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Light Commercial Vehicle Global Market | Market Size, Share, Key Trends Analysis, Scope And Future Forecast
Light Commercial Vehicle Market Analysis
The Business Research Company's Light Commercial Vehicle Global Market Report 2023 identifies increase in online shopping as the major driver for the light commercial vehicle market's growth in the forecast period. As urbanisation 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 impacted online shopping owing to health concerns.
The global light commercial vehicle market size will grow from $568.17 billion in 2022 to $639.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global light commercial vehicle market size is expected to grow to $1,001.35 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the light commercial vehicle market are Daimler, Ford, Renault, Volkswagen, Ashok Leyland, Tata Motors.
A key trend in the light commercial vehicle market includes skateboard architecture is increasingly being preferred by manufacturers for high efficiency and productivity in light commercial vehicles. The skateboard architecture refers to an actual physical platform, which forms the floor of the vehicle and incorporates the battery. For instance, in February 2020, Hyundai partnered with Canoo, a Los Angeles-based company creating EVs, to jointly develop an electric vehicle (EV) platform. Hyundai and Kia's scalable skateboard architecture will provide a simplified and standardised development process for their electrified vehicles, and this will help reduce costs.
Read More On The Global Light Commercial Vehicle Market Report Here:
https://www.thebusinessresearchcompany.com/report/light-commercial-vehicle-global-market-report
The light commercial vehicle market is segmented -
1) By Vehicle Type: Passenger Van, Cargo Van, Pickup Trucks, Light Trucks, Mini Buses, Other Vehicle Types
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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the light commercial vehicle market.
The Business Research Company's "Global Light Commercial Vehicle Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Light Commercial Vehicle Market Include:
1. Executive Summary
2. Light Commercial Vehicle Market Characteristics
3. Light Commercial Vehicle Market Trends And Strategies
4. Light Commercial Vehicle Market - Macro Economic Scenario
5. Light Commercial Vehicle Market Size And Growth
……..
26. Africa Light Commercial Vehicle Market
27. Light Commercial Vehicle Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Light Commercial Vehicle Market
29. Light Commercial Vehicle Market Future Outlook and Potential Analysis
30. Appendix
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