Global Commercial Vehicles Market By Vehicle Type (Light Commercial Vehicles (LCVs), Heavy Trucks, Buses & Coaches), By Application Type (Industrial, Mining & Construction, Logistics, Passenger Transportation, Others) By Propulsion Type (Electric Vehicle, Hybrid Electric Vehicle, Natural Gas Vehicle, Fuel Cell Electric Vehicle, Diesel Vehicle, Petrol Vehicle), By Region, Competition, Forecast & Opportunities, 2028

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 1,300 Billion

CAGR (2023-2028)

5.4%

Fastest Growing Segment

Light Commercial Vehicle

Largest Market

Asia Pacific


Market Overview

Global Commercial Vehicles Market has valued at USD 1,300 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.4% through 2028. The Global Commercial Vehicle Market, characterized by its vital role in global trade, transportation, and infrastructure, encompasses an array of vehicles tailored for industrial and commercial applications. This dynamic market is defined by its diverse propulsion types, each reflecting the industry's response to environmental, economic, and technological trends. Electric vehicles (EVs) are at the forefront of the market's evolution, driven by the imperative to reduce emissions and embrace sustainable mobility solutions. Electric commercial vehicles (eCVs), including trucks and vans, are gaining traction as governments and industries champion cleaner urban logistics. Hybrid electric vehicles (HEVs) strategically combine conventional engines with electric components, delivering improved fuel efficiency while offering the versatility needed for varying applications. In response to emissions concerns, natural gas vehicles (NGVs) offer an alternative fuel source, utilizing compressed or liquefied natural gas to lower emissions particularly in heavy-duty applications. Fuel cell electric vehicles (FCEVs) use hydrogen fuel cells to generate electricity, contributing to a zero-emission future by emitting only water vapor. Diesel vehicles, once prominent for their efficiency, confront emissions regulations, nudging manufacturers towards cleaner technologies. Petrol vehicles, propelled by gasoline, remain prevalent in specific contexts. This segmentation exemplifies the commercial vehicle market's pivot towards sustainability, where technological innovations converge with environmental consciousness. As the industry embraces electrification, hybridization, and alternative fuels, it navigates the intricate balance between economic efficiency, environmental stewardship, and meeting diverse commercial needs. Commercial vehicles, spanning trucks, vans, buses, and specialized transport, act as a lifeline for economies, infrastructure development, and trade. As the market advances, electric and alternative fuel options are becoming pivotal, reshaping how goods are transported, services are provided, and environmental impact is minimized across the spectrum of commercial applications.

Key Market Drivers

Economic Growth and Trade

Commercial vehicles are essential for the movement of goods and services within and across borders. Economic growth and global trade drive demand for transportation, influencing the sales and production of commercial vehicles.

Urbanization and Infrastructure Development

As urban populations grow, demand for public transportation services and last-mile delivery solutions increases. This trend prompts investments in buses, vans, and specialized vehicles to support urban mobility and infrastructure projects.

Technological Advancements

Similar to the passenger car market, technological innovation is reshaping the commercial vehicle industry. Advanced features such as telematics, connectivity, safety systems, and fuel-efficient drivetrains enhance operational efficiency and safety.

 

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Key Market Challenges

Emission Regulations and Policies

Stricter emissions standards have led manufacturers to explore cleaner drivetrain options, including electric, hybrid, and hydrogen-powered commercial vehicles.

Infrastructure development

The adoption of electric commercial vehicles requires the development of charging infrastructure, particularly for heavy-duty applications. Also, many construction projects are increasing demand for heavy trucks and commercial vehicles across many regions. Overall, this increases the demand for commercial vehicles globally.

Operational Costs

Fuel costs, maintenance expenses, and regulatory compliance impact the total cost of ownership for commercial vehicles. Manufacturers focus on improving fuel efficiency and reducing maintenance requirements.

Key Market Trends

Electric Commercial Vehicles (eCVs)

Similar to the passenger car market, electric commercial vehicles (eCVs) are gaining traction. Emissions concerns and advancements in battery technology are pushing manufacturers to develop electric trucks and vans for sustainable urban transportation and delivery.

Connectivity and Fleet Management

Telematics and connectivity solutions enable fleet managers to monitor vehicle performance, optimize routes, and improve operational efficiency. These technologies enhance driver safety, reduce fuel consumption, and minimize downtime.

Autonomous Commercial Vehicles

Self-driving technology is making inroads into the commercial vehicle market. Autonomous trucks and delivery vehicles have the potential to increase efficiency, reduce driver fatigue, and address driver shortages.

Segmental Insights

Vehicle Type Segment:

Trucks form a significant segment, ranging from light-duty trucks used for local deliveries to heavy-duty trucks employed in long-haul transportation. Various configurations, such as flatbeds, tankers, and refrigerated trucks, cater to diverse cargo needs. Light commercial vehicles are versatile vehicles used for a range of purposes, including delivery, passenger transport, and utility services. The rise of e-commerce has driven the demand for delivery Light commercial vehicles to meet the needs of online shopping and last-mile logistics. Furthermore, Buses serve public transportation needs, offering solutions for urban, intercity, and long-distance travel. Advancements in hybrid and electric technologies are transforming the bus segment toward greener and more sustainable options.

Propulsion Type Insights

The Global Commercial Vehicle Market, segmented by propulsion types, is undergoing a profound transformation as the industry pivots towards more sustainable and efficient transportation solutions. Electric vehicles (EVs) are emerging as a pivotal segment, driven by environmental concerns and advancements in battery technology. Electric commercial vehicles (eCVs) are gaining momentum as governments and industries emphasize reducing emissions in logistics and urban transport. Hybrid electric vehicles (HEVs) are also influential, combining internal combustion engines with electric propulsion to enhance fuel efficiency and reduce emissions, catering to applications requiring both versatility and reduced environmental impact. Natural gas vehicles (NGVs) leverage compressed or liquefied natural gas as a cleaner alternative fuel, contributing to lower emissions, particularly in heavy-duty applications like buses and trucks. Fuel cell electric vehicles (FCEVs) are another segment driving change, using hydrogen fuel cells to generate electricity, emitting only water vapor as exhaust. Diesel vehicles, once synonymous with commercial transportation, face challenges due to emissions regulations, prompting manufacturers to explore cleaner alternatives. Petrol vehicles, powered by gasoline, remain a staple in some markets, offering familiarity and convenience. This segmentation underscores the market's endeavor to align with sustainability goals, where electric, hybrid, and alternative fuel vehicles such as NGVs and FCEVs are shaping the future of commercial transportation by addressing emissions, fuel efficiency, and evolving consumer demands.

 

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Regional Insights

The North America region has a strong heavy duty vehicle culture, with a focus on long-haul transportation. The demand for more fuel-efficient trucks, regulations, and the integration of technology are key drivers. In addition, Europe emphasizes fuel efficiency, environmental regulations, and urban mobility. The European Union's stringent emissions targets encourage the adoption of eCVs and alternative fuels. Furthermore, Asia Pacific is a hub for commercial vehicle manufacturing and sales. The growth of e-commerce and urbanization fuels the demand for delivery vans and buses.

Recent Developments

  • Tata Motors announced in December 2022 that it had entered into a definitive contract with its wholly owned subsidiary, Bhatnagar Metropolitan Transport Corporation Inc. (BMTC), to operate nine hundred and twenty-one (921) electric buses in Bengaluru.
  • In August 2022, M&M, a subsidiary of M&M, announced a significant collaboration with the Volkswagen Group, with the two companies signing a term sheet for an expansion of their collaboration, with a particular focus on the provision of electric components for M&M's MEB electric platform, known as INGLO, to Mahindra.
  • In March 2022, TRATON Group, a subsidiary of TRATON Motors, joined forces with Daimler Trucks, a subsidiary of Volvo Group, to provide commercial vehicles.

Key Market Players

·         Ashok Leyland

·         Bosch Rexroth AG

·         Daimler

·         Volkswagen AG

·         Toyota Motor Corporation

·         Mahindra and Mahindra

·         TATA Motors

·         AB Volvo

·         Golden Dragon

·         General Motors

 By Vehicle Type

By Application Type

By Propulsion Type

 By Region
  • Light Commercial Vehicles (LCVs)
  • Heavy Trucks
  • Buses & Coaches
  • Industrial
  • Mining & Construction
  • Logistics
  • Passenger Transportation
  • Others
  • Electric Vehicle
  • Hybrid Electric Vehicle
  • Natural Gas Vehicle
  • Fuel Cell Electric Vehicle
  • Diesel Vehicle
  • Petrol Vehicle
  • Asia-Pacific
  • Europe & CIS
  • North America
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Commercial Vehicles Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Commercial Vehicles Market, By Vehicle Type:

o   Light Commercial Vehicles (LCVs)

o   Heavy Trucks

o   Buses & Coaches

  • Global Commercial Vehicles Market, By Application Type:

o   Industrial

o   Mining & Construction

o   Logistics

o   Passenger Transportation

o   Others

  • Global Commercial Vehicles Market, By Propulsion Type:

o   Electric Vehicle

o   Hybrid Electric Vehicle

o   Natural Gas Vehicle

o   Fuel Cell Electric Vehicle

o   Diesel Vehicle

o   Petrol Vehicle

  • Global Commercial Vehicles Market, By Region:

o   Asia-Pacific

o   Europe & CIS

o   North America

o   South America

o   Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Commercial Vehicles Market.

Available Customizations:

Global Commercial Vehicles Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Commercial Vehicles Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]                

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Commercial Vehicles Market

5.    Global Commercial Vehicles Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.1.2.    By Volume

5.2.  Market Share & Forecast

5.2.1.    By Vehicle Type Market Share Analysis (Light Commercial Vehicles (LCVs), Heavy Trucks, Buses & Coaches)

5.2.2.    By Application Type (Industrial, Mining & Construction, Logistics, Passenger Transportation, Others)

5.2.3.    By Propulsion Type (Electric Vehicle, Hybrid Electric Vehicle, Natural Gas Vehicle, Fuel Cell Electric Vehicle, Diesel Vehicle, Petrol Vehicle)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        Asia-Pacific Market Share Analysis

5.2.4.2.        Europe & CIS Market Share Analysis

5.2.4.3.        North America Market Share Analysis

5.2.4.4.        South America Market Share Analysis

5.2.4.5.        Middle East & Africa Market Share Analysis

5.2.5.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global Commercial Vehicles Market Mapping & Opportunity Assessment

5.3.1.    By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.    By Application Type Market Mapping & Opportunity Assessment

5.3.3.    By Propulsion Type Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Commercial Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.1.2.    By Volume

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type Market Share Analysis

6.2.2.    By Application Type Market Share Analysis

6.2.3.    By Propulsion Type Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Commercial Vehicle Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.1.2.           By Volume

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Vehicle Type Market Share Analysis

6.3.1.2.2.           By Application Type Market Share Analysis

6.3.1.2.3.           By Propulsion Type Market Share Analysis

6.3.2.    India Commercial Vehicle Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.1.2.           By Volume

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Vehicle Type Market Share Analysis

6.3.2.2.2.           By Application Type Market Share Analysis

6.3.2.2.3.           By Propulsion Type Market Share Analysis

6.3.3.    Japan Commercial Vehicle Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.1.2.           By Volume

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Vehicle Type Market Share Analysis

6.3.3.2.2.           By Application Type Market Share Analysis

6.3.3.2.3.           By Propulsion Type Market Share Analysis

6.3.4.    Indonesia Commercial Vehicle Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value

6.3.4.1.2.           By Volume

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Vehicle Type Market Share Analysis

6.3.4.2.2.           By Application Type Market Share Analysis

6.3.4.2.3.           By Propulsion Type Market Share Analysis

6.3.5.    Thailand Commercial Vehicle Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value

6.3.5.1.2.           By Volume

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Vehicle Type Market Share Analysis

6.3.5.2.2.           By Application Type Market Share Analysis

6.3.5.2.3.           By Propulsion Type Market Share Analysis

6.3.6.    South Korea Commercial Vehicle Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value

6.3.6.1.2.           By Volume

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Vehicle Type Market Share Analysis

6.3.6.2.2.           By Application Type Market Share Analysis

6.3.6.2.3.           By Propulsion Type Market Share Analysis

6.3.7.    Australia Commercial Vehicle Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value

6.3.7.1.2.           By Volume

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Vehicle Type Market Share Analysis

6.3.7.2.2.           By Application Type Market Share Analysis

6.3.7.2.3.           By Propulsion Type Market Share Analysis

7.    Europe & CIS Commercial Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.1.2.    By Volume

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type Market Share Analysis

7.2.2.    By Application Type Market Share Analysis

7.2.3.    By Propulsion Type Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Commercial Vehicle Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.1.2.           By Volume

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Vehicle Type Market Share Analysis

7.3.1.2.2.           By Application Type Market Share Analysis

7.3.1.2.3.           By Propulsion Type Market Share Analysis

7.3.2.    Spain Commercial Vehicle Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.1.2.           By Volume

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Vehicle Type Market Share Analysis

7.3.2.2.2.           By Application Type Market Share Analysis

7.3.2.2.3.           By Propulsion Type Market Share Analysis

7.3.3.    France Commercial Vehicle Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.1.2.           By Volume

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Vehicle Type Market Share Analysis

7.3.3.2.2.           By Application Type Market Share Analysis

7.3.3.2.3.           By Propulsion Type Market Share Analysis

7.3.4.    Russia Commercial Vehicle Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.1.2.           By Volume

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Vehicle Type Market Share Analysis

7.3.4.2.2.           By Application Type Market Share Analysis

7.3.4.2.3.           By Propulsion Type Market Share Analysis

7.3.5.    Italy Commercial Vehicle Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.1.2.           By Volume

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Vehicle Type Market Share Analysis

7.3.5.2.2.           By Application Type Market Share Analysis

7.3.5.2.3.           By Propulsion Type Market Share Analysis

7.3.6.    United Kingdom Commercial Vehicle Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value

7.3.6.1.2.           By Volume

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Vehicle Type Market Share Analysis

7.3.6.2.2.           By Application Type Market Share Analysis

7.3.6.2.3.           By Propulsion Type Market Share Analysis

7.3.7.    Belgium Commercial Vehicle Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value

7.3.7.1.2.           By Volume

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Vehicle Type Market Share Analysis

7.3.7.2.2.           By Application Type Market Share Analysis

7.3.7.2.3.           By Propulsion Type Market Share Analysis

8.    North America Commercial Vehicle Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.1.2.    By Volume

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type Market Share Analysis

8.2.2.    By Application Type Market Share Analysis

8.2.3.    By Propulsion Type Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Commercial Vehicle Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.1.2.           By Volume

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Vehicle Type Market Share Analysis

8.3.1.2.2.           By Application Type Market Share Analysis

8.3.1.2.3.           By Propulsion Type Market Share Analysis

8.3.2.    Mexico Commercial Vehicle Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.1.2.           By Volume

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Vehicle Type Market Share Analysis

8.3.2.2.2.           By Application Type Market Share Analysis

8.3.2.2.3.           By Propulsion Type Market Share Analysis

8.3.3.    Canada Commercial Vehicle Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.1.2.           By Volume

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Vehicle Type Market Share Analysis

8.3.3.2.2.           By Application Type Market Share Analysis

8.3.3.2.3.           By Propulsion Type Market Share Analysis

9.    South America Commercial Vehicle Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.1.2.    By Volume

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type Market Share Analysis

9.2.2.    By Application Type Market Share Analysis

9.2.3.    By Propulsion Type Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Commercial Vehicle Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.1.2.           By Volume

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Vehicle Type Market Share Analysis

9.3.1.2.2.           By Application Type Market Share Analysis

9.3.1.2.3.           By Propulsion Type Market Share Analysis

9.3.2.    Colombia Commercial Vehicle Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.1.2.           By Volume

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Vehicle Type Market Share Analysis

9.3.2.2.2.           By Application Type Market Share Analysis

9.3.2.2.3.           By Propulsion Type Market Share Analysis

9.3.3.    Argentina Commercial Vehicle Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.1.2.           By Volume

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Vehicle Type Market Share Analysis

9.3.3.2.2.           By Application Type Market Share Analysis

9.3.3.2.3.           By Propulsion Type Market Share Analysis

10.  Middle East & Africa Commercial Vehicle Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.1.2. By Volume

10.2.             Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Application Type Market Share Analysis

10.2.3. By Propulsion Type Market Share Analysis

10.2.4. By Country Market Share Analysis

10.3.             Middle East & Africa: Country Analysis

10.3.1. Turkey Commercial Vehicle Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.1.2.         By Volume

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Vehicle Type Market Share Analysis

10.3.1.2.2.         By Application Type Market Share Analysis

10.3.1.2.3.         By Propulsion Type Market Share Analysis

10.3.2. Iran Commercial Vehicle Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.1.2.         By Volume

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Vehicle Type Market Share Analysis

10.3.2.2.2.         By Application Type Market Share Analysis

10.3.2.2.3.         By Propulsion Type Market Share Analysis

10.3.3. Saudi Arabia Commercial Vehicle Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.1.2.         By Volume

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Vehicle Type Market Share Analysis

10.3.3.2.2.         By Application Type Market Share Analysis

10.3.3.2.3.         By Propulsion Type Market Share Analysis

10.3.4. UAE Commercial Vehicle Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.1.2.         By Volume

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Vehicle Type Market Share Analysis

10.3.4.2.2.         By Application Type Market Share Analysis

10.3.4.2.3.         By Propulsion Type Market Share Analysis

11.  SWOT Analysis

11.1.             Strength

11.2.             Weakness

11.3.             Opportunities

11.4.             Threats

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.             Company Profiles (Up to 10 Major Companies)

14.1.1. Ashok Leyland

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Recent Developments

14.1.1.4.     Key Management Personnel

14.1.2. Bosch Rexroth AG

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Recent Developments

14.1.2.4.     Key Management Personnel

14.1.3. Daimler

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Recent Developments

14.1.3.4.     Key Management Personnel

14.1.4. Volkswagen AG

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Recent Developments

14.1.4.4.     Key Management Personnel

14.1.5. Toyota Motor Corporation

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Recent Developments

14.1.5.4.     Key Management Personnel

14.1.6. Mahindra and Mahindra

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Recent Developments

14.1.6.4.     Key Management Personnel

14.1.7. TATA Motors

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Recent Developments

14.1.7.4.     Key Management Personnel

14.1.8. AB Volvo

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Recent Developments

14.1.8.4.     Key Management Personnel

14.1.9. General Motors

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Recent Developments

14.1.9.4.     Key Management Personnel

14.1.10.              Xiamen Golden Dragon Bus Co. Ltd

14.1.10.1.  Company Details

14.1.10.2.  Key Product Offered

14.1.10.3.  Recent Developments

14.1.11.              Volkswagen AG

14.1.11.1.  Company Details

14.1.11.2.  Key Product Offered

14.1.11.3.  Recent Developments

15.  Strategic Recommendations

15.1.             Key Focus Areas

15.1.1. Target Regions & Countries

15.1.2. Target Vehicle Type

15.1.3. Target Application Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Commercial Vehicles Market was estimated to be USD 1,300 billion in 2022.

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The Light commercial Vehicles segment dominates the Global Commercial Vehicles Market, accounting for the majority of share due to its usability and multiple applications among consumers. It is also expected to grow even further in the coming years.

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On a regional basis, the Asia-Pacific region dominates the Global Commercial Vehicles Market, driven by huge upcoming infrastructure projects in developing countries in Asia Pacific Region.

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The major drivers for the Global Commercial Vehicles Market include Economic Growth and Trade, Urbanization and Infrastructure Development, Technological Advancements etc.

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Srishti Verma

Business Consultant
Press Release

Global Commercial Vehicles Market to be Led by Light Commercial Vehicles (LCVs) through 2028

Oct, 2023

The major drivers for the Global Commercial Vehicles Market include increasing sales of light commercial vehicle are expected to drive the market in forecast period.

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