Light Commercial Vehicle Market to Grow by 190 Thousand Units Between 2020-2024 Despite COVID-19 Spread | Technavio

LONDON--()--Technavio has been monitoring the light commercial vehicle market and it is poised to grow by 190 thousand units during 2020-2024, progressing at a CAGR of about 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the light commercial vehicle market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by type, which is the leading segment in the market?
    The conventional fuel vehicles segment led the market in 2019.
  • What are the major trends in the market?
    The integration of telematics systems in LCVs is the major trend in the market.
  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of about 1% during 2020-2024.
  • Who are the top players in the market?
    Daimler AG, Ford Motor Co., General Motors Co., Groupe PSA, Hinduja Group Ltd., Hyundai Motor Co., Mahindra & Mahindra Ltd., Renault SA, Tata Motors Ltd., and Toyota Motor Corp. are the top players in the market.
  • What are the key market drivers and challenges?
    The market is driven by the rising preference for pickup trucks in emerging countries. However, the increased prices of LCVs might hamper growth.
  • How big is the North America market?
    North America dominated the market in 2019 with a 95% share.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Daimler AG, Ford Motor Co., General Motors Co., Groupe PSA, Hinduja Group Ltd., Hyundai Motor Co., Mahindra & Mahindra Ltd., Renault SA, Tata Motors Ltd., and Toyota Motor Corp. are some of the major market participants. Although the rising preference for pickup trucks in emerging countries will offer immense growth opportunities, the increased prices of LCVs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this light commercial vehicle market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Light Commercial Vehicle Market 2020-2024: Segmentation

Light Commercial Vehicle Market is segmented as below:

  • Type
    • Conventional Fuel Vehicles
    • Alternative Fuel Vehicles
  • Geography
    • North America
    • APAC
    • Europe
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR45690

Light Commercial Vehicle Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The light commercial vehicle market report covers the following areas:

  • Light Commercial Vehicle Market Size
  • Light Commercial Vehicle Market Trends
  • Light Commercial Vehicle Market Industry Analysis

This study identifies the integration of telematic system in LCVs as one of the prime reasons driving the Light Commercial Vehicle Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Light Commercial Vehicle Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist light commercial vehicle market growth during the next five years
  • Estimation of the light commercial vehicle market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the light commercial vehicle market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of light commercial vehicle market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Conventional fuel vehicles - Market size and forecast 2019-2024
  • Alternative fuel vehicles - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Groupe PSA
  • Hinduja Group Ltd.
  • Hyundai Motor Co.
  • Mahindra & Mahindra Ltd.
  • Renault SA
  • Tata Motors Ltd.
  • Toyota Motor Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Light Commercial Vehicle Market will grow by 0.19 mn units during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/