Overview of the global commercial vehicle cabin market
Market research analysts at Technavio predict that the global commercial vehicle cabin market will grow steadily at a CAGR of close to 3% by 2021. This market research analysis identifies the increasing demand for commercial vehicles as one of the primary growth factors for this market. The growing demand for transportation and the explosion of e-commerce and online shopping in cities and towns across the globe are increasing the demand for commercial vehicles. Additionally, the increasing investments by the governments towards infrastructural activities such as road construction and building cities also drive the demand for commercial vehicles (CV), which subsequently boosts the growth of the CV cabin market. Furthermore, the demand for LCVs is strong due to the growth in the home delivery sector and the growing trend of delivering goods during late hours and early mornings.
One of the latest trends that will gain traction in the commercial vehicle cabin market in the coming years is the demand for improved cabins from the emerging economies. The economic growth of the emerging economies, the rising urbanization, and the increased consumer awareness about in-vehicle entertainment and information systems in the vehicle cabin will boost the demand for these technologically advanced systems. Tata Motors in India already has its own telematics and fleet management services, known as Tata FleetMan.
Competitive landscape and key vendors
The commercial vehicle cabin market appears to be competitive due to the presence of numerous international vendors. The vendors in this market compete on parameters such as price, comfort and convenience features, and customization. It is crucial for vendors in this market to differentiate the products to attract the customers and survive in this competitive environment.
The leading vendors in the market are -
Ford Motor Company
The other prominent vendors in the market include Ashok Leyland, Tata Motors, MAN (MAN Truck & Bus Company), and Hyundai Motor.
Segmentation by vehicle type and analysis of the commercial vehicle cabin market
During 2016, the LCVs segment accounted for the major shares of this global market. The growing demand for convenience features such as air conditioning, heater, audio systems, and ergonomic seats among the consumers, is driving the demand for LCVs fitted with these features. The increased usage of LCVs for transporting goods and passengers will contribute to the growth of the commercial vehicle cabin market in this segment during the next few years.
Geographical segmentation and analysis of the commercial vehicle cabin market
The increase in disposable incomes of people in the Americas region has resulted in the high demand for on-road CVs, which in turn, drives the sales of commercial vehicle cabins. According to this market research and analysis, the Americas will be the major revenue contributor to the commercial vehicle cabin market by 2021.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global commercial vehicle cabin market?
What are the key market trends impacting the growth of the global commercial vehicle cabin market?
What are the challenges to market growth?
Who are the key vendors in the global commercial vehicle cabin market?
What are the market opportunities and threats faced by the vendors in the global commercial vehicle cabin market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global commercial vehicle cabin market?
Technavio also offers customization on reports based on specific client requirement.
The commercial vehicle cabin is a compact space, exclusively for the driver. It has features like heating, cooling, sound system, and other comfort and convenience features which makes the journey comfortable for the driver while limiting the climatic extremities. Technavio’s insightful reports for the automotive industry cover a wide range of product markets including automotive manufacturing, automotive components, and automotive electronics. Besides offering vital information on various parameters, such as the shifts in consumer behavior and the factors that will push and pull the rise of the vendors in the automotive manufacturing industry’s marketspace, Technavio’s reports also present an extensive competitive analysis of the leading vendors in the automotive industry.
Our market research specialists follow a comprehensive research approach of primary and secondary methods and conduct a detailed study of various aspects, such as advancements in technology and the demand-supply shifts for markets in different geographical regions to effectively forecast the automotive manufacturing industry's growth prospects. With an aim to enable clients to formulate new policies for development, our upcoming industry research report on the global commercial vehicle cabin market for the forecasted years of 2017 to 2021 gives out relevant insights deduced from the data gathered from market sources such as manufacturers, channel partners, regulatory bodies, and decision makers.
This upcoming report on the global commercial vehicle cabin market also considers the growth of the related markets such as automotive camless engine and commercial vehicle infotainment system, which are expected to grow at a CAGR of almost 129% and about 13%, respectively by 2021. As analyzed by our market research analysts, the growing need for enhancing the overall in-vehicle experience for the driver is one of the central factors driving the automotive manufacturing market’s growth in the forthcoming years. Technavio also provides reports that have been customized to the specifications of various clients to aid global players establish their dominance in the automotive market.
The upcoming industry research report on the global commercial vehicle cabin market also identifies the prominent market drivers, emerging market trends, and the difficulties currently experienced by the automotive industry and also presents insights into auto accessories and wheels and tires.