Light Commercial Vehicles Market Research Report - Global Forecast till 2027

Global Light Commercial Vehicles Market Research Report: Information by Type (Trucks, Vans, Buses, Coaches, and Others), by Fuel Type (Diesel, Gasoline, and Electric), and by Region (North America, Europe, Asia-Pacific, and the RoW) - Forecast till 2027

ID: MRFR/AM/6257-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis:


Light commercial vehicles are primarily used for carrying goods and mass measured in tons to differentiate between light and heavy commercial vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), the light commercial vehicles are special vehicles, which are characterized in terms of gross vehicle weight (GVW). These vehicles have the maximum mass varying between 3.5 and 7 tons.


The stringent government norms related to emissions, rise in the global oil prices, and rising penetration of downsized engines in LCVs are the main factors for the growth of the global light commercial vehicle market. Additionally, the growth of electric era of electric automobiles will create opportunities for the manufacturers to invest and meet the demand for electric light commercial vehicles in the global market. However, the demand for downsized engines is expected to increase the LCVs price, which is expected to hinder the growth of the global light commercial vehicles market.


The automotive OEMs engaged in the manufacture and distribution of light commercial vehicles  aim at finishing the past inventory and start new production to meet the new emission standards, at the global level. Moreover, the automotive OEMs are shifting their preference from the production of passenger cars to the production of light commercial vehicles owing to urbanization and the rise in consumption of goods, around the globe. According to the Statistics Netherlands, a Dutch governmental institution, in 2017, there was a  2.2% y-o-y growth in transportation of goods by road in the domestic market, which has increased the demand for light commercial vehicles in the country . Additionally, there has been higher growth in the transportation of goods in Europe and Asia-Pacific by road than  rail or marine, owing to the massive growth in the sales of e-commerce products, which would further lead to the demand  for light commercial vehicles during the forecast period. Thus, the global light commercial vehicle market is estimated to witness ~4.5% CAGR during the period, 2019–2025.


Light Commercial Vehicles Market Segmentation Light Commercial Vehicles Market


The global light commercial vehicles market is segmented on the basis of type, fuel type, and region. On the basis of type, the market has been segmented into trucks, buses, vans, coaches, and others. The trucks segment is expected to dominate the market during the forecast period. Also, the vans segment is expected to lead the global light commercial vehicle market by type in terms of CAGR during the forecast period. On the basis of fuel type, the market has been segmented into diesel, gasoline, and electric. The diesel light commercial vehicle segment is estimated to dominate the market in terms of value and volume during the forecast period.


Geographically, the global light commercial vehicles market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the prominent market share during the forecast period owing to the growing domestic e-commerce industry leading to the strong growth of the transportation industry. On the other hand, Asia-Pacific is estimated to witness substantial growth in the global market with the rising automotive production in China, India, and ASEAN countries and stringent government regulations for emissions from the light commercial vehicles.


Key Players


The prominent players in the global light commercial vehicles industry include Daimler AG (Germany), Volvo Group (Sweden), Dongfeng Motor Corporation (China), Volkswagen Group (Germany), Tata Group (India), Ford Motor Company (US), Groupe PSA (France), General Motors (US), Hyundai Motor Company (South Korea), and Groupe Renault (France).


The report for global light commercial vehicles market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   ~4.5% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   type and fuel type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Daimler AG (Germany), Volvo Group (Sweden), Dongfeng Motor Corporation (China), Volkswagen Group (Germany), Tata Group (India), Ford Motor Company (US), Groupe PSA (France), General Motors (US), Hyundai Motor Company (South Korea), and Groupe Renault (France)
  Key Market Opportunities   growth of electric era of electric automobiles
  Key Market Drivers

  • stringent government norms related to emissions
  • rise in the global oil prices
  • rising penetration of downsized engines in LCVs


  • Frequently Asked Questions (FAQ) :


    The light commercial vehicles market is poised to register 4.5% CAGR.

    Increasing demand for downsized vehicles, implementation of emission laws, and rising fuel prices are few of the driving factors of the light commercial vehicles market.

    A rise in price of these vehicles is expected in the coming years, which might challenge the growth of the market.

    The type-based segments of the light commercial vehicles market are trucks, vans, coaches, buses, and others

    The players anticipated to catalyze growth of the light commercial vehicles market are Daimler AG (Germany), Dongfeng Motor Corporation (China), Volvo Group (Sweden), Volkswagen Group (Germany), Ford Motor Company (US), Tata Group (India), Groupe PSA (France), Hyundai Motor Company (South Korea), General Motors (US), and Groupe Renault (France).