The Business Research Company’s Commercial Vehicle global market report, covers the year-on-year growth of the global Commercial Vehicle market historic and forecast growth. It also includes chapters on the Commercial Vehicle market trends, geographical analysis, and competitive landscape.
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The global commercial vehicles manufacturing market size is expected to increase by 2022, significantly growing at a CAGR of around 7.5% during the forecast period.
Commercial Vehicle Market Trends
The commercial vehicles manufacturing market consists of sales of commercial vehicles by entities (organizations, sole traders and partnerships) that produce complete light trucks and utility vehicles such as light duty vans, minivans, pick-up trucks and sports utility vehicles, and complete heavy duty trucks, buses, coaches, heavy duty motor homes and other special purpose heavy duty motor vehicles for highway use.
Truck manufacturing companies are now using alternative drive systems to produce environmentally friendly low carbon emission trucks. Alternative drive systems are hydrogen-powered, electric or hybrid vehicles. They have significantly low carbon emissions, make use of renewable fuels and lower fuel costs by up to 50%. For example, Mercedes-Benz manufactures trucks with alternative drive systems using biogas as fuel, thus making them sustainable, inexpensive and CO2 neutral. Daimler has the world’s largest truck fleet with hybrid drives. Hybrid trucks are being commercially used in North America, Europe and Japan.
The global Commercial Vehicle market is primarily driven by rise in disposable income, growing population, demand of trucks in developing countries and growing infrastructure.
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The global Commercial Vehicle market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increase in growing demand of goods transportation and increase in economy, the global Commercial Vehicle market is expected to increase in potential and scope. TBRC’s report also covers the Commercial Vehicle drivers and restraints in the market.
The global Commercial Vehicle market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global Commercial Vehicle market report are Daimler AG, Volvo Group, Man Truck & Bus, Hino Motors, Scania.
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