Global Light and Medium Commercial Vehicle Market 2019-2023

Technavio’s market research analysts have predicted that the light and medium commercial vehicle market will register a CAGR of close to 6% by 2023. This industry research report presents a detailed analysis of the light and medium commercial vehicle market by the following applications: LCVs and MCVs. The report also presents an analysis of the market’s growth across the Americas, APAC, and EMEA.

Global Light and Medium Commercial Vehicle Industry Overview

Earlier, the penetration of pick-up trucks in the LCV markets in emerging countries like China and India was low, due to poor acceptance of their design among the end-users and high fuel consumption. High-powered engines of pick-up trucks produce considerable amounts of emissions; hence, countries like China banned the sales of pick-up trucks in the early 2000s. Nevertheless, China removed the ban on sales of pick-up trucks in 2016. This, in turn, increased exports of pick-up trucks to China. For example, post the removal of ban on sales of pick-up trucks in China, General Motors started exporting Silverado and Colorado pick-up trucks to China in 2017. Isuzu D-Max is the first pick-up truck to be launched in India in 2016. The vehicle is equipped with a 2.5 liter four-cylinder turbocharged diesel engine. Other pick-up trucks launched in India were Mahindra Bolero Camper, Tata Xenon XT, Mahindra Scorpio Getaway, and Mahindra Imperio. Thus, the increasing penetration of the pick-up trucks in emerging countries such as China and India will drive the global light and medium commercial vehicle market growth during the forecast period.

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Companies covered

The light and medium commercial vehicle market is fragmented since the market has a number of companies. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this light and medium commercial vehicle industry analysis report will aid clients identify new growth opportunities and design new growth strategies.  

The report offers a complete analysis of light and medium commercial vehicle manufacturers including:

• Daimler
• Ford Motor
• Hyundai Motor
• Toyota Motor
• Volkswagen

Light and medium commercial vehicle market growth based on geographic region:

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for the companies across the Americas, APAC, and EMEA, our industry research analysts have estimated that countries in the Americas will contribute to the highest share of this light and medium commercial vehicle market throughout the predicted period. However, countries in APAC will register the highest growth rate throughout the forecast period.

Light and medium commercial vehicle market growth based on vehicle-type

• LCVs
• MCVs

According to our market research experts, the LCVs segment will account for the maximum share of the market. Additionally, the report also provides an accurate prediction of the contribution of the various vehicle-type segments to the growth of the light and medium commercial vehicle market size.

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Key highlights of the global light and medium commercial vehicle market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the light and medium commercial vehicle market during the next five years
• Precise estimation of the global light and medium commercial vehicle market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Growth of the light and medium commercial vehicle industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of light and medium commercial vehicle companies

This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the global light and medium commercial vehicle market and its stakeholders over the forecast years. The global light and medium commercial vehicle market analysts at Technavio have also considered how the performance of other related markets in the vertical will impact light and medium commercial vehicle market size till 2023.

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