"Global Commercial Vehicles Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global commercial vehicles market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global commercial vehicles market report has been segmented on the basis of product, end use, and region.
A commercial vehicle is a motor vehicle used for transportation of passengers or goods. Commercial vehicles include pickup trucks, semi-trucks, box trucks, trailers, taxicabs, coaches, vans, buses, and travel trailers.
Increasing spending on construction and industrial sector coupled with growing manufacturing industry are major factors expected to drive revenue growth of the commercial vehicles market over the forecast period. Growing travel & tourism sector across the globe is expected to support revenue growth of global commercial vehicles market. Moreover, the launch of semi-autonomous commercial vehicles and electric vehicles is expected to boost revenue growth of the target market.
Furthermore, growing number of R&D and technological advancements in the development of commercial vehicles is expected to create an opportunity for manufacturers to grow their revenue share in the global target market.
However, growing awareness regarding the alternative source for transportation is expected to restrain revenue growth of target market over the forecast period.
On the basis of product, the light commercial vehicles or LCV segment is expected to account significant revenue share in the global commercial vehicles market. Increasing demand for light commercial vehicles for passenger transportation and logistics application is expected to support revenue growth of this segment over the forecast period.
End Use Insights:
On the basis of end use, the logistics segment is expected to account major revenue share in the global target market and expected to grow at a moderate rate over the forecast period. Growing demand for transportation in various industry verticals such as manufacturing, automotive, construction, pharmaceuticals, and others is expected to boost revenue growth for the target market.
North America market is expected to account major revenue share in the global commercial vehicles market. Increasing number of construction activities in the region is expected to drive revenue growth of North America commercial vehicles market over the forecast period. Growing transportation industry in the region is expected to drive revenue growth of the target market in North America over the forecast period. North America accounts for the major revenue share of the global commercial vehicles market, followed by markets in Asia Pacific, Europe, Middle East & Africa, and Latin America respectively. The commercial vehicles market in Europe is expected to grow at a steady rate over the forecast period. Growing manufacturing sector in the region is expected to support revenue growth of the target market in the region over the forecast period.
Market Segmentation and Key Players Operating in the Global Commercial Vehicles Market:
- Buses & Coaches
- Light Commercial Vehicles
- Heavy Trucks
By End Use:
- Passenger Transportation
- Mining & Construction
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bosch Rexroth AG
- Daimler AG
- Ashok Leyland Limited
- Volkswagen AG
- AB Volvo
- Mack Trucks, Inc.
- Toyota Motor Corporation
- Mahindra & Mahindra Limited
- General Motors Company
- Tata Motors Limited
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