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Global Light Commercial Vehicle Market 2017-2021

Global Light Commercial Vehicle Market 2017-2021

About Light Commercial Vehicle

Light commercial vehicle (LCV) is a commercial carrier of people and goods, which approximately comes under 8-ton category. Commercial vehicle manufacturers focus on launching newer models that are compliant with the latest emissions regulations to maintain good business profits. Rising air pollution levels are causing governing bodies to upgrade vehicular emissions regulations for commercial vehicles on intervals less than a year. Vehicle manufacturers are constricting the production of newer commercial vehicle models to allow the produced stock of commercial vehicles to be sold off before the implementation of upgraded emission norms. LCVs include light pickup trucks used for distribution and transportation of goods, especially in stop-and-go traffic, and for light construction and municipal applications.

Technavio’s analysts forecast the global light commercial vehicle market to grow at a CAGR of 0.96% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global light commercial vehicle market for 2017-2021. To calculate the market size, the report considers the production volume.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Light Commercial Vehicle Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ford Motor Company
  • Groupe PSA
  • Renault
Other prominent vendors
  • Anhui Jianghuai Automobile
  • Ashok Leyland
  • AVTOVAZ
  • Toyota Motor Corporation
  • GAZ Group
  • General Motors
  • Honda Motor Company
  • Hyundai Motor Company
  • ISUZU MOTORS
  • Mitsubishi Motors
  • Opel
  • PACCAR
  • Tata Motors
Market driver
  • Rising penetration of downsized engines in LCVs to drive vehicle price
  • For a full, detailed list, view our report
Market challenge
  • Implementation of fuel-efficiency standards will result in increased prices of LCVs
  • For a full, detailed list, view our report
Market trend
  • Electric LCVs used for facilitating last-mile connectivity
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Light Commercial Vehicle Market 2017-2021

Technavio recognizes the following companies as the key players in the global light commercial vehicle market: Ford Motor Company, Groupe PSA, and Renault

Other Prominent Vendors in the market are: Anhui Jianghuai Automobile, Ashok Leyland, AVTOVAZ, Toyota Motor Corporation, GAZ Group, General Motors, Honda Motor Company, Hyundai Motor Company, ISUZU MOTORS, Mitsubishi Motors, Opel, PACCAR, and Tata Motors.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Electric LCVs used for facilitating last-mile connectivity. Automotive makers are increasingly researching on raising the reliability of electric vehicles. Lack of proper charging stations and limited power capacity batteries are the main drawbacks of electric vehicles. Vehicle manufacturers are undertaking various experimental operations, involving usage of electric vehicles, to troubleshoot the various issues faced by the vehicle in a real-world scenario. However, unlike passenger cars, LCVs require more power to be effective in hauling passengers or cargo. Vehicle manufacturers have begun using electric LCVs in real-world scenarios to test reliability and endurance of electric LCVs.”

According to the report, one of the major drivers for this market is Rising penetration of downsized engines in LCVs to drive vehicle price. Vehicle manufacturers are increasingly developing downsized engine blocks for decreasing curb weight, improving fuel efficiency, and limiting the formation of emissions. Downsized engines are made to produce the same amount of power as that of higher-powered models. Most vehicle manufacturers equip turbochargers within diesel and gasoline engines to facilitate more air to be taken in for combustion. More air into the combustion chamber allows more fuel to burn and produce a much higher output, matching that of the higher-power variant.

Further, the report states that one of the major factors hindering the growth of this market is Implementation of fuel-efficiency standards will result in increased prices of LCVs. Implementation of fuel efficiency standards for LCVs will increase the prices of vehicles by about $4,500 per vehicle. Vehicle manufacturers will equip the vehicle's engine with numerous equipment to reduce the consumption of fuel. The global LCV market will have an increase of about $8 billion if fuel-efficiency standards are increased by 1 mpg. The US is planning to upgrade fuel-efficiency standards for the fleet of LCVs owned by LCV manufacturers during the forecast period. This is expected to increase the cost of LCVs considerably and lead to a decline in sales of LCVs by 2021.

Companies Mentioned

Ford Motor Company, Groupe PSA, and Renault, Anhui Jianghuai Automobile, Ashok Leyland, AVTOVAZ, Toyota Motor Corporation, GAZ Group, General Motors, Honda Motor Company, Hyundai Motor Company, ISUZU MOTORS, Mitsubishi Motors, Opel, PACCAR, and Tata Motors.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Segments of global commercial vehicle market
      • Table Global commercial vehicle market 2016-2021 (million units)
  • Market landscape
    • Market overview
      • Table Segmentation of global LCV market
    • Market size and forecast
      • Table Global LCV market 2016-2021 (millions of units)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by fuel type
    • Table Global LCV market segmented by fuel type
    • Table Global LCV market segmented by fuel ype (millions of units)
    • Table Global LCV market segmented by fuel type (% share)
    • Conventional fuel vehicles in global LCV market
      • Table Global conventional fuel LCV market 2016-2021 (million units)
    • Alternative fuel vehicles in global LCV market
      • Table Global alternative fuel LCV market 2016-2021(million units)
  • Geographical segmentation
    • Global LCV market by geography
      • Table Factors contributing to development of LCVs
      • Table LCV market segmentation by geography 2016 (% share)
      • Table LCV market segmented by geography 2016-2021 (million units)
      • Table LCV market segmented by geography 2016-2021 (% share)
    • LCV market in Americas
      • Table LCV market in Americas 2016-2021 (million units)
    • LCV market in APAC
      • Table LCV market in APAC 2016-2021 (million units)
    • LCV market in EMEA
      • Table Average lifespan of an LCV in Europe
      • Table LCV market in EMEA 2016-2021 (million units)
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Ford Motor Company
      • Table Ford Motor Company: Business segmentation by revenue 2016 (% share)
      • Table Ford Motor Company: Geographical segmentation by revenue 2016 (% share)
      • Table Ford Motor Company: Product portfolio
      • Table Ford Motor Company: Recent developments
    • Groupe PSA
      • Table Groupe PSA: Geographical segmentation by revenue 2016 (% share)
      • Table Groupe PSA: Product portfolio
      • Table Groupe PSA: Recent developments
    • Renault
      • Table Renault: Business segmentation by revenue 2016 (% share)
      • Table Renault: Geographical segmentation by revenue 2016 (% share)
      • Table Renault: Product portfolio
      • Table Renault: Product portfolio
      • Table Renault: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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