Light Commercial Vehicles Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The light commercial vehicles are used for carrying goods and measured in tons in order to distinguish between light and heavy commercial vehicles. As per the International Organization of Motor Vehicle Manufacturers (OICA), these vehicles are characterized based on gross vehicle weight and have the maximum mass varying between 3.5 and 7 tons. The automotive manufacturers are shifting their preference from the production of passenger cars to the production of light commercial vehicles owing to urbanization and the rise in consumption of goods, around the globe.
MARKET DYNAMICS
The strict government norms related to emissions, growth in the global oil prices, and increasing penetration of downsized engines in light commercial vehicles drive the growth of the light commercial vehicles market. However, the high manufacturing cost may restrain the development of the light commercial vehicles market. Furthermore, growing automotive production in China, India, and ASEAN countries are anticipated to witness massive demand for light commercial vehicles during the forecast
MARKET SCOPE
The "Global Light Commercial Vehicles Market Analysis to 2031" is a specialized and in-depth study of the light commercial vehicles market with a special focus on the global market trend analysis. The report aims to provide an overview of light commercial vehicles market with detailed market segmentation by type, fuel type, and geography. The global light commercial vehicles market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading light commercial vehicles market players and offers key trends and opportunities in the light commercial vehicles market.
MARKET SEGMENTATION
The global light commercial vehicles market is segmented on the basis of type and fuel type. On the basis of type, the market is segmented as trucks, buses, vans, coaches, and others. On the basis of fuel type, the market is segmented diesel, gasoline, and electric.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global light commercial vehicles market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The light commercial vehicles market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting light commercial vehicles market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the light commercial vehicles market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global light commercial vehicles market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The light commercial vehicles market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting light commercial vehicles market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the light commercial vehicles market in these regions.
MARKET PLAYERS
The reports cover key developments in the light commercial vehicles market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from light commercial vehicles market are anticipated to lucrative growth opportunities in the future with the rising demand for light commercial vehicles market. Below mentioned is the list of few companies engaged in the light commercial vehicles market.
The report also includes the profiles of key light commercial vehicles market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AB Volvo
- Daimler AG
- Ford Motor Company
- General Motors
- Groupe PSA
- Groupe Renault
- Hyundai Motor Company
- Mahindra and Mahindra
- Tata Motors Limited
- Volkswagen AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Light Commercial Vehicles Market - By Type
1.3.2 Light Commercial Vehicles Market - By Fuel Type
1.3.3 Light Commercial Vehicles Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LIGHT COMMERCIAL VEHICLES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. LIGHT COMMERCIAL VEHICLES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. LIGHT COMMERCIAL VEHICLES MARKET - GLOBAL MARKET ANALYSIS
6.1. LIGHT COMMERCIAL VEHICLES - GLOBAL MARKET OVERVIEW
6.2. LIGHT COMMERCIAL VEHICLES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LIGHT COMMERCIAL VEHICLES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TRUCKS
7.3.1. Overview
7.3.2. Trucks Market Forecast and Analysis
7.4. BUSES
7.4.1. Overview
7.4.2. Buses Market Forecast and Analysis
7.5. VANS
7.5.1. Overview
7.5.2. Vans Market Forecast and Analysis
7.6. COACHES
7.6.1. Overview
7.6.2. Coaches Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. LIGHT COMMERCIAL VEHICLES MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
8.1. OVERVIEW
8.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3. DIESEL
8.3.1. Overview
8.3.2. Diesel Market Forecast and Analysis
8.4. GASOLINE
8.4.1. Overview
8.4.2. Gasoline Market Forecast and Analysis
8.5. ELECTRIC
8.5.1. Overview
8.5.2. Electric Market Forecast and Analysis
9. LIGHT COMMERCIAL VEHICLES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Light Commercial Vehicles Market Overview
9.1.2 North America Light Commercial Vehicles Market Forecasts and Analysis
9.1.3 North America Light Commercial Vehicles Market Forecasts and Analysis - By Type
9.1.4 North America Light Commercial Vehicles Market Forecasts and Analysis - By Fuel Type
9.1.5 North America Light Commercial Vehicles Market Forecasts and Analysis - By Countries
9.1.5.1 United States Light Commercial Vehicles Market
9.1.5.1.1 United States Light Commercial Vehicles Market by Type
9.1.5.1.2 United States Light Commercial Vehicles Market by Fuel Type
9.1.5.2 Canada Light Commercial Vehicles Market
9.1.5.2.1 Canada Light Commercial Vehicles Market by Type
9.1.5.2.2 Canada Light Commercial Vehicles Market by Fuel Type
9.1.5.3 Mexico Light Commercial Vehicles Market
9.1.5.3.1 Mexico Light Commercial Vehicles Market by Type
9.1.5.3.2 Mexico Light Commercial Vehicles Market by Fuel Type
9.2. EUROPE
9.2.1 Europe Light Commercial Vehicles Market Overview
9.2.2 Europe Light Commercial Vehicles Market Forecasts and Analysis
9.2.3 Europe Light Commercial Vehicles Market Forecasts and Analysis - By Type
9.2.4 Europe Light Commercial Vehicles Market Forecasts and Analysis - By Fuel Type
9.2.5 Europe Light Commercial Vehicles Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Light Commercial Vehicles Market
9.2.5.1.1 Germany Light Commercial Vehicles Market by Type
9.2.5.1.2 Germany Light Commercial Vehicles Market by Fuel Type
9.2.5.2 France Light Commercial Vehicles Market
9.2.5.2.1 France Light Commercial Vehicles Market by Type
9.2.5.2.2 France Light Commercial Vehicles Market by Fuel Type
9.2.5.3 Italy Light Commercial Vehicles Market
9.2.5.3.1 Italy Light Commercial Vehicles Market by Type
9.2.5.3.2 Italy Light Commercial Vehicles Market by Fuel Type
9.2.5.4 United Kingdom Light Commercial Vehicles Market
9.2.5.4.1 United Kingdom Light Commercial Vehicles Market by Type
9.2.5.4.2 United Kingdom Light Commercial Vehicles Market by Fuel Type
9.2.5.5 Russia Light Commercial Vehicles Market
9.2.5.5.1 Russia Light Commercial Vehicles Market by Type
9.2.5.5.2 Russia Light Commercial Vehicles Market by Fuel Type
9.2.5.6 Rest of Europe Light Commercial Vehicles Market
9.2.5.6.1 Rest of Europe Light Commercial Vehicles Market by Type
9.2.5.6.2 Rest of Europe Light Commercial Vehicles Market by Fuel Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Light Commercial Vehicles Market Overview
9.3.2 Asia-Pacific Light Commercial Vehicles Market Forecasts and Analysis
9.3.3 Asia-Pacific Light Commercial Vehicles Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Light Commercial Vehicles Market Forecasts and Analysis - By Fuel Type
9.3.5 Asia-Pacific Light Commercial Vehicles Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Light Commercial Vehicles Market
9.3.5.1.1 Australia Light Commercial Vehicles Market by Type
9.3.5.1.2 Australia Light Commercial Vehicles Market by Fuel Type
9.3.5.2 China Light Commercial Vehicles Market
9.3.5.2.1 China Light Commercial Vehicles Market by Type
9.3.5.2.2 China Light Commercial Vehicles Market by Fuel Type
9.3.5.3 India Light Commercial Vehicles Market
9.3.5.3.1 India Light Commercial Vehicles Market by Type
9.3.5.3.2 India Light Commercial Vehicles Market by Fuel Type
9.3.5.4 Japan Light Commercial Vehicles Market
9.3.5.4.1 Japan Light Commercial Vehicles Market by Type
9.3.5.4.2 Japan Light Commercial Vehicles Market by Fuel Type
9.3.5.5 South Korea Light Commercial Vehicles Market
9.3.5.5.1 South Korea Light Commercial Vehicles Market by Type
9.3.5.5.2 South Korea Light Commercial Vehicles Market by Fuel Type
9.3.5.6 Rest of Asia-Pacific Light Commercial Vehicles Market
9.3.5.6.1 Rest of Asia-Pacific Light Commercial Vehicles Market by Type
9.3.5.6.2 Rest of Asia-Pacific Light Commercial Vehicles Market by Fuel Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Light Commercial Vehicles Market Overview
9.4.2 Middle East and Africa Light Commercial Vehicles Market Forecasts and Analysis
9.4.3 Middle East and Africa Light Commercial Vehicles Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Light Commercial Vehicles Market Forecasts and Analysis - By Fuel Type
9.4.5 Middle East and Africa Light Commercial Vehicles Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Light Commercial Vehicles Market
9.4.5.1.1 South Africa Light Commercial Vehicles Market by Type
9.4.5.1.2 South Africa Light Commercial Vehicles Market by Fuel Type
9.4.5.2 Saudi Arabia Light Commercial Vehicles Market
9.4.5.2.1 Saudi Arabia Light Commercial Vehicles Market by Type
9.4.5.2.2 Saudi Arabia Light Commercial Vehicles Market by Fuel Type
9.4.5.3 U.A.E Light Commercial Vehicles Market
9.4.5.3.1 U.A.E Light Commercial Vehicles Market by Type
9.4.5.3.2 U.A.E Light Commercial Vehicles Market by Fuel Type
9.4.5.4 Rest of Middle East and Africa Light Commercial Vehicles Market
9.4.5.4.1 Rest of Middle East and Africa Light Commercial Vehicles Market by Type
9.4.5.4.2 Rest of Middle East and Africa Light Commercial Vehicles Market by Fuel Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Light Commercial Vehicles Market Overview
9.5.2 South and Central America Light Commercial Vehicles Market Forecasts and Analysis
9.5.3 South and Central America Light Commercial Vehicles Market Forecasts and Analysis - By Type
9.5.4 South and Central America Light Commercial Vehicles Market Forecasts and Analysis - By Fuel Type
9.5.5 South and Central America Light Commercial Vehicles Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Light Commercial Vehicles Market
9.5.5.1.1 Brazil Light Commercial Vehicles Market by Type
9.5.5.1.2 Brazil Light Commercial Vehicles Market by Fuel Type
9.5.5.2 Argentina Light Commercial Vehicles Market
9.5.5.2.1 Argentina Light Commercial Vehicles Market by Type
9.5.5.2.2 Argentina Light Commercial Vehicles Market by Fuel Type
9.5.5.3 Rest of South and Central America Light Commercial Vehicles Market
9.5.5.3.1 Rest of South and Central America Light Commercial Vehicles Market by Type
9.5.5.3.2 Rest of South and Central America Light Commercial Vehicles Market by Fuel Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. LIGHT COMMERCIAL VEHICLES MARKET, KEY COMPANY PROFILES
11.1. AB VOLVO
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DAIMLER AG
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FORD MOTOR COMPANY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GENERAL MOTORS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GROUPE PSA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GROUPE RENAULT
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HYUNDAI MOTOR COMPANY
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MAHINDRA AND MAHINDRA
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TATA MOTORS LIMITED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VOLKSWAGEN AG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. AB Volvo
2. Daimler AG
3. Ford Motor Company
4. General Motors
5. Groupe PSA
6. Groupe Renault
7. Hyundai Motor Company
8. Mahindra and Mahindra
9. Tata Motors Limited
10. Volkswagen AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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