The commercial vehicles manufacturers manufacture 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 purpose heavy duty motor vehicles for highway use.
Commercial Vehicles Global Market Size
The global commercial vehicles market was valued at $1665.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $628.8 billion or 37.75% of the global market. China was the largest country accounting for $527.86 billion or 31.69% of the global commercial vehicles market.
Commercial Vehicles Global Market Trend
Truck manufacturing companies are now using alternative drive systems to produce environmentally friendly low carbon emission trucks. Alternative drive systems are hydrogen-powered, electric or hybrid vehicles. They have significantly low carbon emissions, make use of renewable fuels and lower fuel costs by up to 50%. For example, Mercedes-Benz manufactures trucks with alternative drive systems using biogas as fuel, thus making them sustainable, inexpensive and CO2 neutral. Daimler has the world’s largest truck fleet with hybrid drives. Hybrid trucks are being commercially used in North America, Europe and Japan.
The companies covered are Daimler AG, Volvo Group, Man Truck & Bus, Hino Motors, and Scania.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Commercial Vehicles Global Market Segmentation
The commercial vehicles market is segmented into Light Commercial Vehicle; Heavy Trucks; Buses; Coaches.
Light Commercial Vehicle comprises establishments primarily engaged in manufacturing complete light trucks and utility vehicles such as light duty vans, pick-up trucks, minivans, and sport utility vehicles.
Heavy Trucks comprises establishments primarily engaged in manufacturing complete heavy trucks and vehicles for the purpose of transporting bulk goods etc.
Buses comprises establishments primarily engaged in manufacturing buses for the purpose of transporting people and goods.
Coaches comprises establishments primarily engaged in manufacturing buses for the purpose of transporting goods.