PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1524232
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1524232
Class 1 Truck Market Size - By Fuel (Diesel, Gasoline, Hybrid, Electric), By Application (Personal, Commercial), By Product (Minivan, Cargo Van, SUV, Pickup Truck) & Forecast, 2024 - 2032
Global Class 1 Truck Market will indicate over 6% CAGR from 2024 to 2032, driven by urbanization and the rise of last-mile delivery demand.
According to UNFPA, more than half of the worlds population currently resides in cities and towns, and this number is expected to rise to approximately 5 billion by 2030.
As more people move to cities, the need for efficient delivery of goods directly to consumers doorsteps intensifies. Class 1 trucks, known for their compact size and maneuverability, are ideal for navigating urban environments and congested streets. They enable businesses to fulfill the rising volume of e-commerce orders swiftly and reliably. Additionally, the growing emphasis on quick and flexible delivery services boosts the demand for these trucks, supporting the expanding logistics and transportation needs in densely populated areas.
The overall class 1 truck industry is classified based on fuel, application, product, and region.
The commercial segment will depict a remarkable CAGR during 2024-2032, owing to evolving logistical needs and operational efficiencies. These trucks offer versatility in urban environments, where maneuverability and compact size are crucial for navigating congested streets and delivering goods efficiently. Additionally, advancements in technology and safety features enhance productivity and driver comfort, appealing to businesses seeking to optimize their fleets. Moreover, the economic benefits of lower operational costs and compliance with stringent emissions standards thrust adoption, making Class 1 trucks a preferred choice for various commercial applications in the competitive marketplace.
The gasoline sector will seize a noteworthy class 1 truck market share by 2032. Gasoline-powered trucks offer a practical solution for businesses and individual consumers seeking efficient transportation with lower initial purchase costs compared to alternative fuel options. The availability of gasoline fueling infrastructure is widespread, ensuring convenience and accessibility for users. Moreover, advancements in gasoline engine technology have improved fuel efficiency and reduced emissions, aligning with environmental regulations and consumer preferences for cleaner transportation solutions. These factors collectively contribute to the growing popularity of Class 1 trucks in the gasoline segment.
Europe class 1 truck market will record significant growth, with a promising CAGR during the forecast period. Stringent environmental regulations and urban congestion have prompted a shift towards smaller, more fuel-efficient vehicles like Class 1 trucks. These vehicles are well-suited for navigating narrow city streets and complying with emissions standards, making them ideal for urban logistics and last-mile delivery services. Additionally, the emphasis on sustainability and reducing carbon footprints aligns with the growing preference for electric and hybrid options within the Class 1 category. These trends underscore a broader movement towards cleaner and more efficient transportation solutions in Europe.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Component suppliers
- 3.2.3 Manufacturers
- 3.2.4 Service providers
- 3.2.5 Distribution channel
- 3.2.6 End users
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Rising trend towards outdoor recreation and adventure
- 3.8.1.2 Expanding gig economy and last-mile delivery services
- 3.8.1.3 Growing trend of home renovation and DIY projects among homeowners
- 3.8.1.4 Rapid urbanization and population growth in suburban areas
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Limited payload capacity and towing capability
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Fuel, 2021 - 2032 ($Mn & Units)
- 5.1 Key trends
- 5.2 Diesel
- 5.2.1 Minivan
- 5.2.2 Cargo van
- 5.2.3 SUV
- 5.2.4 Pickup truck
- 5.3 Gasoline
- 5.3.1 Minivan
- 5.3.2 Cargo van
- 5.3.3 SUV
- 5.3.4 Pickup truck
- 5.4 Hybrid
- 5.4.1 Minivan
- 5.4.2 Cargo van
- 5.4.3 SUV
- 5.4.4 Pickup truck
- 5.5 Electric
- 5.5.1 Minivan
- 5.5.2 Cargo van
- 5.5.3 SUV
- 5.5.4 Pickup truck
- 5.6 Others
- 5.6.1 Minivan
- 5.6.2 Cargo van
- 5.6.3 SUV
- 5.6.4 Pickup truck
Chapter 6 Market Estimates & Forecast, By Product, 2021 - 2032 ($Mn & Units)
- 6.1 Key trends
- 6.2 Minivan
- 6.3 Cargo van
- 6.4 SUV
- 6.5 Pickup truck
Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032 ($Mn & Units)
- 7.1 Key trends
- 7.2 Personal
- 7.3 Commercial
Chapter 8 Market Estimates & Forecast, By Region, 2021 - 2032 (($Mn & Units)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Russia
- 8.3.6 Belgium
- 8.3.7 Sweden
- 8.3.8 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Indonesia
- 8.4.6 Thailand
- 8.4.7 Vietnam
- 8.4.8 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
- 8.6 MEA
- 8.6.1 South Africa
- 8.6.2 UAE
- 8.6.3 Saudi Arabia
- 8.6.4 Iran
- 8.6.5 Turkey
- 8.6.6 Rest of MEA
Chapter 9 Company Profiles
- 9.1 Ford Motor Company
- 9.2 General Motors
- 9.3 Stellantis (previously Fiat Chrysler Automobiles)
- 9.4 Toyota Motor Corporation
- 9.5 Nissan Motor Co.
- 9.6 Honda Motor Co.
- 9.7 Hyundai Motor Company
- 9.8 Mercedes-Benz Group
- 9.9 Volkswagen AG
- 9.10 Renault SA
- 9.11 Peugeot SA (part of Stellantis)
- 9.12 Isuzu Motors Ltd.
- 9.13 Mitsubishi Motors Corporation
- 9.14 Mahindra & Mahindra Ltd.
- 9.15 Tata Motors
