The global Commercial vehicles Market was valued at $1.82trillion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $3.7 trillion.
Commercial vehicles are any vehicles which are used to passenger or transports for the profit of business-like box trucks, van, coaches, bus, semi trucks etc. it is used for goods to move from one place to another, get peoples to one destination to another, to get employees or people to their respective workplace or destination. It includes heavy vehicles which carry a large number of passengers at a time. Commercial vehicles may be company cars, fleet vehicles or other vehicles which are specially used for the purpose of business. It is mainly used for commercial or business purpose & is a source of income. these are mainly a leased vehicle in the name of the financial institution that owns it.
“Optimal Price Point (OPP) for Commercial vehicles”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in U.S.Commercial vehicles are available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Commercial vehicles Market “by Product Categories”
We have segmented the Commercial vehicles based on product categories as Buses & Coaches, LCVs.
We have observed the significant use of commercial vehicles by LCVs in the different industry which dominates the market. It is mainly used for commercial or business purpose & is a source of income. these are mainly a leased vehicle in the name of the financial institution that owns it like. LCV is able to move merchandise quickly particularly in cities & are beginning to make up a considerable proportion of fleet which demands the LCV products by commercial vehicles market over the forecast periods.
Commercial vehicles Market by “End-Use”
We have segmented the Commercial vehicle’s market based on End-Use are Industrial, Mining & Construction, Logistics.
We have observed the main use of a commercial vehicle in the logistics sector. Due to rising in trade activities the commercial vehicles are suitable for the transportation of majority of the cargoes & these are most favorable &light-weighting for transporting voluminous good which raises the demand of commercial vehicles over the forecast period.
North America accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Commercial vehicles market followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2017, North America held the largest share for commercial vehicles market due to the demand for commercial cars, trailers & trucks. The Asia Pacific is expected to have the highest growth due to China & this would be followed by Europe.
Rising demands for transportation of goods & Passenger with the increasing populations generates a demand for commercial vehicles. We are observing that Commercial vehicles are a good option as it can create a good impact on the Automotive sectors
“Competitive Landscape “and “Merger & Acquisition Insights”
The key market participants include General Motors, Volvo Car Corporation, Ashok Leyland, Volkswagen AG, Tata Motors, Chevrolet, Mahindra & Mahindra Ltd, Toyota Motor Corporation are few major players in Commercial vehicles markets. The market of Commercial vehicles is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Commercial Vehicles Market by product Categories (Revenue, Million, 2014 – 2025)
- Buses & Coaches
Commercial vehicles Market by End-Use (Revenue, Million, 2014 – 2025)
- Mining & Construction
Commercial vehicles Market Regional Outlook (Revenue, USD Million, 2014- 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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