Light Commercial Vehicle Market | Leading Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025
The light commercial vehicle market is expected to grow by 1.20 mn units, decelerating at a CAGR of almost 1.36% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
Get a peek into our extensive market analysis: Request for Our FREE Sample Report
Light Commercial Vehicle Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The Light Commercial Vehicle Market is segmented by Type (Conventional fuel vehicles and Alternative fuel vehicles) and Geography (North America, APAC, Europe, South America, and MEA).
- In terms of geographic segmentation we found that 49% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Light Commercial Vehicle Market size.
Light Commercial Vehicle Market: Top Trends, Drivers, Challenges to drive Market Recovery
The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.
- A key market driver for the Light Commercial Vehicle Market will be rising penetration of downsized engines in lcvs to drive vehicle price.
- Another factor that will boost the market will be the Rising preference for pickup trucks in emerging countries.
- Implementation of fuel-efficiency standards will result in increased prices of LCVs is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.
Light Commercial Vehicle Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Daimler AG, Ford Motor Co., General Motors Co., Groupe PSA, Hinduja Group Ltd., Hyundai Motor Co., Mahindra & Mahindra Ltd., Renault SA, Tata Motors Ltd., and Toyota Motor Corp. are some of the major market participants.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is decelerate at a CAGR of about 1.36%.
- What is the incremental growth of the market?
The market is expected to grow by 1.20 mn units through 2021-2025.
- What is a key factor driving this market?
Rising penetration of downsized engines in LCVs to drive vehicle price will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
49% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are Daimler AG, Ford Motor Co., General Motors Co., Groupe PSA, Hinduja Group Ltd., Hyundai Motor Co., Mahindra & Mahindra Ltd., Renault SA, Tata Motors Ltd., and Toyota Motor Corp.
- What are the market segments covered in this report?
The market is segmented by Type (Conventional fuel vehicles and Alternative fuel vehicles) and Geography (North America, APAC, Europe, South America, and MEA)
