DUBLIN--(BUSINESS WIRE)--The "Global Light Commercial Vehicle Market, By Vehicle Type (Passenger Van, Cargo Van, Pickup Truck, Mini Truck & Minibus), By Tonnage Capacity (Below 2.5-3.5 Tons, 3.5-6 Tons), By Fuel Type (Diesel, Petrol, Others), By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Light Commercial Vehicle Market is expected to grow from 11.83 million units in 2020 to 16.03 million units by 2026 on account of easy availability of vehicle financing schemes, surge in the number of infrastructural projects and booming logistics and E-commerce sector.
Sales of light commercial vehicles worldwide grew from 12.73 million units in 2016 to 13.53 million units in 2019. Due to COVID-19, sales of light commercial vehicle plummeted; however, the market is estimated to bounce back and reach 16.03 million units by 2026. Until 2019, light commercial vehicles accounted for 75% of the global commercial vehicle sales and increased demand for last mile connectivity is forecast the drive the Global Light Commercial Vehicle Market through 2026.
Light commercial vehicles are generally used for the transportation of goods and services. The Global Light Commercial Vehicle Market can be segmented based on vehicle type, tonnage capacity, fuel type and region. On the basis of vehicle type, the market can be classified into passenger van, cargo van, pickup truck, mini truck and minibus. Vans and pickup trucks are the major segments in light commercial vehicle market as they have more space for seating. Based on tonnage capacity, the market can be segmented into less than 2.5-3.5 tons and 3.5-6 tons. Less than 2.5-3.5 tons accounted for the majority share in 2020 on account of presence of large number of vehicles in this segment. Moreover, light commercial vehicles under this segment are economically priced, thus contributing to the high sales of vehicles in 2020.
Regionally, the market for light commercial vehicles is gaining traction and expanding to various regions including Asia-Pacific, Europe & CIS, North America, South America, and Middle East & Africa. North America, followed by Asia Pacific, dominates the Global Light Commercial Vehicle Market and the region is expected to witness extensive adoption of light commercial vehicles during forecast period as well owing to continued investments in road infrastructure projects, increasing financing options and rising focus of government towards the automotive industry.
Companies Mentioned
- Ford Motor Company
- Renault S.A.
- Toyota Motor Corporation
- General Motors Company
- Mahindra Group
- Tata Motors Ltd.
- FCA US LLC
- Daimler AG
- SAIC Motor Corporation Limited (Liuzhou Wuling Automobile Industry Co., Ltd.)
- Volkswagen AG
Objective of the Study:
- To analyze historical growth in market size of the Global Light Commercial Vehicle Market from 2016 to 2020.
- To estimate and forecast the market size of the Global Light Commercial Vehicle Market from 2021 to 2026 and growth rate until 2026.
- To identify dominant region or segment in the Global Light Commercial Vehicle Market.
- To identify drivers and challenges for the Global Light Commercial Vehicle Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Light Commercial Vehicle Market.
- To conduct pricing analysis for the Global Light Commercial Vehicle Market.
- To identify and analyze the profile of leading players operating in the Global Light Commercial Vehicle Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Light Commercial Vehicle Market
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Awareness
4.3. Challenges Faced Post Purchasing
5. Executive Summary
6. Global Light Commercial Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Passenger Van, Cargo Van, Pickup Truck, Mini Truck and Minibus)
6.2.2. By Tonnage Capacity (Below 2.5-3.5 tons, 3.5-6 tons)
6.2.3. By Fuel Type (Diesel, Petrol and Others)
6.2.4. By Company (2020)
6.2.5. By Region
6.3. Product Market Map (By Vehicle Type, By Region)
7. Asia-Pacific Light Commercial Vehicle Market Outlook
8. Europe Light Commercial Vehicle Market Outlook
9. North America Light Commercial Vehicle Market Outlook
10. MEA Light Commercial Vehicle Market Outlook
11. South America Light Commercial Vehicle Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
16. About Us & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/hnnn7u
