Commercial Vehicles Market By Product Type (Light Commercial Vehicles, Heavy Commercial Vehicles, Buses), By End-Use (Industrial, Logistics, Passenger Transport, Mining & Construction), By Engine Type (Gasoline, Diesel, Electric, Natural Gas, Hybrid) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027
Growing Logistics Industry to Boost the Demand for Global Commercial Vehicles Market Worldwide
In 2018, the global commercial vehicles market was estimated at US$ 1.05 Tn and is expected to grow at a CAGR of 6.2% throughout the forecast period from 2019 to 2027. Development of global economy, expansion of logistics industry and improved road infrastructure globally are the major key factors for global commercial vehicles market growth. As per OICA, around 5% more vehicles was sold in 2018 as compared to 2017. Penetration of e-commerce and rising infrastructural development worldwide are some of the key factors driving the growth of the global commercial vehicles market. As a result of above-mentioned factors, the global commercial vehicles market will show significant growth during the forecast period.
Buses Segment to be the Fastest Growing Segment
Based on product type, the global commercial vehicles market is segmented into light commercial vehicles, heavy commercial vehicles and buses. The global commercial vehicles market was led by light commercial vehicles segment with revenue contribution of around 70% in 2018. Light commercial vehicles segment has its dominance owing to its benefits such as dynamic nature, cost-effectiveness and reduced emissions. On the other flip, buses segment will be the fastest growing segment during the forecast period. Growth in tourism industry and cost- effectiveness are the major reasons of growth for the segment. Thus, we expect that buses segment will be the fastest growing segment across the forecast period.
Asia Pacific will be the Fastest Growing Region throughout the Forecast Period
North America was the largest market by value and by volume for global commercial vehicles in 2018. The region accounted for more than 1/3rd of the global revenue and around 1/2 of the volume share in the same year. The dominance is owing to infrastructure development and expansion of e-commerce industry. Furthermore, we expect that Asia Pacific will be the fastest growing region during the forecast period. Asia Pacific will show fastest growth owing to significant growth in logistics industry, manufacturing industry and increased infrastructure spending by the government. As per OICA, in 2018, Asia Pacific registered nearly 4% increase in the commercial vehicle sales as compared to 2017. Thus, we expect that Asia Pacific region will be the fastest growing region throughout the forecast period.
Some of the prominent players operating in the global commercial vehicles market include Daimler AG, Tata Motors, Volkswagen AG, Ashok Leyland, Volvo Car Corporation, General Motors, Fiat Chrysler Automobiles N.V., China National Heavy Duty Truck Group Co., Ltd., PACCAR Inc., IZUSU Motors Ltd., Ford Motor Company, JAC Motors, Toyota Motor Corporation, among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The global commercial vehicles market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global commercial vehicles market based on product type, end-use, engine type and geography. Key segments covered in the report are as follows:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | USD Tillion |
| Segmentation |
Product Type (2019–2027; US$ Tn) |
|
End-use (2019–2027; US$ Tn) |
|
|
Engine Type (2019–2027; US$ Tn) |
|
|
Geography Segment (2019–2027; US$ Tn) |
Key questions answered in this report
- What was the market size of global commercial vehicles market in 2018 and forecast up to 2027?
- Which is the largest regional market for global commercial vehicles?
- What are the major trends followed in overall global commercial vehicles market across different regions?
- What are the key high-growth opportunities observed in the global commercial vehicles market?
- What are the drivers of the global commercial vehicles market?
- Which are the leading global commercial vehicles providers worldwide?
- What are the key strategies adopted by the leading global commercial vehicles providers?
Unique data points of this report
- Statistics on Automobiles Industry
- Recent trends across different regions in terms of adoption of global commercial vehicles
- Notable on-going developments in the global commercial vehicles industry
- Attractive investment proposition for different segments of global commercial vehicles market
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global CV Market Snapshot
2.2. Global CV Market, By Product Type, 2018 (US$ Tn) (Units)
2.3. Global CV Market, By End-use, 2018 (US$ Tn) (Units)
2.4. Global CV Market, By Engine Type, 2018 (US$ Tn) (Units)
2.5. Global CV Market, By Geography, 2018 (US$ Tn) (Units)
3. Global Commercial Vehicles (CV) Market Analysis
3.1. Global CV Market Overview
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Challenges
3.3. Attractive Investment Proposition, By Geography, 2018
3.4. Market Positioning of Key Industry Participants
3.4.1. Major Strategies Adopted
4. Global Commercial Vehicles (CV) Market Value, By Product Type , 2017 – 2027 (US$ Tn) (Units)
4.1. Market Analysis
4.2. Light CV
4.3. Heavy CV
4.4. Buses
5. Global Commercial Vehicles (CV) Market Value, By End-use , 2017 – 2027 (US$ Tn) (Units)
5.1. Market Analysis
5.2. Industrial
5.3. Logistics
5.4. Passenger Transport
5.5. Mining & Construction
6. Global Commercial Vehicles (CV) Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
6.1. Market Analysis
6.2. Gasoline
6.3. Diesel
6.4. Electric
6.5. Natural Gas
6.6. Hybrid
6.6.1. Diesel + Electric
6.6.2. Diesel + CNG
6.6.3. Gasoline + CNG
7. North America Commercial Vehicles (CV) Market Analysis, 2017 – 2027 (US$ Tn) (Units)
7.1. North America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
7.1.1. Light CV
7.1.2. Heavy CV
7.1.3. Buses
7.2. North America CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
7.2.1. Industrial
7.2.2. Logistics
7.2.3. Passenger Transport
7.2.4. Mining & Construction
7.3. North America CV Market Value, Engine Type, 2017 – 2027 (US$ Tn) (Units)
7.3.1. Gasoline
7.3.2. Diesel
7.3.3. Electric
7.3.4. Natural Gas
7.3.5. Hybrid
7.3.5.1. Diesel + Electric
7.3.5.2. Diesel + CNG
7.3.5.3. Gasoline + CNG
7.4. North America CV Market Value, By Country, 2017 – 2027 (US$ Tn) (Units)
7.4.1. U.S.
7.4.1.1. U.S. CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
7.4.1.2. U.S. CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
7.4.1.3. U.S. CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
7.4.2. Rest of North America
7.4.2.1. Rest of North America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
7.4.2.2. Rest of North America CV Market Value, By End-use, 2017– 2027 (US$ Tn) (Units)
7.4.2.3. Rest of North America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
8. Europe Commercial Vehicles (CV) Market Analysis, 2017 – 2027 (US$ Tn) (Units)
8.1. Europe CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
8.1.1. Light CV
8.1.2. Heavy CV
8.1.3. Buses
8.2. Europe CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
8.2.1. Industrial
8.2.2. Logistics
8.2.3. Passenger Transport
8.2.4. Mining & Construction
8.3. Europe CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
8.3.1. Gasoline
8.3.2. Diesel
8.3.3. Electric
8.3.4. Natural Gas
8.3.5. Hybrid
8.3.5.1. Diesel + Electric
8.3.5.2. Diesel + CNG
8.3.5.3. Gasoline + CNG
8.4. Europe CV Market Value, By Region, 2017 – 2027 (US$ Tn) (Units)
8.4.1. U.K.
8.4.1.1. U.K. CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
8.4.1.2. U.K. CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
8.4.1.3. U.K. CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
8.4.2. Germany
8.4.2.1. Germany CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
8.4.2.2. Germany CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
8.4.2.3. Germany CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
8.4.3. France
8.4.3.1. France CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
8.4.3.2. France CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
8.4.3.3. France CV Market Value, By Engine Type, 2017– 2027 (US$ Tn) (Units)
8.4.4. Rest of Europe
8.4.4.1. Rest of Europe CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
8.4.4.2. Rest of Europe CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
8.4.4.3. Rest of Europe CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
9. Asia Pacific Commercial Vehicles (CV) Market Analysis, 2017 – 2027 (US$ Tn) (Units)
9.1. Asia Pacific CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
9.1.1. Light CV
9.1.2. Heavy CV
9.1.3. Buses
9.2. Asia Pacific CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
9.2.1. Industrial
9.2.2. Logistics
9.2.3. Passenger Transport
9.2.4. Mining & Construction
9.3. Asia Pacific CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
9.3.1. Gasoline
9.3.2. Diesel
9.3.3. Electric
9.3.4. Natural Gas
9.3.5. Hybrid
9.3.5.1. Diesel + Electric
9.3.5.2. Diesel + CNG
9.3.5.3. Gasoline + CNG
9.4. Asia Pacific CV Market Value, By Country, 2017 – 2027 (US$ Tn) (Units)
9.4.1. Japan
9.4.1.1. Japan CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
9.4.1.2. Japan CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
9.4.1.3. Japan CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
9.4.2. China
9.4.2.1. China CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
9.4.2.2. China CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
9.4.2.3. China CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
9.4.3. India
9.4.3.1. India CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
9.4.3.2. India CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
9.4.3.3. India CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
9.4.4. Rest of Asia Pacific
9.4.4.1. Rest of Asia Pacific CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
9.4.4.2. Rest of Asia Pacific CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
9.4.4.3. Rest of Asia Pacific CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
10. Rest of World Commercial Vehicles (CV) Market Analysis, 2017 – 2027 (US$ Tn) (Units)
10.1. Rest of World CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
10.1.1. Light CV
10.1.2. Heavy CV
10.1.3. Buses
10.2. Rest of World CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
10.2.1. Industrial
10.2.2. Logistics
10.2.3. Passenger Transport
10.2.4. Mining & Construction
10.3. Rest of World CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
10.3.1. Gasoline
10.3.2. Diesel
10.3.3. Electric
10.3.4. Natural Gas
10.3.5. Hybrid
10.3.5.1. Diesel + Electric
10.3.5.2. Diesel + CNG
10.3.5.3. Gasoline + CNG
10.4. Rest of World CV Market Value, By Region, 2017 – 2027 (US$ Tn) (Units)
10.4.1. Latin America
10.4.1.1. Latin America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
10.4.1.2. Latin America CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
10.4.1.3. Latin America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
10.4.2. Middle-East and Africa
10.4.2.1. Middle-East and Africa CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
10.4.2.2. Middle-East and Africa CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
10.4.2.3. Latin America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
11. Company Profiles
11.1 Daimler AG
11.2 Tata Motors
11.3 Volkswagen AG
11.4 Ashok Leyland
11.5 Volvo Car Corporation
11.6 General Motors
11.7 Fiat Chrysler Automobiles N.V.
11.8 China National Heavy Duty Truck Group Co., Ltd.
11.9 PACCAR Inc.
11.10 IZUSU Motors Ltd.
11.11 Ford Motor Company
11.12 JAC Motors
11.13 Toyota Motor Corporation
*Here we are using CV as a short form of Commercial Vehicles
TABLE 1 Market Snapshot: Global Commercial Vehicles (CV) Market
TABLE 2 Evolution of CV
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 6 North America CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 7 North America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 8 North America CV Market Value, By Country, 2017 – 2027 (US$ Tn) (Units)
TABLE 9 U.S. CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 10 U.S. CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 11 U.S. CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 12 Rest of North America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 13 Rest of North America CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 14 Rest of North America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 15 Europe CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 16 Europe CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 17 Europe CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 18 Europe CV Market Value, By Country, 2017 – 2027 (US$ Tn) (Units)
TABLE 19 U.K. CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 20 U.K. CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 21 U.K. CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 22 France CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 23 France CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 24 France CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 25 Germany CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 26 Germany CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 27 Germany CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 28 Rest of Europe CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 29 Rest of Europe CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 30 Rest of Europe CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 31 Asia Pacific CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 32 Asia Pacific CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 33 Asia Pacific CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 34 Asia Pacific CV Market Value, By Country, 2017 – 2027 (US$ Tn) (Units)
TABLE 35 China CV Market Value, By Product Type, 2017- 2027 (US$ Tn) (Units)
TABLE 36 China CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 37 China CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 38 Japan CV Market Value, By Product Type, 2017– 2027 (US$ Tn) (Units)
TABLE 39 Japan CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 40 Japan CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 41 India CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 42 India CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 43 India CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 44 Rest of Asia Pacific CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 45 Rest of Asia Pacifc CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 46 Rest of Asia Pacific CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 47 Rest of World CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 48 Rest of World CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 49 Rest of World CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 50 Rest of World CV Market Value, By Region, 2017 – 2027 (US$ Tn) (Units)
TABLE 51 Latin America CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 52 Latin America CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 53 Latin America CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 54 Middle-East and Africa CV Market Value, By Product Type, 2017 – 2027 (US$ Tn) (Units)
TABLE 55 Middle-East and Africa CV Market Value, By End-use, 2017 – 2027 (US$ Tn) (Units)
TABLE 56 Middle-East and Africa CV Market Value, By Engine Type, 2017 – 2027 (US$ Tn) (Units)
FIG. 1 Global Commercial Vehicles (CV): Market Segmentation
FIG. 2 Global CV Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global CV Market, By Product Type, 2018 (US$ Tn) (Units)
FIG. 5 Global CV Market, By End-use, 2018 (US$ Tn) (Units)
FIG. 6 Global CV Market, By Engine Type, 2018 (US$ Tn) (Units)
FIG. 7 Global CV Market, By Geography, 2018 (US$ Tn) (Units)
FIG. 8 Global CV Market Value and Growth, 2018 – 2027 , (US$ Bn and % Y-o-Y)
FIG. 9 Market Positioning of Key Industry Participants, 2018
FIG. 10 Global CV Market Value Contribution, By Product Type, 2018 & 2027 (Value %)
FIG. 11 CV Light CV Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units)
FIG. 12 CV Heavy CV Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units)
FIG. 13 CV Buses Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units)
FIG. 14 Global CV Market Value Contribution, By End-use, 2018 & 2027 (Value %)
FIG. 15 Global CV Market Value & Growth for Industrial , 2017 – 2027 , (US$ Tn) (Units)
FIG. 16 Global CV Market Value & Growth for Logistics, 2017 – 2027 , (US$ Tn) (Units)
FIG. 17 Global CV Market Value & Growth for Passenger Transportation, 2017 – 2027 , (US$ Tn) (Units)
FIG. 18 Global CV Market Value & Growth for Mining & Construction, 2017 – 2027 , (US$ Tn) (Units)
FIG. 19 Global CV Market Value Contribution, By Engine Type, 2018 & 2027 (Value %)
FIG. 20 Global CV Market Value & Growth for Gasoline , 2017 – 2027 , (US$ Tn) (Units)
FIG. 21 Global CV Market Value & Growth for Diesel, 2017 – 2027 , (US$ Tn) (Units)
FIG. 22 Global CV Market Value & Growth for Electric, 2017 – 2027 , (US$ Tn) (Units)
FIG. 23 Global CV Market Value & Growth for Natural Gas, 2017 – 2027 , (US$ Tn) (Units)
FIG. 24 Global CV Market Value & Growth for Hybrid, 2017 – 2027 , (US$ Tn) (Units)
FIG. 25 North America CV Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units) (Y-o-Y %)
FIG. 26 Europe CV Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units) (Y-o-Y %)
FIG. 27 Asia Pacific CV Market Value and Growth, 2017 – 2027 , (US$ Tn) (Units) (Y-o-Y %)
FIG. 28 RoW CV Market Value and Growth, 2017– 2027, (US$ Tn) (Units) (Y-o-Y %)
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