Commercial Vehicle Global Market To Grow At Rate Of 11% Through 2026
June 24, 2022
The Business Research Company’s Commercial Vehicle Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, June 24, 2022 /EINPresswire.com/ -- According to ‘Commercial Vehicle Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the commercial vehicle market size 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 global commercial vehicles market is then expected to grow to $1,237.72 billion in 2026 at a CAGR of 11.1%. Advances in technology are expected to be a continued driver of market growth in the forecast period.
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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.
Global Commercial Vehicle Market Trends
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.
Global Commercial Vehicle Market Segments
The global commercial vehicle market is segmented:
By Type: Light Commercial Vehicle, Heavy Trucks, Buses and Coaches
By Fuel Type: Gasoline, Diesel, Others
By Application: Mining and Construction, Logistics, Passenger Transportation, Others
By Propulsion Type: IC Engine, Electric Vehicle
By Geography: The global commercial vehicles market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Commercial Vehicle Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides commercial vehicle global market overviews, commercial vehicle market analysis and forecasts market size and growth for the global commercial vehicle market, commercial vehicle market share, commercial vehicle global market segments and geographies, commercial vehicle market trends, commercial vehicle market players, commercial vehicle global market leading competitor revenues, profiles and market shares. The commercial vehicle market research report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Commercial Vehicle Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
Looking for something else? Here is a list of similar reports by The Business Research Company:
Commercial Electric Vehicles Global Market Report 2022
Heavy Trucks Global Market Report 2022
Buses And Coaches Global Market Report 2022
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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