Market Overview:
The global commercial vehicles market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The growth in this market can be attributed to the increasing demand for commercial vehicles from various end-use industries such as construction, industrial, oil & gas, and others. Additionally, the growing demand for electric and hybrid commercial vehicles is also propelling the growth of this market. On the basis of type, light duty trucks are expected to dominate the global commercial vehicles market during 2018-2030. This can be attributed to their low cost and easy maneuverability which makes them ideal for short distance transportation purposes.
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Product Definition:
Commercial vehicles are typically larger than passenger cars and are used to transport goods or materials. They can be either rigid trucks, which have a fixed cargo area, or articulated trucks, which have a hinged cab that allows the front and rear sections of the truck to articulate. Commercial vehicles are an important part of the transportation infrastructure and are essential for moving goods around cities and between states.
Light Duty:
Light duty is a general term for vehicles with low commercial weight (less than 8,500 lbs). The light-duty vehicle segment has witnessed significant growth in the past few years and this trend is expected to continue over the forecast period. This upsurge can be attributed to factors such as increasing demand for fuel-efficient vehicles, stringent emission norms and tax benefits offered to buyers.
Medium Duty:
Medium duty and it's usage in commercial vehicles (trucks) market is expected to witness significant growth over the forecast period. The demand for medium-duty trucks is projected to grow at a CAGR of XX% from 2016 to 2024. The growth can be attributed to the increasing number of e-commerce retailers, logistics companies, restaurants and food chains across the globe.
Application Insights:
The construction application segment led the global commercial vehicles market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing infrastructure development across various regions, including North America and Europe, which requires large number of trucks for material transportation. In addition, growing urbanization in developing countries including China and India is expected to drive the demand for heavy-duty trucks over the coming years.
The industrial application segment accounted for 29% of total revenue share in 2017 owing to rising demand from manufacturing sectors across various regions including Asia Pacific and Middle East & Africa. Growing industrial output coupled with improving economic conditions has resulted in an increased requirement of raw materials such as metals and minerals that are transported through bulk logistics by medium-duty trucks within a short span of time.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of increasing foreign investments coupled with rising disposable income. Growing demand for trucks in countries, such as China, India, Japan and South Korea is anticipated to drive regional growth over the forecast period.
The European market was valued at USD X billion in 2017 and is projected to witness steady growth over the coming years owing to stringent government regulations regarding fuel emissions along with other environmental factors are driving innovation among manufacturers which will result into higher sales volumes of commercial vehicles across Europe thereby boosting industry size.
Latin America held a significant share of global revenue due to high demand from oil & gas sector for heavy-duty trucks used for offshore activities across countries such as Brazil, Argentina and Venezuela which will have a positive impact on overall industry development.
Growth Factors:
- Increasing demand for goods and services across the globe is expected to drive the commercial vehicles market.
- The growth of e-commerce is anticipated to fuel the demand for commercial vehicles in the near future.
- Rising disposable income of consumers is likely to boost the sales of commercial vehicles in coming years.
- Proliferation of innovative technologies such as autonomous driving and electric propulsion systems is projected to create new opportunities for players operating in this market over the forecast period. 5) Stringent government regulations pertaining to emissions and safety are likely to propel the adoption of advanced technologies among manufacturers, which, in turn, would benefit growth prospects of this market over medium term
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Vehicles (Trucks) Market Research Report
By Type
Light Duty, Medium Duty, Heavy Duty
By Application
Construction, Industrial, Oil & Gas, Others
By Companies
Daimler, Volvo, Scania, Paccar, MAN, Navistar, Hino, Isuzu, Dongfeng, FAW, Daimler
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
172
Number of Tables & Figures
121
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Vehicles (Trucks) Market Report Segments:
The global Commercial Vehicles (Trucks) market is segmented on the basis of:
Types
Light Duty, Medium Duty, Heavy Duty
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Industrial, Oil & Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Daimler
- Volvo
- Scania
- Paccar
- MAN
- Navistar
- Hino
- Isuzu
- Dongfeng
- FAW
- Daimler
 Market Overview.svg)
Highlights of The Commercial Vehicles (Trucks) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Light Duty
- Medium Duty
- Heavy Duty
- By Application:
- Construction
- Industrial
- Oil & Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Vehicles (Trucks) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial vehicles are large, heavy trucks that are used for transporting goods. They can be used for transportation within a city or across a country.
Some of the major players in the commercial vehicles (trucks) market are Daimler, Volvo, Scania, Paccar, MAN, Navistar, Hino, Isuzu, Dongfeng, FAW, Daimler.
The commercial vehicles (trucks) market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Vehicles (Trucks) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Vehicles (Trucks) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Vehicles (Trucks) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Vehicles (Trucks) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Vehicles (Trucks) Market Size & Forecast, 2020-2028
4.5.1 Commercial Vehicles (Trucks) Market Size and Y-o-Y Growth
4.5.2 Commercial Vehicles (Trucks) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Light Duty
5.2.2 Medium Duty
5.2.3 Heavy Duty
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Industrial
6.2.3 Oil & Gas
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Vehicles (Trucks) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Vehicles (Trucks) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Light Duty
9.6.2 Medium Duty
9.6.3 Heavy Duty
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Industrial
9.10.3 Oil & Gas
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Light Duty
10.6.2 Medium Duty
10.6.3 Heavy Duty
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Industrial
10.10.3 Oil & Gas
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Light Duty
11.6.2 Medium Duty
11.6.3 Heavy Duty
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Industrial
11.10.3 Oil & Gas
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Light Duty
12.6.2 Medium Duty
12.6.3 Heavy Duty
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Industrial
12.10.3 Oil & Gas
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Light Duty
13.6.2 Medium Duty
13.6.3 Heavy Duty
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Industrial
13.10.3 Oil & Gas
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Vehicles (Trucks) Market: Competitive Dashboard
14.2 Global Commercial Vehicles (Trucks) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daimler
14.3.2 Volvo
14.3.3 Scania
14.3.4 Paccar
14.3.5 MAN
14.3.6 Navistar
14.3.7 Hino
14.3.8 Isuzu
14.3.9 Dongfeng
14.3.10 FAW
14.3.11 Daimler
