Commercial Vehicle Market 2018 Key Vendor by Navistar International, Kenworth ,Mack Trucks, Daimler AG, Volvo Group

Commercial Vehicle Market

The global commercial vehicle market is expected to grow at a rapid pace over the forecast. The market of commercial vehicle is driven by numerous factors, such as industrial sector expansion in emerging markets and developing economies, and growing commercial business & demand for transportation for logistics services. The global market for commercial vehicle is expected to cross 29 million units, by 2020.

GROWING CONSTRUCTION ACTIVITIES IN ASIA-PACIFIC REGION

With the growing construction activities in the region, especially in countries, such as India, ASEAN Countries, and China, the demand for transportation and logistics have been consistently increasing. Governments in the region have been continually investing in infrastructural projects, such as road construction, and power plants, and commercial and non-commercial projects, such as residential buildings, hotels, high rise buildings, stadiums, malls, and educational institutions, due to growing business opportunities and travel & tourism sector, in the region. Consequently, propelling the demand for commercial vehicles for both transportation of raw materials and the waste generated.

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Key Developments in the Commercial Vehicle Market

May 2018: Mercedes-Benz trucks to be made in Pakistan.
May 2018: Ashok Leyland posted total sales of 12,677 units, compared to sales of 7,090 vehicles in the same month, last year.

Commercial Vehicle Market Major Players:

Navistar International. ,Kenworth. ,Mack Trucks.,Daimler AG.,Volvo Group.

Reasons to Purchase Commercial Vehicle Market Report

Analyzes various perspectives of the market with the help of Porter’s five forces analysis
The vehicle type that is expected to dominate the market
The countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)

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GEOGRAPHICAL ANALYSIS of Commercial Vehicle Market

North America is still the largest manufacturer of commercial vehicles (light commercial vehicles and heavy commercial vehicles combined) and also witnessed the highest sales in 2017, with growing demand for commercial vehicles from Mexico and Canada. However, Asia-Pacific is becoming the production hub for commercial vehicles, especially the low-cost Asian countries. However, in terms of manufacturing of heavy-trucks, Asia-Pacific region dominated the global market in 2017. Additionally, the region is expected to witness a strong demand for commercial vehicles, over the forecast period, owing to the growing construction industry in the region, with consistent rise in infrastructure projects (due to rapid urbanization and growing need for safe and efficient public transportation) in countries, such as China, India, and ASEAN countries, such as Philippines.

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