Dublin, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The "Commercial Vehicle Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global commercial vehicle market is expected to grow from $719.69 billion in 2021 to $811.29 billion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The market is expected to grow to $1,237.72 billion in 2026 at a compound annual growth rate (CAGR) of 11.1%.
Major companies in the commercial vehicles market include Volkswagen AG, Daimler AG, Toyota Motor Corp, Peugeot, General Motors Co, Ford Motor Co, SAIC, Motor Co ltd, Volvo AB, Bayerische Motoren Werke AG, and Kia Motors Corp.
The commercial vehicles market consists of sales of commercial vehicles and related services by entities (organizations, sole traders, and partnerships) that produce complete light trucks and utility vehicles such as light-duty vans, minivans, pick-up trucks, and sports utility vehicles, and complete heavy-duty trucks, buses, coaches, heavy-duty motor homes and other special purposes heavy-duty motor vehicles for highway use.
The main types in the commercial vehicle market include light commercial vehicles, heavy trucks, buses, and coaches. Light commercial vehicles refer to vehicles that are no more than 3.5 metric tons. The various fuel types are gasoline, diesel, and other fuel types. The various propulsion types include IC Engine and Electric Vehicle. Commercial vehicles are used in mining and construction, logistics, passenger transportation, and other applications.
North America was the largest region in the commercial vehicles market in 2021. Asia Pacific was the second-largest region in the commercial vehicle market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Advances in technology are expected to be a continued driver of market growth in the forecast period. The commercial vehicle industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features in 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing, and reconfigurable body panels. These innovations are expected to drive the commercial vehicle market during the forecast period.
Major commercial vehicle manufacturers are investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Driverless commercial vehicles can sense their surrounding environment and navigate through an area without the involvement of humans using radar, GPS, computer vision technology.
With this technology becoming realistic many companies are expected to be part of the production and design of driverless vehicles. Companies such as UPS and Amazon are testing driverless commercial vehicles to improve operational efficiencies and reduce costs.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Commercial Vehicle Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Commercial Vehicle Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Commercial Vehicle Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Commercial Vehicle Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Commercial Vehicle Market Trends And Strategies
8. Impact Of COVID-19 On Commercial Vehicle
9. Commercial Vehicle Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Commercial Vehicle Market Regional Analysis
10.1. Global Commercial Vehicle Market, 2021, By Region, Value ($ Billion)
10.2. Global Commercial Vehicle Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Commercial Vehicle Market, Growth And Market Share Comparison, By Region
11. Commercial Vehicle Market Segmentation
11.1. Global Commercial Vehicle Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Light Commercial Vehicle
Buses And Coaches
11.2. Global Commercial Vehicle Market, Segmentation By Fuel Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Other Fuel Types
11.3. Global Commercial Vehicle Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Mining & Construction
11.4. Global Commercial Vehicle Market, Segmentation By Propulsion Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Commercial Vehicle Market Metrics
12.1. Commercial Vehicle Market Size, Percentage Of GDP, 2016-2026, Global
12.2. Per Capita Average Commercial Vehicle Market Expenditure, 2016-2026, Global
Toyoto Motor Corp.
General Motors Co.
Ford Motor Co.
Motor Co. ltd.
Bayerische Motoren Werke AG
Kia Motors Corp.
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