Commercial Vehicles (Trucks) Market 2021 Status and Outlook- Daimler, Volvo, Scania, Paccar, MAN, Navistar, Hino, Isuzu, Dongfeng, Toyota

Global Commercial Vehicles (Trucks) Market 2021 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Commercial Vehicles (Trucks) market size, demand and revenue. The current Commercial Vehicles (Trucks) market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

The Global Commercial Vehicles (Trucks) Market is expected to grow at a CAGR 5.23% during the forecast period (2021-2027).

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Commercial Vehicles (Trucks) Market: Daimler, Volvo, Scania, Paccar, MAN, Navistar, Hino, Isuzu, Dongfeng, FAW, Toyota and others.

Market Overview:

Light commercial vehicle (LCV) is a motor vehicle with at least four wheels and is used for the carriage of goods. LCVs have a specific mass given in tons (metric tons) and are used to differentiate between the light commercial vehicles and heavy trucks. This limit depends on national and professional definitions and varies between 3.5 and 7 tons. LCVs have a wider application in different industries, and due to this increased application across different industries, the demand for efficient and powerful light commercial vehicles has increased. Numerous companies have introduced their products across different parts of the globe, which has created a positive impact on the growth of the global market.

Industry News:

In December 2018, Daimler Trucks North America (DTNA) delivered the first Freightliner eM2 medium-duty electric truck to Penske Truck Leasing, which announced plans to put additional eM2 units into targeted service in its logistics, truck leasing, and truck rental fleets.

In May 2020, BYD Europe announced its plans to launch an e-truck range in the European market. It plans to introduce a full range of battery electric vehicles (BEV) in the commercial vehicle sector, including a panel van, 7.5 metric ton, and 19 metric ton rigid distribution trucks, which are underway.

In February 2020, Volvo Trucks displayed its North American Class 8 battery-electric project trucks in Fontana, California. In Europe, Volvo Trucks recently started the sales of electric trucks for urban transport and demonstrated electric concept trucks for construction operations and regional distribution.

In January 2020, Isuzu Motors Limited and Honda R&D Co., Ltd, an R&D subsidiary of Honda Motor Co., Ltd., signed an agreement to undertake joint research on heavy-duty trucks, utilizing fuel cells as the powertrain.

In March 2020, BYD received an order from the South American public transport provider, Transcarsell. The company from Ecuador ordered 20 electric trucks from BYD for delivery by 2021, the first of which is scheduled for August 2020.

In June 2020, Volkswagen AG signed a contract with Ford for joint projects on commercial vehicles, EVs, and autonomous driving. Both players will collaborate on commercial vehicles, including City Van, created and built by Volkswagen Commercial Vehicles, the 1-ton cargo van engineered by Ford, and the Volkswagen medium pickup, built on the Ford Ranger platform from 2022.

In April 2021, Toyota further expanded its electric line-up choice with its new PROACE and PROACE Verso Electric, thus, adding a powerful new dimension to its Toyota Professional range of light commercial vehicles.

In February 2021, Daimler Truck AG and Cummins Inc. announced global plan for developing medium-duty commercial vehicle engine systems. This partnership focuses on identifying potential synergies in areas such as powertrain components and engine system components.

Global Commercial Vehicles (Trucks) Market Split by Product Type and Applications:

This report segments the global Commercial Vehicles (Trucks) market on the basis of Types are:

Light Duty

Medium Duty

Heavy Duty

On the basis of Application, the Global Commercial Vehicles (Trucks) market is segmented into:

Construction

Industrial

Oil & Gas

Others

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Regional Analysis For Commercial Vehicles (Trucks) Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Influence of the Commercial Vehicles (Trucks) Market Report:
-Comprehensive assessment of all opportunities and risks in the Commercial Vehicles (Trucks) market.
-The detailed study of business strategies for the growth of the Commercial Vehicles (Trucks) market-leading players.
-Conclusive study about the growth plot of the Commercial Vehicles (Trucks) market for forthcoming years.
-In-depth understanding of Commercial Vehicles (Trucks) market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Commercial Vehicles (Trucks) market.

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What are the market fundamentals that are described in this 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: The Global Commercial Vehicles (Trucks) 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, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, researchers throw light on the pinpoint analysis of Global Commercial Vehicles (Trucks). It also measures the sustainable trends and platforms which are the basic roots behind the market growth. The degree of competition is also measured in the research report. With the help of SWOT and Porter’s five analysis, the market has been deeply analyzed. It also helps to address the risk and challenges in front of the businesses. Furthermore, it offers extensive research on sales approaches.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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