About Light Commercial Vehicle
The light commercial vehicle is a motor vehicle with a minimum of four wheels, used for the carriage of goods and materials. In the light commercial vehicle, the weight limit of the goods varies between 3.5 tonnes to 7 tonnes. In June 2019, European light commercial vehicle registrations posted declines in German and Spanish markets. On the other hand, demand remained positive in the UK approximately +13.5% and, albeit more moderately, in Italy and France.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 1.85% |
The light commercial vehicle market is fragmented as the market has a number of companies that offer various products. The companies are exploring the market by expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Groupe PSA, Renault, Ford, and Daimler. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Light Commercial Vehicle market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Groupe PSA (France), Renault (France), Ford (United States), Daimler (Germany), Toyota Motor Corporation (Japna), General Motors (United States), GAZ Group (Russia), Tata Motors (India), Isuzu Motors Ltd. (Japan) and Ashok Leyland (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Volkswagen (Germany), Fiat Chrysler Automobiles (United Kingdom), Hyundai Motor Company (South Korea) and PACCAR Inc (United States).
Segmentation Overview
AMA Research has segmented the market of Global Light Commercial Vehicle market by Type (Gasoline, Diesel and Others), Application (Minibus, Light Commercial Truck, Vans and Others) and Region.
On the basis of geography, the market of Light Commercial Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. OEMs will boost the Light Commercial Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Number of Construction and E-commerce Activities in Emerging Economies is Creating Demand of the Market
Market Growth Drivers:
Increasing Transportation Industry Globally, Rising Disposable Incomes, and a Growing Middle Class and Growing Investment in Technological Advancement and Development of the Light Commercial Vehicle
Challenges:
Intense Competition Among the Competitors
Restraints:
Fluctuating Coast of the Raw Material
Opportunities:
Shift Toward Electric Vehicles is Projected to Provide Growth Opportunities for the Market
Market Leaders and their expansionary development strategies
In may 2023. Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 supplier of high-performance automotive grade LiDAR sensors and perception software, today announced that a major existing leading global automotive customer aims to expand its use of the InnovizTwo LiDAR to an existing light commercial vehicle program. With a mid-decade SOP target, the program is on an accelerated track, with an agreed framework, pending finalizing technical requirements and commercial terms.
In June 2023, Connected vehicle technology innovator Sibros and CUBONIC announce a strategic partnership to foster a greener future for last-mile transportation. This collaboration melds Sibros' profound expertise in connected-vehicle systems with CUBONIC’s groundbreaking eLCV solutions, notably its PeopleMover and CargoMover vehicles, to expedite the advent of autonomous driving and connected ecosystems in the last-mile transportation sector.
Key Target Audience
Light Commercial Vehicle Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.