Latest News- Light Commercial Vehicle Market in Europe: Conventional fuel vehicles is expected to lead the Type segment during 2025-2029

The Light Commercial Vehicle Market in Europe is being driven by Increased utility of pickup trucks

The Light Commercial Vehicle Market in Europe is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 27.7 billion. Telematics, a multidisciplinary field encompassing telecommunications, electrical engineering, road transportation, and vehicular technologies, offers significant benefits to various stakeholders, including vehicle owners, fleet operators, and insurance providers. In the context of light commercial vehicles, the integration of telematics systems is increasingly prevalent, enabling real-time monitoring of vehicle movement and location through Global Positioning System (GPS) and integrated global system for mobile communication (GSM). Third-party telematics companies, such as TomTom Telematics, provide customized packages, like the WEBFLEET solution, to optimize the usage efficiency of light commercial vehicles by offering accurate and real-time information on their location and movements. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Conventional fuel vehicles
  • Alternative fuel vehicles
• Vehicle Type
  • Light commercial pick-up trucks
  • Light commercial vans
• Variant
  • ICE
  • Hybrid and electric vehicles
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Spain

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased utility of pickup trucks
• Increasing demand for light commercial vehicles in construction industry
• Infrastructure development

However, the market also witnesses some limitations, which are as follows:

• High manufacturing cost of light commercial vehicles
• Stringent emission regulations for light commercial vehicles
• Implementation of fuel-efficiency standards resulting in increased prices of light commercial vehicles

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Market Scope in Light Commercial Vehicle Market in Europe Research Report

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Research Analysis Overview

The European Light Commercial Vehicle (LCV) market encompasses various segments, including pickup trucks, light duty trucks, utility vehicles, and small trucks. E-commerce is driving demand for delivery services, leading to increased usage of refrigerated LCVs for food and pharmaceutical transport. Autonomous driving technologies and electric trucks are emerging trends. Industrial activities such as logistics, rubbish collection, and street sweeping also rely on LCVs. Fuel efficiency and cargo capacity are key considerations, along with emission norms and downsized engines. Business tools like telematics systems and driver assistance technologies are essential for fleet management. Construction transport and passenger transport are other significant applications. Internal combustion engines dominate, but emission regulations are pushing adoption of electric trucks. Cargo capacity, delivery services, and fuel efficiency are crucial factors for businesses in urban logistics. Cold storage and cargo transport are essential for industries like food and pharmaceuticals.

Market Research Overview

The European light commercial vehicle market encompasses manufacturers producing light duty trucks, pickups, and light commercial trucks for e-commerce and business applications. Notably, this sector falls under the broader automobile manufacturers market, which includes revenue from the production of passenger cars, commercial vehicles, and all-terrain vehicles, excluding motorcycles, scooters, e-bikes, trikes, and three-wheelers. Market expansion will be propelled by the integration of advanced technologies, such as autonomous driving capabilities and secured safety systems, to enhance vehicle functionality and appeal to customers. Additionally, the growing demand for fuel efficiency through electronic fuel control and emission standardization will further drive market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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