PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1909959
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1909959
Servitization in the Light Commercial Vehicle Market, North America and Europe, 2024 and 2030
Diverse Business Models and Emerging Trends Are Driving Transformational Growth in Sales, Connectivity, Finance, and Aftermarket
In this analysis, Frost & Sullivan examines how servitization is reshaping the light commercial vehicle (LCV) industry. As the market shifts from product-centric to service-led models, LCV manufacturers are expanding their offerings beyond vehicle sales to include fleet management, predictive maintenance, telematics, flexible ownership models, and real-time data insights, all aimed at improving efficiency and customer loyalty.
Driven by digital connectivity and rising customer expectations, servitization enables OEMs to generate recurring revenue, strengthen long-term relationships, and remain resilient in the face of market volatility. The growing emphasis on electrification, sustainability, and optimized fleet operations is accelerating this evolution. New service models, such as maintenance-as-a-service, usage-based financing, EV charging support, and driver training, are helping customers reduce the total cost of ownership and improve fleet uptime.
For LCV manufacturers, servitization is now a strategic path to future readiness. By aligning with digital and sustainable mobility trends, OEMs are positioning themselves as long-term partners to fleet operators, driving growth and leadership in a rapidly evolving ecosystem.
The study covers 2024 as the base year and 2030 as the forecast year, assessing opportunities across four areas: general sales and allied services, connected services, financial services, and aftermarket services.
Table of Contents
Transformation in the Business for Light Commercial Vehicles
- Why Is It Increasingly Difficult to Grow?
- The Strategic Imperative 8
- The Impact of the Top 3 Strategic Imperatives on the Light Commercial Vehicle Industry
Ecosystem
- Research Scope
- Market Segmentation
- Project Objectives and Benefits of Servitization
- Servitization Opportunities in Commercial Vehicles
- General Sales and Allied Services
- Connected Services
- Financial Services
- Aftermarket Services
Growth Environment
- Profit Pool: Europe
- Profit Pool: North America
- Attractiveness of Services
General Sales and Allied Services
- LCV Sales
- AI Data-Driven Sales Services for Dealers, Software Updates, and Hardware Upgrades
- Company-Owned and Operated Stores, Driver Training, and Closed-Circle Lifecycle Financing
- Profit Pool: Europe
- Profit Pool: North America
- Attractiveness of General Sales and Allied Services
Connected Services
- Fleet Management, Data Subscription, and Fleet Optimization Consulting
- Logistics Load Aggregation Services and LCV Toll, Parking, and Fueling Services/In-Vehicle Payment Services
- Maps/Telematics and Driver Services
- Profit Pool: Europe
- Profit Pool: North America
- Attractiveness of Connected Services
Financial Services
- LCV Insurance Services, Credit Insurance, and Roadside Assistance
- LCV Refinancing Solutions and Smart Financing
- Profit Pool: Europe
- Profit Pool: North America
- Attractiveness of Financial Services
Aftermarket Services
- Tires as a Service and Battery as a Service
- Vehicle Service Contracts and Component Sales of Value/Second-Line Parts
- AI-Driven Maintenance Services for Dealers and Vehicle Scrappage Services
- Parts Supply to the Independent Aftermarket and Training for Mechanics
- Profit Pool: Europe
- Profit Pool: North America
- Attractiveness of Aftermarket Services
Growth Opportunities Universe
- Growth Opportunity 1: Build Sustainable Revenue Models
- Growth Opportunity 2: Create Distinct Market Positioning
- Growth Opportunity 3: Enhance Business Stability and Customer Loyalty
Appendix & Next Steps
- Benefits and Impacts of Growth Opportunities
- Next Steps
- List of Exhibits
- Legal Disclaimer
