Press Release

UK Light Commercial Vehicles Market to Cross $ 19 Billion by 2023

Growing tourism and e-commerce industries coupled with rising number of small and medium enterprises to fuel growth in UK light commercial vehicles market through 2023

According to TechSci Research report, United Kingdom Light Commercial Vehicles Market By Vehicle Type, By Tonnage Type, By Fuel Type, Competition Forecast & Opportunities, 2013–2023, UK light commercial vehicles market is forecast to surpass $ 19 billion by 2023 on account of growing e-commerce sector and tourism industry across the country. Moreover, domestic manufacturing is increasing in the United Kingdom, which is likely to boost demand for light commercial vehicles in the country over the next five years. Additionally, rising number of small and medium enterprises is further anticipated to positively influence United Kingdom light commercial vehicles market. Among fuel type, the diesel segment dominates United Kingdom light commercial vehicles market. However, with rising demand for alternative fuel, other segments such as hybrid and LPD are likely to gain traction in the coming years.

Browse 53 market data Figures and Tables spread through 85 Pages and an in-depth TOC on " United Kingdom Light Commercial Vehicles Market"

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In 2017, Above 2.5 Ton - 3.5 Ton segment of light commercial vehicles accounted for the largest share in the market. The segment is expected to continue its market dominance during forecast period as well on the back of a wide range of product portfolio in 2.5-3.5-ton segment, due to its extensive application across different sectors such as in logistics, goods distribution, etc. Moreover, vehicles of this tonnage capacity can easily carry heavy load, which make them a preferable choice in construction sector. During the forecast period, this segment is anticipated to draw attention from major global light commercial vehicle manufacturers.

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“Rising availability of financing options along with growing per capita income is likely to fuel growth in United Kingdom light commercial vehicles market until 2023. Moreover, a number of international brands are entering the market, offering a wide array of products which is further anticipated to aid the growth of the market. Furthermore, increasing application of light commercial vehicles due to growth in different sectors such as manufacturing, retail, etc., would further steer growth in United Kingdom light commercial vehicles market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

United Kingdom Light Commercial Vehicles Market By Vehicle Type, By Tonnage Type, By Fuel Type, Competition Forecast & Opportunities, 2013–2023 has evaluated future growth potential of United Kingdom light commercial vehicles market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the 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 United Kingdom light commercial vehicles market.

About TechSci Research

TechSci Research is a leading global market research firm publishing commercial Vehicles research reports. Serving 700 global clients with more than 600 light Commercial Vehicles 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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Relevant Reports

United Kingdom Light Commercial Vehicles Market By Vehicle Type (Passenger Car, Cargo Van, Pickup Van, etc.), By Tonnage Type (>2.5-3.5 Tons, >2-2.5 Tons, etc.), By Fuel Type (Diesel, Petrol & Others), Competition Forecast & Opportunities, 2013–2023

Automotive | Nov, 2018

Growing tourism and e-commerce industries coupled with rising number of small and medium enterprises to fuel growth in UK light commercial vehicles market through 2023

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