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Commercial Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 142 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820809
Description Jump to:
The global commercial vehicles market size reached US$ 772.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 988.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.02% during 2023-2028.

Commercial vehicles are licensed for being used in the transportation of goods or materials. They can either be registered in the name of an individual as a sole proprietor or leased in the name of a financial institution. Their safety is improving on account of on-board and vehicle condition monitoring and driver aids like field-of-view cameras, journey management planning and route design. As a result, commercial vehicles find extensive applications in the logistics and transportation industries across the globe.

Commercial Vehicles Market Trends:

At present, there is a significant rise in the requirement for transportation of goods on account of the growing imports and exports around the world. This, in confluence with the rapid expansion of road infrastructure networks, represents one of the key factors bolstering the growth of the market. In addition, there is an increase in the electrification of commercial vehicles as they offer several advantages, including less air and noise pollution, reduced fuel consumption and maintenance costs, increased payload capability, and enhanced reliability. In line with this, governing authorities of numerous countries are imposing stringent emission regulations, which is positively influencing the adoption of electric vehicles (EVs) for commercial use. Apart from this, original equipment manufacturers (OEMs) are introducing commercial vehicles with features, such as accident warnings, traffic data, weather reports, and updates on road works. This, coupled with the rising construction and mining activities, which are increasing the need for material transportation worldwide, is fueling the growth of the market. Furthermore, various technological advancements, along with considerable growth in the automotive industry, are anticipated to create a positive outlook for the market in the upcoming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global commercial vehicles market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, propulsion type and end use.

Breakup by Vehicle Type:

  • Light Commercial Vehicle
  • Medium and Heavy-duty Commercial Vehicle

Breakup by Propulsion Type:

  • IC Engine
  • Electric Vehicle

Breakup by End Use:

  • Industrial
  • Mining and Construction
  • Logistics
  • Passenger Transportation
  • Others

Breakup by Region:

North America

  • United States
  • Canada

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, Ashok Leyland (Hinduja Group), Ford Motor Company, General Motors Company, Hyundai Motor Company, ISUZU Motors Limited, Mahindra & Mahindra Limited, Mercedes-Benz Group AG, Mitsubishi Motors Corporation, Robert Bosch GmbH, Tata Motors Limited, Toyota Motor Corporation and Volkswagen AG.

Key Questions Answered in This Report:

  • What was the size of the global commercial vehicles market in 2022?
  • What is the expected growth rate of the global commercial vehicles market during 2023-2028?
  • What has been the impact of COVID-19 on the global commercial vehicles market?
  • What are the key factors driving the global commercial vehicles market?
  • What is the breakup of the global commercial vehicles market based on the vehicle type?
  • What is the breakup of the global commercial vehicles market based on the propulsion type?
  • What is the breakup of the global commercial vehicles market based on the end use?
  • What are the key regions in the global commercial vehicles market?
  • Who are the key players/companies in the global commercial vehicles market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Commercial Vehicles Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Vehicle Type
6.1 Light Commercial Vehicle
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Medium and Heavy-duty Commercial Vehicle
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Propulsion Type
7.1 IC Engine
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Electric Vehicle
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End Use
8.1 Industrial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Mining and Construction
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Logistics
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Passenger Transportation
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AB Volvo
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Ashok Leyland (Hinduja Group)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Ford Motor Company
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 General Motors Company
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Hyundai Motor Company
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 ISUZU Motors Limited
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Mahindra & Mahindra Limited
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Mercedes-Benz Group AG
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Mitsubishi Motors Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Robert Bosch GmbH
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 SWOT Analysis
14.3.11 Tata Motors Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Toyota Motor Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
14.3.13 Volkswagen AG
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
14.3.13.3 Financials
14.3.13.4 SWOT Analysis
List of Figures
Figure 1: Global: Commercial Vehicles Market: Major Drivers and Challenges
Figure 2: Global: Commercial Vehicles Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Commercial Vehicles Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Commercial Vehicles Market: Breakup by Vehicle Type (in %), 2022
Figure 5: Global: Commercial Vehicles Market: Breakup by Propulsion Type (in %), 2022
Figure 6: Global: Commercial Vehicles Market: Breakup by End Use (in %), 2022
Figure 7: Global: Commercial Vehicles Market: Breakup by Region (in %), 2022
Figure 8: Global: Commercial Vehicles (Light Commercial Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Commercial Vehicles (Light Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Commercial Vehicles (Medium and Heavy-duty Commercial Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Commercial Vehicles (Medium and Heavy-duty Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Commercial Vehicles (IC Engine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Commercial Vehicles (IC Engine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Commercial Vehicles (Electric Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Commercial Vehicles (Electric Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Commercial Vehicles (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Commercial Vehicles (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Commercial Vehicles (Mining and Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Commercial Vehicles (Mining and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Commercial Vehicles (Logistics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Commercial Vehicles (Logistics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Commercial Vehicles (Passenger Transportation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Commercial Vehicles (Passenger Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Commercial Vehicles (Other End Uses) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Commercial Vehicles (Other End Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Commercial Vehicles Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Global: Commercial Vehicles Industry: SWOT Analysis
Figure 76: Global: Commercial Vehicles Industry: Value Chain Analysis
Figure 77: Global: Commercial Vehicles Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Commercial Vehicles Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Commercial Vehicles Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 3: Global: Commercial Vehicles Market Forecast: Breakup by Propulsion Type (in Million US$), 2023-2028
Table 4: Global: Commercial Vehicles Market Forecast: Breakup by End Use (in Million US$), 2023-2028
Table 5: Global: Commercial Vehicles Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Commercial Vehicles Market: Competitive Structure
Table 7: Global: Commercial Vehicles Market: Key Players

Companies Mentioned

  • AB Volvo
  • Ashok Leyland (Hinduja Group)
  • Ford Motor Company
  • General Motors Company
  • Hyundai Motor Company
  • ISUZU Motors Limited
  • Mahindra & Mahindra Limited
  • Mercedes-Benz Group AG
  • Mitsubishi Motors Corporation
  • Robert Bosch GmbH
  • Tata Motors Limited
  • Toyota Motor Corporation and Volkswagen AG.

Methodology

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Table Information

Report AttributeDetails
No. of Pages142
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 772.5 Billion
Forecasted Market Value ( USD ) by 2028 $ 988.8 Billion
Compound Annual Growth Rate4.2%
Regions CoveredGlobal
No. of Companies Mentioned12

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