Commercial Vehicle Market Size 2019 Global Industry – Key Players, Size, Trends, Opportunities, Growth Analysis and Forecast to 2025
Brandessenceresearch.com Adds “Commercial
Vehicle Market 2019 Industry Demand, Growth, Opportunities, Manufacturers,
Analysis of Top Key Players and Forecast to 2025” To Its Research Database.
Description:
Commercial Vehicle Market: Global Size,
Trends, Competitive, Historical & Forecast Analysis, 2018-2024 – Increased use of Telematics and Connectivity
Services are the Driving Factor for Commercial Vehicle Market.
Commercial Vehicle Market is valued at USD
1336.59 Billion in 2017 and expected to reach USD 2094.85 Billion by 2024 with
the CAGR of 6.63% over the forecast period.
Commercial vehicle market
consists of vehicles which are specially used for purpose like transporting
goods and services from one place to another and get paid for the transporting
services. Many types of commercial vehicles are used for transporting raw
materials from mines area, products from industry to market, people from one
place to another. Commercial vehicles include mini trucks, pickup trucks, mini
and large buses, coaches, lorries, light trucks, heavy trucks, trailers, and
semi-trailers. A vehicle may be called as a commercial vehicle if it belongs to
a corporation, is used for business, is a leased vehicle, having weight rating
of more than 26,001 pounds or used to transport hazardous material.
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Commercial
vehicle market is segmented on the basis of vehicle type, by fuel and by
end-use type. On the basis of vehicle type it is divided in to light duty
(ex-minivan, sport utility vehicle, pick-up truck, panel truck etc.), medium
duty and heavy-duty vehicles. By fuel type the commercial vehicle market is
classified in to petrol, diesel and others. On the basis of end-use the market
is divided in to industrial vehicles, mining and construction heavy vehicles,
logistics, passenger transportation.
The
regions covered in this Commercial vehicle Market report are North America,
Europe, Asia-Pacific and Rest of the World. On the basis of country level,
market of Commercial vehicle is sub divided into U.S., Mexico, Canada, UK,
France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key
Players for Global Commercial vehicle Market Reports
Global
Commercial vehicle market report covers prominent players like Daimler, Eicher,
Ford Motor, Hyundai Motor, King Long United Automotive Industry Co. Ltd, MAN
Truck and Bus, Mitsubishi Fuso Truck and Bus Corporation, Peugeot Citroen,
Renault, SML Isuzu, Tata Motors, Toyota Motors, Volvo Trucks Corporation and
Volvo Bus
Increased
Use of Telematics and Connectivity Services are the Driving Factor for
Commercial Vehicle Market.
The
development factors of commercial vehicle market were related to growth of
global market, economic expansion, but these factors are having less effect due
to new driving factors like integration of telematic services, demand for
specific transport solutions, and rising popularity of fleet sharing are key to
this market. Due to new telematics and connectivity operations, the
manufacturers have introduced vehicles installed with connected services like
weather reports, accident warnings, traffic data, update on roadworks etc.
Connected vehicles provide benefits like enhanced safety, prevention of
unauthorized access etc. another driving factor is growing demand of developing
countries for commercial vehicles, which are being used in transport of
construction materials, tourism, transportation of products and so on. The
other driving factors are rise in e-commerce and logistics sector, rising
demand of alternative fuel based commercial vehicles, increasing demand for
mining trucks and so on. Rising air pollution levels are causing governing
bodies to upgrade vehicular emissions regulations for commercial vehicles on
intervals less than a year. The main restraint for this market is
increasing regulation by the government body on vehicular emissions to restrict
rising pollution level, which in turn impacts the market as the manufactures
have to change their market strategy accordingly and cannot sell their old
models.
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North
America is expected to dominate the Commercial Vehicle Market
The
global commercial vehicle market is expected to grow at a CAGR of 6.63%. North
America was the leading region for the global commercial vehicle
market in 2017, accounting for a market share of nearly 41%. The
north America captured largest share of revenue and volume of the market.
The positive growth is due to increase in financing options, increase in
infrastructure investment and government focus on automotive heavy vehicle. Due
to demand of vehicles in Canada and Mexico the markets growth rate is higher in
these countries comparing to USA. The Asia pacific region is estimated to have
highest CAGR of more than 7.6% over the forecast period. The development road
infrastructure, rising manufacturing facilities with cost effective labor and
raw materials in developing countries like china, India are expected to
contribute in growth. The Europe and MEA will experience moderate growth with
rise in industrialization.
Key
Benefits for Global Commercial Vehicle Market Reports
·
Global
market report covers in depth historical and forecast analysis.
·
Global
market research report provides detail information about Market Introduction,
Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market
Restraints, Market opportunities, Competitive Analysis, Regional and Country
Level.
·
Global
market report helps to identify opportunities in market place.
·
Global
market report covers extensive analysis of emerging trends and competitive
landscape.
Commercial
vehicle Market Segmentation
By
Product
·
Light
duty vehicles
·
Medium
duty vehicles
·
Heavy-duty
vehicles
By
Fuel
·
Diesel
·
Petrol
·
Others
By
End-use
·
Industrial
·
Mining
& Construction
·
Logistics
·
Passenger
Transportation
·
Others
By
Region
·
North
America
·
U.S.
·
Canada
·
Europe
·
U.K.
·
France
·
Germany
·
Italy
·
Asia
Pacific
·
China
·
Japan
·
India
·
Southeast
Asia
·
Latin
America
·
Brazil
·
Mexico
·
Middle
East and Africa
·
GCC
·
Africa
·
Rest
of Middle East and Africa
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Continued…
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