Press Release

Small Commercial Vehicle Market to Cross $820 billion by 2021

Growing demand from Small and Medium Enterprise (SMEs), e-commerce and logistics industries coupled with favorable government initiatives to drive global small commercial vehicle market through 2021

According to TechSci Research report, Global Small Commercial Vehicle Market By Vehicle Type, By Region, Competition Forecast & Opportunities, 2011 - 2021”, the global market of small commercial vehicle is projected to cross US$ 820 billion by 2021, owing to increasing internet penetration and growing e-commerce industry, consumers across the globe prefer to purchase products through online channels. Items purchased through online channels are delivered through small commercial vehicles. Increasing number of small and medium enterprises (SMEs) is another major factor aiding growth in global small commercial vehicle market. SME industry primarily requires small commercial vehicles for intercity transporting goods and raw materials. Demand for small commercial vehicles across the globe can be attributed to growing demand for transportation of products being manufactured by small and medium scale industries.

Browse 43 market data Tables and 100 Figures spread through 247 Pages and an in-depth TOC on "Global Small Commercial Vehicle Market"

During 2011 – 2015, automobile production and sales across the globe grew at a CAGR of 1.37% and 2.59%, respectively, owing to Eurozone crisis and slump in crude oil prices. Backed by slow automobile production and sales over the last five years, global market for small commercial vehicles grew at a slow pace during 2011 – 2015. However, with anticipated revival of crude oil prices in coming years, the scenario is expected to change, and the global small commercial vehicle market is forecast to grow at a healthy pace over the next five years.

North America dominated global small commercial vehicle market during 2011 – 2015, and the region is anticipated to maintain its dominance over the next five years as well. Over the years, demand for small commercial vehicles in North America has been growing at a robust pace due to increasing infrastructure-based developments and booming construction and logistics sectors. Moreover, small commercial vehicles are popular in North American countries due to immense preference for pickup trucks in the region. Vans are extensively being used for transportation of goods by e-commerce and delivery companies as well as for personal and staff transportation purposes.

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“Constant increase in demand for small commercial vehicles, especially pickups, across the globe are encouraging leading industry players such as Toyota, Ford, Nissan, Mitsubishi, Mazda, etc., to introduce new models. Growing acceptance of pickups for transportation and personal purposes are propelling production of pickups with advanced features such as four-wheel drive, increased load carrying capacity, high utilitarianism, etc., globally. On the other hand, major Chinese automobile companies are offering stiff competition to global automobile leaders in small commercial vehicles segment, especially light trucks and vans.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Small Commercial Vehicle Market By Vehicle Type, By Region, Competition Forecast & Opportunities, 2011 - 2021 has analyzed the potential of global small commercial vehicle market, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry. 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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