Europe LCV Market 2021-2026 skyrocketed revenue with key players Volkswagen AG, Daimler AG, Groupe PSA, Ford Motor Company

Latest research on Europe LCV Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Europe LCV market. This report included a special section on the Impact of COVID19. Also, Europe LCV Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Europe LCV industry.

Europe LCV market is growing at a CAGR of 6% during the forecast period (2021-2026).

The Europe LCV market is highly competitive and consists of a number of major players. Top Companies like Volkswagen AG, Daimler AG, Groupe PSA, Ford Motor Company, Fiat Chrysler Automobiles NV, General Motors Company, Toyota Motor Corporation, Mitsubishi Motors Corporation, Hyundai Motor Company, Nissan Motor Company Ltd, Groupe Renault

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Industry News And Developments:

- In 2019, Renault launched hydrogen-electric commercial vehiclesMASTER Z.E. Hydrogen and KANGOO Z.E. Hydrogen. With hydrogen, the company is trying to increase the range of the vehicles from 120 km to up to 350km.

- In 2018, Nissan launched its e-NV200 electric van with a range of 124 miles and a 40 kWh battery pack. This e-NV200 has the feature of a bi-directional charging technology, which can be used to return excess energy stored in the battery back to the grid.

Scope of the Report

- Some of the major factors driving the growth of the market are a rise in e-commerce activities (which in turn, has resulted in the growth of the logistics industry), and the emergence of new ride-sharing platforms.

- Online retail sales and e-commerce have been rising, due to increased penetration of internet connectivity and smartphones. This is expected to result in increased purchase of LCVs for facilitating the timely delivery of items to buyers. The tough emission norms are forcing the vehicle manufacturers to reduce the weight of the vehicles, in order to comply with the emission standards. This has increased the use of lighter metals, such as aluminum, magnesium, and their alloys and lighter composites, such as carbon fiber, in the vehicles.

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Key Market Trends

E-commerce Driving the Commercial Fleet Segment

Road transportation accounts for the majority of freight transport in Europe. According to Eurostat, over 75% of inland cargo transports within the EU, i.e., about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European countries, this percentage goes as high as 90%, or more. The primary factor driving the growth of the market is the increased preference for pickup trucks and small vans over heavy-duty trucks and railways for logistics.

Increasing Demand for Vans

Registrations of new light commercial vehicles in the European Union reached 2.1 million units in 2019, a 2.8% year_on_year increase. The new WLTP emissions test was introduced for vans in September 2019has provided a boost in the demand of Van in the last quarter of 2019. Vans contribute to 80% of the total light commercial vehicle sales in Europe. They are used for a wide range of commercial activities, such as construction, postal and courier services, ambulance services, policing and rescue operations, mobile workshops, and passenger transportation.

In 2019 diesel-powered vans account for 92.8% of the new registration in the European Union, followed by those powered by petrol with 4.4% and alternative fuel vehicles with 1.3%. Diesel engine vans are used because of their high torque and efficient load carrying and towing capabilities.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Europe LCV Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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