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PUBLISHER: IMARC | PRODUCT CODE: 1291396
PUBLISHER: IMARC | PRODUCT CODE: 1291396
Commercial Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Market Overview:
The global commercial vehicles market size reached US$ 772.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 988.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.02% during 2023-2028.
Commercial vehicles are licensed for being used in the transportation of goods or materials. They can either be registered in the name of an individual as a sole proprietor or leased in the name of a financial institution. Their safety is improving on account of on-board and vehicle condition monitoring and driver aids like field-of-view cameras, journey management planning and route design. As a result, commercial vehicles find extensive applications in the logistics and transportation industries across the globe.
Commercial Vehicles Market Trends:
At present, there is a significant rise in the requirement for transportation of goods on account of the growing imports and exports around the world. This, in confluence with the rapid expansion of road infrastructure networks, represents one of the key factors bolstering the growth of the market. In addition, there is an increase in the electrification of commercial vehicles as they offer several advantages, including less air and noise pollution, reduced fuel consumption and maintenance costs, increased payload capability, and enhanced reliability. In line with this, governing authorities of numerous countries are imposing stringent emission regulations, which is positively influencing the adoption of electric vehicles (EVs) for commercial use. Apart from this, original equipment manufacturers (OEMs) are introducing commercial vehicles with features, such as accident warnings, traffic data, weather reports, and updates on road works. This, coupled with the rising construction and mining activities, which are increasing the need for material transportation worldwide, is fueling the growth of the market. Furthermore, various technological advancements, along with considerable growth in the automotive industry, are anticipated to create a positive outlook for the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial vehicles market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, propulsion type and end use.
Breakup by Vehicle Type:
- Light Commercial Vehicle
- Medium and Heavy-duty Commercial Vehicle
Breakup by Propulsion Type:
- IC Engine
- Electric Vehicle
Breakup by End Use:
- Industrial
- Mining and Construction
- Logistics
- Passenger Transportation
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, Ashok Leyland (Hinduja Group), Ford Motor Company, General Motors Company, Hyundai Motor Company, ISUZU Motors Limited, Mahindra & Mahindra Limited, Mercedes-Benz Group AG, Mitsubishi Motors Corporation, Robert Bosch GmbH, Tata Motors Limited, Toyota Motor Corporation and Volkswagen AG.
Key Questions Answered in This Report:
- What was the size of the global commercial vehicles market in 2022?
- What is the expected growth rate of the global commercial vehicles market during 2023-2028?
- What has been the impact of COVID-19 on the global commercial vehicles market?
- What are the key factors driving the global commercial vehicles market?
- What is the breakup of the global commercial vehicles market based on the vehicle type?
- What is the breakup of the global commercial vehicles market based on the propulsion type?
- What is the breakup of the global commercial vehicles market based on the end use?
- What are the key regions in the global commercial vehicles market?
- Who are the key players/companies in the global commercial vehicles market?
Product Code: SR112023A5460
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Commercial Vehicles Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Vehicle Type
- 6.1 Light Commercial Vehicle
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Medium and Heavy-duty Commercial Vehicle
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Propulsion Type
- 7.1 IC Engine
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Electric Vehicle
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by End Use
- 8.1 Industrial
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Mining and Construction
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Logistics
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Passenger Transportation
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 AB Volvo
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Ashok Leyland (Hinduja Group)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Ford Motor Company
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 General Motors Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Hyundai Motor Company
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 ISUZU Motors Limited
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Mahindra & Mahindra Limited
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Mercedes-Benz Group AG
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Mitsubishi Motors Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Robert Bosch GmbH
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 SWOT Analysis
- 14.3.11 Tata Motors Limited
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 Toyota Motor Corporation
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.13 Volkswagen AG
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 Financials
- 14.3.13.4 SWOT Analysis
- 14.3.1 AB Volvo
Product Code: SR112023A5460
List of Figures
- Figure 1: Global: Commercial Vehicles Market: Major Drivers and Challenges
- Figure 2: Global: Commercial Vehicles Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Commercial Vehicles Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Commercial Vehicles Market: Breakup by Vehicle Type (in %), 2022
- Figure 5: Global: Commercial Vehicles Market: Breakup by Propulsion Type (in %), 2022
- Figure 6: Global: Commercial Vehicles Market: Breakup by End Use (in %), 2022
- Figure 7: Global: Commercial Vehicles Market: Breakup by Region (in %), 2022
- Figure 8: Global: Commercial Vehicles (Light Commercial Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Commercial Vehicles (Light Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Commercial Vehicles (Medium and Heavy-duty Commercial Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Commercial Vehicles (Medium and Heavy-duty Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Commercial Vehicles (IC Engine) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Commercial Vehicles (IC Engine) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Commercial Vehicles (Electric Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Commercial Vehicles (Electric Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Commercial Vehicles (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Commercial Vehicles (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Commercial Vehicles (Mining and Construction) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Commercial Vehicles (Mining and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Commercial Vehicles (Logistics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Commercial Vehicles (Logistics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Commercial Vehicles (Passenger Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Commercial Vehicles (Passenger Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Commercial Vehicles (Other End Uses) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Commercial Vehicles (Other End Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: North America: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: North America: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: United States: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: United States: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Canada: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Canada: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Asia-Pacific: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Asia-Pacific: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: China: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: China: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Japan: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Japan: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: India: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: India: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: South Korea: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: South Korea: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Australia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Australia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Indonesia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Indonesia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Europe: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Europe: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Germany: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Germany: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: France: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: France: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: United Kingdom: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: United Kingdom: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Italy: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Italy: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Spain: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Spain: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Russia: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Russia: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Latin America: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Latin America: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Brazil: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Brazil: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Mexico: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Mexico: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Middle East and Africa: Commercial Vehicles Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Middle East and Africa: Commercial Vehicles Market: Breakup by Country (in %), 2022
- Figure 74: Middle East and Africa: Commercial Vehicles Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Global: Commercial Vehicles Industry: SWOT Analysis
- Figure 76: Global: Commercial Vehicles Industry: Value Chain Analysis
- Figure 77: Global: Commercial Vehicles Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Commercial Vehicles Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Commercial Vehicles Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
- Table 3: Global: Commercial Vehicles Market Forecast: Breakup by Propulsion Type (in Million US$), 2023-2028
- Table 4: Global: Commercial Vehicles Market Forecast: Breakup by End Use (in Million US$), 2023-2028
- Table 5: Global: Commercial Vehicles Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Commercial Vehicles Market: Competitive Structure
- Table 7: Global: Commercial Vehicles Market: Key Players
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