Light Commercial Vehicle Market 2021 Analysis by Global Manufacturers - Daimler; Ford; Renault; Volkswagen; Ashok Leyland; Tata Motors

Global Light Commercial Vehicle Market Size and Forecast to 2021 – 2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Light Commercial Vehicle data that enhances the understanding, scope, and application of this report.

The study includes market share analysis and profiles of players such as Daimler; Ford; Renault; Volkswagen; Ashok Leyland; Tata Motors; SML Isuzu Limited; Toyota Motor; Groupe PSA; Nissan; Volvo AB; Anhui Jianghuai Automobile; Mahindra And Mahindra Limited; VE Commercial Vehicles Limited; Avtovaz; General Motors; Honda Motor.

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The global light commercial vehicle market is expected to grow from $440.87 billion in 2020 to $475.29 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $652.34 billion in 2025 at a CAGR of 8.2%.

Market Overview:

The stringent emission norms by the government related for CO2 emissions is expected to be a major challenge for the light commercial vehicles market. In the European Union (EU), LCV CO2 emission targets in 2017 were set at 175g/km. In April 2019, the EU imposed stricter CO2 emission standards on passenger cars and LCV and came into force in January 2020. According to the new regulation standards (Regulation (EU) No 2019/631), the average CO2 emission target is 147 grams of CO2 per kilometre. The new regulations focus on reducing average CO2 emission by 31% for LCVs by 2030 as compared to 2021. The commission will impose an excess emission premium on the manufacturer of $112.15 (95) for each g/km that is exceeded for all registered LCV if the manufacturer exceeds specific emissions target. The strict CO2 emission regulations impact the manufacturing expenditure and limit the growth of the light commercial vehicles market.

The increase in online shopping is expected to drive the light commercial vehicles market. As urbanization has increased, it has created new retail and e-commerce platforms that require efficient logistics, which could be fulfilled by light commercial vehicles (LCV). Moreover, the current pandemic situation has spike online shopping owing to the health concerns. According to Adobe Analytics, consumers in the USA spent $2.2 billion on November 2nd, 2020, a 31% increase in year-over-year growth and another $2.0 billion on November 3rd, 2020, which was a 27% year-over-year increase. Thus, increased demand for goods through e-commerce is pushing the use of LCV in logistics paving way for growth of the light commercial vehicles market.

Market Scope:

1) By Vehicle Type: Passenger Van; Cargo Van; Pickup Trucks; Light Trucks; Mini Buses; Others

2) By Fuel: Electric; Diesel; Gasoline

3) By Tonnage Capacity Type: Less Than 2.5 Tons; 2.5 To 3.5 Tons; More Than 3.5 Tons

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Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Organic Soft Drinks market.

Region Coverage: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Countries Coverage: USA, France, Germany, UK, China, Australia, India, Indonesia, Japan, South Korea, Russia, Brazil

The study objectives of this report are:

To study and analyze the global Light Commercial Vehicle size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2025, and forecast to 2030.
To understand the structure of Light Commercial Vehicle by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Light Commercial Vehicle manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Light Commercial Vehicle with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Light Commercial Vehicle submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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