Commercial Vehicle Market in Australia to Surpass $21 Billion Sales by 2022
Increasing infrastructure
developments and growing logistics and construction sectors to aid Australia
commercial vehicle market through 2022
According to TechSci Research report, “Australia
Commercial Vehicle Market Forecast &
Opportunities, 2022”, the market for commercial vehicles in Australia is projected to cross
$ 21 billion by 2021. Sectors such as transportation, logistics, construction
and mining are some of the major demand generators of commercial vehicles in the
country. Moreover, expanding product portfolio of leading companies coupled
with growing popularity of pickups are anticipated to aid the country’s commercial
vehicle market over the next five years.
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Commercial Vehicle Market"
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Australia commercial vehicle market has been broadly
segmented into three segments, namely, Light Commercial Vehicle (LCV), Medium
Commercial Vehicle (MCV) and Heavy Commercial Vehicle (HCV). Among these
categories, LCV segment dominated the country’s commercial vehicle market in
2016, and the same trend is expected to continue over the next five years as
well. Continuing growth in logistics industry along with increase in number of
Small and Medium Enterprises (SMEs) in Australia are expected to generate huge
demand for light commercial vehicles in the country during the forecast period.
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“The Government of Australia is constantly taking measures to boost the
country’s economic growth. Australian government launched the Australian
Logistics Council (ALC) 2016-2018 Strategic Plan with an aim to improve the
logistics supply chain efficiency. ALC is focussed on ensuring safe, secure,
reliable and competitive supply chain network in various industries such as
retail, manufacturing, mining, construction, energy and construction. All these
developments in the country are expected to aid Australia commercial vehicles
market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Australia
Commercial Vehicle Market Forecast & Opportunities, 2022” has analyzed the potential
of Australia 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.
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