Commercial Vehicle Market is valued at USD 1336.59 Billion in 2017 and expected to reach USD 2094.85 Billion by 2024 with the CAGR of 6.63% over the forecast period.
Increase in demand for commercial vehicles in developing countries of Asia Pacific region is the main driving factor for Commercial Vehicle Market.
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Commercial Vehicle Market is Dominated by Top Players
Commercial vehicle market report covers prominent leading players like,
- Ford Motor
- Hyundai Motor
- King Long United Automotive Industry Co. Ltd
- MAN Truck and Bus
- Mitsubishi Fuso Truck and Bus Corporation
- Peugeot Citroen
Scope of Commercial Vehicle Market Report:
Commercial Vehicle Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about commercial vehicle market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consists of regional segmentation with product type and applications.
Commercial Vehicle Market is defined as the market which provides the service of transporting good and people from one place to another in exchange of money. The market constitutes sub sectors like logistics, road freight forwarder, public transportation system except train and metro on land. It also covers all the regional and local land product transportation system which is carried out by different type of light, medium and heavy-duty vehicle like mini truck, flat bet truck, cargo van, passenger van, tow trucks, pickup trucks, lorries, coaches, trailers etc.
The factors that are responsible for the commercial vehicle market to grow are increasing demand in developing countries of Asia pacific and Europe region, integration of telematic services, demand for specific transport solutions, rising popularity of fleet sharing, growth in ecommerce and logistics sector etc. now a days downsized engine blocks are used which have decreased weight, fuel efficiency and reduced vehicle emission. Introduction of downsized engine in to commercial vehicles reduces overall production cost of vehicles which in turn increases the demand for these types of vehicles. The logistics department’s demand has increased in recent years and it captured a sizeable share in market and expected to have CAGR of 7. 57%. the risk factor for commercial vehicle market is various concern of environmental pollution by governments of countries which in turn made them to put various restrictions on the manufacturing industry of commercial market.
There are many different types of vehicles are introduced in the market recently who uses alternative of traditional fuel like electricity or both traditional fuel and electricity which are deemed as the future of all vehicle and a great opportunity for various major players of commercial vehicle market.
Global Commercial vehicle market report covers prominent players like Daimler, Eicher, Ford Motor, Hyundai Motor, King Long United Automotive Industry Co. Ltd, MAN Truck and Bus, Mitsubishi Fuso Truck and Bus Corporation, Peugeot Citroen, Renault, SML Isuzu, Tata Motors, Toyota Motors, Volvo Trucks Corporation and Volvo Bus.
Commercial Vehicle Market Segmentation:
By Product – (Light duty vehicles, Medium duty vehicles, Heavy duty vehicles),
By Fuel- (Diesel, Petrol, Others),
By End-user- (Industrial, Mining & Construction, Logistics, Passenger Transportation, Others)
By Regional & Country Analysis
North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
This comprehensive report will provide:
- Enhance your strategic decision making
- Assist with your research, presentations and business plans
- Show which emerging market opportunities to focus on
- Increase your industry knowledge
- Keep you up-to-date with crucial market developments
- Allow you to develop informed growth strategies
- Build your technical insight
- Illustrate trends to exploit
- Strengthen your analysis of competitors
- Provide risk analysis, helping you avoid the pitfalls other companies could make
- Ultimately, help you to maximize profitability for your company.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
- How will each segment grow over the forecast period and how much revenue will these segment account for in 2025?
- Which region has more opportunities?
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