Light Commercial Vehicle (LCV) Market in Europe 2015-2019
About Light Commercial Vehicle
Light commercial vehicles refer to vehicles with a GVWR of less than 3.5 tonnes. These are commonly used for government and social organisations, public transportation, and logistics market in Europe.
Technavio analysts forecast the light commercial vehicle market in Europe to grow at a CAGR of 11.42% during 2014-2019.
Covered in this Report
In this report, Technavio covers the present scenario and the growth prospects of the light commercial vehicle market in Europe for the period 2015-2019. We calculated the market size based on the unit sales registered for light commercial vehicles in Europe. We also present five key vendors and a detailed analysis of these vendors in the report. In addition, we discuss market growth drivers, challenges facing the vendors and the market as a whole, as well as key trends emerging in the market.
The Technavio report, namely Light Commercial Vehicle (LCV) Market in Europe 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. The report covers the market landscape in Europe and its growth prospects in the coming years.
Technavio Announces the Publication of its Research Report – Light Commercial Vehicle (LCV) Market in Europe 2015-2019
Technavio recognizes the following companies as the key players in the Light Commercial Vehicle (LCV) Market in Europe: Daimler Trucks, CNH Industrial, MAN, Renault and Volvo Trucks
Other Prominent Vendors in the market are: Anhui Jianghuai Automobile, AVTO VAZ, Ashok Leyland, Fiat Chrysler Automobiles, GM Corporation, GAZ, Hyundai, Isuzu Motors, Peugeot, PACCAR, Opel and Tata Motors
Commenting on the report, an analyst from Technavio’s team said: “Though the greatest potential in Europe for natural gas is likely to be in the heavy goods vehicle and marine/waterway sectors, the LCVs are not far behind in terms of growth. The sector has showed rapid growth in recent years where the number of NGVs has gone compared to 2008. Italy, Germany, and Sweden are some of the leading countries in Europe that have significant shares of NGVs in the LCV sector. For instance, Italy is the largest market for vehicles using natural gas as the source of fuel. The main reason for the growth of NGVs in Europe is a result of reduced tax on natural gas (as a fuel) and huge support from the government (in the form of subsidies to the OEMs).”
According to the report, a large number of LCVs are expected to reach the end of their product life cycles between 2015 and 2018. LCVs have a short life cycle of eight years owing to their intense commercial usage. LCV sales had an upsurge in 2007 and 2008 and this is likely to recur during the forecast period because of the number of LCVs expected to be replaced during this time. So, the rate of replacement purchases are expected to be considerably higher than they have been for the past few years. The demand from the replacement market is expected to drive the overall demand for LCVs in Europe for the forecast period.
Further, the report states that the rising cost of the LCV manufacturing components will be the main concern for LCV manufacturers.
Daimler Trucks, CNH Industrial, MAN, Renault, Volvo Trucks, Anhui Jianghuai Automobile, AVTO VAZ, Ashok Leyland, Fiat Chrysler Automobiles, GM Corporation, GAZ, Hyundai, Isuzu Motors, Peugeot, PACCAR, Opel, Tata Motors