Commercial vehicles are a kind of motor vehicles which are used for transportation of goods or fare-paying passengers. The global commercial vehicle market is expected to grow significantly owing to the increasing transportation industry and increasing construction activity.
MARKET SCOPE
The "Global Commercial vehicle Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the commercial vehicle market with detailed market segmentation by product, end-user, and geography. The report provides key statistics on the market status of the leading commercial vehicle market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- The global commercial vehicle market is segmented on the basis of product, and end-user.
- On the basis of product, the market is segmented buses and coaches, LCVs, and heavy trucks.
- Based on end user the market is segmented as industrial, mining and construction, logistics, transportation, and others.
MARKET DYNAMICS
Drivers:
- Increasing e-commerce activities, expansion of industrial sectors, and the development of logistics are the major factors that are expected to drive the growth of this market.
Restraints:
- Inability to move heavy loads for transportation may restrain the growth of the light commercial vehicle market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The commercial vehicle market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the commercial vehicle market in these regions.
IMPACT OF COVID-19 ON COMMERCIAL VEHICLE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the commercial vehicle market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Commercial vehicle market market are anticipated to lucrative growth opportunities in the future with the rising demand for Commercial vehicle market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the commercial vehicle market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AB Volvo
- Ashok Leyland
- Bosch Rexroth Corporation
- Daimler AG.
- Hino Motors
- Mahindra and Mahindra
- MAN
- PACCAR Inc.
- Toyota Motor Corporation
- Volkswagen AG