MALAYSIA, BY VALUE IN USD, 2017 - 2030
- Figure 123:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 124:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 125:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2017 - 2030
- Figure 126:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 127:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY THAILAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 128:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY THAILAND, BY VALUE IN USD, 2017 - 2030
- Figure 129:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 130:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 131:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2017 - 2030
- Figure 132:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 133:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 134:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 135:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 136:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 137:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 138:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY AUSTRIA, BY VALUE IN USD, 2017 - 2030
- Figure 139:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 140:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2017 - 2030
- Figure 141:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY BELGIUM, BY VALUE IN USD, 2017 - 2030
- Figure 142:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 143:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 144:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2017 - 2030
- Figure 145:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 146:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY DENMARK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 147:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY DENMARK, BY VALUE IN USD, 2017 - 2030
- Figure 148:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 149:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 150:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY ESTONIA, BY VALUE IN USD, 2017 - 2030
- Figure 151:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 152:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FRANCE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 153:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY FRANCE, BY VALUE IN USD, 2017 - 2030
- Figure 154:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 155:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY GERMANY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 156:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY GERMANY, BY VALUE IN USD, 2017 - 2030
- Figure 157:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 158:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY IRELAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 159:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY IRELAND, BY VALUE IN USD, 2017 - 2030
- Figure 160:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 161:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY ITALY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 162:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY ITALY, BY VALUE IN USD, 2017 - 2030
- Figure 163:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 164:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LATVIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 165:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LATVIA, BY VALUE IN USD, 2017 - 2030
- Figure 166:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 167:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 168:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY LITHUANIA, BY VALUE IN USD, 2017 - 2030
- Figure 169:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 170:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY NORWAY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 171:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY NORWAY, BY VALUE IN USD, 2017 - 2030
- Figure 172:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 173:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY POLAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 174:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY POLAND, BY VALUE IN USD, 2017 - 2030
- Figure 175:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 176:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 177:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY RUSSIA, BY VALUE IN USD, 2017 - 2030
- Figure 178:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 179:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SPAIN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 180:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SPAIN, BY VALUE IN USD, 2017 - 2030
- Figure 181:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 182:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 183:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY SWEDEN, BY VALUE IN USD, 2017 - 2030
- Figure 184:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 185:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY UK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 186:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY UK, BY VALUE IN USD, 2017 - 2030
- Figure 187:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 188:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 189:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2017 - 2030
- Figure 190:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 191:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 192:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 193:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 194:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 195:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CANADA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 196:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY CANADA, BY VALUE IN USD, 2017 - 2030
- Figure 197:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 198:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MEXICO, BY VOLUME IN UNITS, 2017 - 2030
- Figure 199:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY MEXICO, BY VALUE IN USD, 2017 - 2030
- Figure 200:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 201:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY US, BY VOLUME IN UNITS, 2017 - 2030
- Figure 202:
- GLOBAL COMMERCIAL VEHICLES MARKET, BY US, BY VALUE IN USD, 2017 - 2030
- Figure 203:
- GLOBAL COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 204:
- GLOBAL COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 205:
- GLOBAL COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 206:
- GLOBAL COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Commercial Vehicles Industry Segmentation
Commercial Vehicles are covered as segments by Vehicle Type. Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- The development of the industrial sector in emerging economies and the increase of commercial logistics activities substantially impact the demand for commercial vehicles. Due to the growing demand for material transportation caused by the developing construction and e-commerce industries, commercial vehicle sales have recently grown. After declining by three million units in 2020, the output of commercial vehicles increased to roughly 23.2 million units in 2021, steadily regaining its previous level.
- As the majority of international borders are closed due to the COVID-19 pandemic, the commercial vehicle manufacturing industry's supply chain is expected to be disrupted for an extended period in 2021. This will have a negative impact on market growth. The COVID-19 pandemic brought the transportation sector to a halt, posing significant challenges for the freight and manufacturing industries in moving goods from one location to another.
- Due to increased demand for commercial vehicles, truck manufacturers have been introducing new advanced trucks to meet the rising demand and emission standards. Commercial vehicle leasing and the rental industry are also growing due to the increased demand for operational efficiencies and the realization of economies of scale by businesses across multiple industries. E-commerce has become an essential component of the global retail framework in recent years. Over 2 billion people purchased goods or services online in 2020, and global e-commerce sales surpassed USD 4.2 trillion in the same year. The overall commercial vehicle industry is expected to grow significantly in the near future.
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Market Definition
- Vehicle Type - The category covers light, medium, and heavy duty commercial vehicle.
- Vehicle Body Type - This includes Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks, Heavy-duty Commercial Trucks, and Medium and Heavy Duty Buses.
- Fuel Category - The category includes various fuel types such as Gasoline, Diesel, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas), HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles)
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | 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). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: 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 based on 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. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- 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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