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Commercial Vehicles - Global Strategic Business Report

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    Report

  • 383 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 344066

Global Commercial Vehicles Market to Reach 33.9 Million Units by 2030

The global market for Commercial Vehicles estimated at 23.4 Million Units in the year 2022, is projected to reach a revised size of 33.9 Million Units by 2030, growing at a CAGR of 4.7% over the analysis period 2022-2030.

The U.S. Market is Estimated at 11 Million Units, While China is Forecast to Grow at 7% CAGR

The Commercial Vehicles market in the U.S. is estimated at 11 Million Units in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of 7.6 Million Units by the year 2030 trailing a CAGR of 7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.

Select Competitors (Total 124 Featured)

  • Daimler AG
  • Continental AG
  • Honda Motor Co., Ltd.
  • AB Volvo
  • Isuzu Motors Ltd.
  • CNH Industrial NV
  • Ashok Leyland Ltd.
  • China FAW Group Co., Ltd.
  • Brilliance China Automotive Holdings Ltd.
  • Dongfeng Motor Group Co., Ltd.
  • Eicher Motors Ltd.
  • Hindustan Motors Ltd.
  • Hyundai Motor Company
  • Aptiv PLC
  • CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Global Market for Commercial Vehicle Telematics

What is the estimated value of the Global Market for Commercial Vehicle Telematics?

The Global Market for Commercial Vehicle Telematics was estimated to be valued at $23.2 Billion in 2022.

What is the growth rate of the Global Market for Commercial Vehicle Telematics?

The growth rate of the Global Market for Commercial Vehicle Telematics is 6.2%, with an estimated value of $37.6 Billion by 2030.

What is the forecasted size of the Global Market for Commercial Vehicle Telematics?

The Global Market for Commercial Vehicle Telematics is estimated to be worth $37.6 Billion by 2030.

Who are the key companies in the Global Market for Commercial Vehicle Telematics?

Key companies in the Global Market for Commercial Vehicle Telematics include Agero Inc., Airbiquity, Inc., AirIQ Inc., BOX Telematics Ltd., BSM Technologies Inc., CalAmp, Ctrack, Davis Instruments, Fleetmatics Group PLC and Geotab Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Telematics Shapes the Future of Automobiles in the 21st Century by Ushering in a New Era of Intelligence
  • Recent Market Activity
  • Commercial Vehicle Telematics: Market Overview
  • Market Outlook
  • Commercial Vehicle Telematics - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Airbiquity, Inc. (USA)
  • AirIQ, Inc. (Canada)
  • Agero, Inc. (USA)
  • BOX Telematics Ltd. (UK)
  • BSM Technologies, Inc. (Canada)
  • CalAmp (USA)
  • Ctrack (UK)
  • Davis Instruments (USA)
  • Fleetmatics Group PLC (Ireland)
  • Geotab, Inc. (Canada)
  • Intelligent Telematics (Ireland)
  • Omnitracs, LLC (USA)
  • OnStar Corporation (USA)
  • Orbcomm, Inc. (USA)
  • QUALCOMM, Inc. (USA)
  • Telit Wireless Solutions (UK)
  • Transport Management Solutions Ltd. (UK)
  • Trimble Transport & Logistics (Belgium)
  • Zonar Systems (USA)
3. MARKET TRENDS & DRIVERS
  • A Peek Into Key Trends Providing the Stepping Stone for Growth of Telematics in the CV Market
  • Growing Production of CVs
  • Automobile Electronification
  • Growing ITS Investments
  • The Rise of Connected Vehicles
  • Mandatory Telematics Regulations in the CV Industry
  • Developments in Connectivity Technologies like Cellular Networks, Wi-Fi, Bluetooth & Satellite Commutations
  • Cost Pressures in the Logistics Industry Spurs Market Opportunities for CV Telematics in Fleet Management
  • Innovation in Telematics Services to Boost Revenue Potential of the Market
  • One-stop Telematics Solutions of the Future
  • Unique Platforms for Different Fleet Sizes
  • A Glance at Other Major Technology Trends
  • Growing Investments in Public Transportation to Benefit Growth of CV Telematics
  • Aftermarket Telematics Emerges Over the Horizon to Compete With OEM Embedded Telematics
  • Big Data on Wheels: Automotive Telematics to Derive New Value From Emerging Big Data Technologies
  • Telematics: The New Fuel Source for Big Data
  • Need to Reduce Vehicle Insurance Costs & Risks Drives Interest in Telematics Usage-Based Insurance
  • UBI Pricing Scheme
  • Advantages & Challenges
  • Effect of Telematics on the Insurance Industry
  • Developments in Mobile Telemedicine, Emergency Care & First Responder Networks Drive Demand for Telematics
  • Spurt in Infrastructure Development in Emerging Markets Drives Demand for Off-Highway Vehicle Telematics
  • Strong Growth in Car Sharing, Car Rental & Carpooling Services Expands the Business Case for Transport Telematics
  • Developing Regions to Drive Future Market Growth
  • Challenges to Growth: A Review
  • Concerns Over Driver Distraction
  • Hacking Emerges Into a Potent Threat to Privacy & Data Security
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Commercial Vehicle Telematics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Commercial Vehicle Telematics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 3: World 16-Year Perspective for Commercial Vehicle Telematics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 5: World Historic Review for Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 6: World 16-Year Perspective for Service by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Solution by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World Historic Review for Solution by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 9: World 16-Year Perspective for Solution by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 11: World Historic Review for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 12: World 16-Year Perspective for OEM by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Aftermarket by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 14: World Historic Review for Aftermarket by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 15: World 16-Year Perspective for Aftermarket by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Transport & Logistics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 17: World Historic Review for Transport & Logistics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 18: World 16-Year Perspective for Transport & Logistics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Insurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 20: World Historic Review for Insurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 21: World 16-Year Perspective for Insurance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 23: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 24: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • Table 25: World Commercial Vehicle Telematics Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
REST OF EUROPE
ASIA-PACIFIC
  • Commercial Vehicle Telematics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
REST OF WORLDIV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Daimler AG
  • Continental AG
  • Honda Motor Co., Ltd.
  • AB Volvo
  • Isuzu Motors Ltd.
  • CNH Industrial NV
  • Ashok Leyland Ltd.
  • China FAW Group Co., Ltd.
  • Brilliance China Automotive Holdings Ltd.
  • Dongfeng Motor Group Co., Ltd.
  • Eicher Motors Ltd.
  • Hindustan Motors Ltd.
  • Hyundai Motor Company
  • Aptiv PLC
  • CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.