Global Commercial Vehicles Market Size study, by Product (Light Commercial Vehicles (LCVs), Heavy Trucks and Buses & Coaches), by End-use (Industrial, Mining & Construction, Logistics, Passenger Transportation and Others), and Regional Forecasts 2021-2027

Global Commercial Vehicles Market is valued approximately at USD 1.26 trillion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.32% over the forecast period 2021-2027. Rising trend of online shopping has increased the demand for logistics for which the demand for commercial vehicles is increasing. Growing number of construction activities, rising investment in infrastructure development and launch of electric commercial vehicles are fueling demand for commercial vehicles. For instance, according to Statista, Indian construction industry grew at a rate of 2.95% between 2010-15 which increased to 5.65% between 2015-2020. Also, in 2020, BYD Europe announced its plans to launch e-truck in European market. Furthermore, growth in e-commerce industry due to rising internet penetration and technological advancements towards developing light commercial vehicles are expected to grow the market in coming years. According to Our World in Data, broadband subscriptions per 100 people around the world has increased from 8.98 in 2011 to 15.68 in 2019. However, high cost of commercial vehicles is expected to hinder the growth during forecast period.    

North America is leading the market in terms of market revenue among Asia Pacific, North America, Europe, Latin America, and Rest of the World, due to highly unified supply chain network and availability of convenient financing options in the region. Whereas, Asia Pacific is expected to grow at the fastest pace during forecast period, owing to strengthening road infrastructure and rising number of manufacturing facilities.
 

Major market player included in this report are: 
Ashok Leyland           
Bosch Rexroth AG
Daimler
Volkswagen AG
Toyota Motor Corporation
Mahindra and Mahindra
Tata Motors
AB Volvo
Golden Dragon
General Motors                  

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. 

The detailed segments and sub-segment of the market are explained below:

By Product:
Light Commercial Vehicles (LCVs)
Heavy Trucks
Buses & Coaches

By End-use:
Industrial
Mining & Construction
Logistics
Passenger Transportation
Others
 

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia 
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Commercial Vehicles Market  in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors