Commercial Vehicles Market Size Worth $2.27 Trillion By 2025: Grand View Research, Inc.

SAN FRANCISCO, October 9, 2018 /PRNewswire/ --

The global commercial vehicles market [https://www.grandviewresearch.com/industry-analysis/commercial-vehicle-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RD1&utm_content=Content ]  size is expected to reach USD 2.27 trillion by 2025, according to a study conducted by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.1% during the forecast period. Increased urbanization, coupled with rising spending on infrastructure development in emerging economies such as China, India, and Turkey, are expected to drive the market over the forecast period. Several suppliers are shifting their focus on improving R&D capabilities while enhancing operational efficiency, which is also projected to play a pivotal role in boosting market growth.

(Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )

In addition, increasing penetration of electric commercial vehicles is also anticipated to contribute toward market expansion over the coming years. Adoption of electric vehicles (EVs) is primarily driven by need to meet emission reduction standards and regulations enforced by government bodies worldwide. Commercial vehicle telematics is another trend that is gaining traction and is anticipated to have a positive impact on the market over the forecast period.

To meet changing market needs, original equipment manufacturers (OEMs) across the globe are focusing on integrating innovative technologies, such as keyless entry/ignition, engine diagnostics, mobile connectivity, and an array of novel applications that assist in vehicle control. All these efforts by OEMs are expected to significantly contribute to global market growth over the coming years.

Browse full research report with TOC on "Commercial Vehicles Market Size, Share & Trends Analysis Report By Product (Buses & Coaches, LCVs), By End Use (Industrial, Mining & Construction, Logistics), By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/commercial-vehicle-market [https://www.grandviewresearch.com/industry-analysis/commercial-vehicle-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RD2&utm_content=Content ]

Further Key Findings From the Report Suggest: 

        
        - Expanding e-commerce industry and availability of easy finance options are
          anticipated to play a key role in boosting the commercial vehicles market growth
        - Increasing spending on infrastructural development and efforts taken by OEMs to
          provide value-added services focused on enhancing in-vehicle experience are projected
          to drive market demand
        - The global market is expected to register a volume-based CAGR of over 6.0% from 2018
          to 2025, primarily as a result of sustained economic activity in emerging markets
        - The light commercial vehicles (LCVs) segment recorded consistent growth from 2014 to
          2017 and this trend is expected to continue over the forecast period due to expansion
          into newer markets such as Africa and Southeast Asia
        - The logistics segment is anticipated to witness high demand for commercial vehicles,
          primarily due to rise in trade and e-commerce activities across the globe
        - Rapid urbanization and improving road infrastructure in Asia Pacific are projected to
          drive the region to register a revenue-based CAGR of more than 8.0% from 2018 to 2025
        - The market is marked by the presence of numerous participants such as Tata Motors,
          Volkswagen AG, Ashok Leyland, Volvo Car Corporation, and General Motors. These players
          implement various inorganic and organic growth strategies to maintain their presence
          and withstand intense competition.

Browse related reports by Grand View Research: 

        
        - Secure Logistics Market
          [https://www.grandviewresearch.com/industry-analysis/secure-logistics-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RL1&utm_content=Content ]
          - The global secure logistics market size was valued at USD 48.19 
          billion in 2015 owing to the increasing money circulation across the globe.
        - Material Handling Equipment Market
          [https://www.grandviewresearch.com/industry-analysis/materials-handling-equipment-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RL2&utm_content=Content ]
          - The global material handling equipment market size was 
          estimated at USD 24.2 billion in 2015.
        - Bearings Market
          [https://www.grandviewresearch.com/industry-analysis/bearings-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RL3&utm_content=Content ]
          - The global bearings market was estimated at USD 81.6 billion in 2015 
        - Internet of Things (IoT) in Warehouse Management Market
          [https://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-warehouse-management-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_RL4&utm_content=Content ]
          - The global Internet of Things (IoT) in 
          warehouse management market was valued at USD 2.27 billion in 2015

Grand View Research has segmented the global commercial vehicles market based on product, end use, and region: 

        
        - Commercial Vehicles Product Outlook (Volume, Thousand Units; Revenue, USD Billion,
          2014 - 2025) 
             - Light Commercial Vehicles (LCVs)
             - Heavy Trucks
             - Buses & Coaches
        - Commercial Vehicles End-use Outlook (Volume, Thousand Units; Revenue, USD Billion,
          2014 - 2025) 
             - Industrial
             - Mining & Construction
             - Logistics
             - Passenger Transportation
             - Others
        - Commercial Vehicles Regional Outlook (Volume, Thousand Units; Revenue, USD Billion,
          2014 - 2025) 
             - North America
                - U.S.
                - Canada
             - Europe
                - U.K.
                - Germany
                - France
                - Spain
                - Italy
                - Netherlands
                - Belgium
                - Sweden
                - Denmark
             - Asia Pacific
                - China
                - India
                - Japan
                - South Korea
                - Indonesia
                - Thailand
                - Australia
                - Malaysia
                - Singapore
                - Taiwan
             - Latin America
                - Brazil
                - Mexico
             - Middle East & Africa
                - South Africa
                - Turkey

Explore the BI enabled intuitive market research database, Grand View Compass [https://www.grandviewresearch.com/compass?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Oct09_Commercial_Vehicles_BI&utm_content=Content ] , by Grand View Research, Inc.

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

        

        Contact: 


        Sherry James


        Corporate Sales Specialist, USA


        Grand View Research, Inc.


        Phone: +1-415-349-0058


        Toll Free: 1-888-202-9519


        Email: sales@grandviewresearch.com

 

Web: https://www.grandviewresearch.com

    Photo: 
    https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.