Light Commercial Vehicle Market Expansion Impacted by Pandemic
Light Commercial Vehicle Market Overview:
Light commercial vehicles (LCVs) are vehicles with a gross vehicle weight (GVW) of up to 3.5 tonnes. They are popular in the UK for a variety of purposes, including transporting goods and people, delivering services, and carrying equipment.
Here are some of the best light commercial vehicles in the UK:
- Ford Transit: The Ford Transit is a versatile and reliable van that is available in a variety of sizes and configurations. It is a popular choice for businesses of all sizes, as well as for individuals who need a spacious and capable vehicle.
Mercedes-Benz Sprinter: The Mercedes-Benz Sprinter is a premium van that is known for its high quality and durability. It is a popular choice for businesses that need a reliable and efficient van to transport goods and people.
Vauxhall Vivaro: The Vauxhall Vivaro is a practical and affordable van that is available in a variety of sizes and configurations. It is a popular choice for businesses of all sizes, as well as for individuals who need a reliable and spacious vehicle.
Peugeot Expert: The Peugeot Expert is a stylish and versatile van that is available in a variety of sizes and configurations. It is a popular choice for businesses of all sizes, as well as for individuals who need a reliable and spacious vehicle.
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When choosing a light commercial vehicle, it is important to consider the following factors:
- Size: What size vehicle do you need? Consider the amount of cargo or passengers you will be carrying.
- Payload: How much weight can the vehicle carry?
- Fuel efficiency: How important is fuel efficiency to you?
- Safety features: What safety features are important to you?
- Price: How much are you willing to spend?
Once you have considered these factors, you can start researching specific models. It is a good idea to read reviews and compare different models before making a decision.
You should also consider the type of business you are in when choosing a light commercial vehicle. For example, if you are a courier, you will need a vehicle with a spacious cargo area. If you are a construction worker, you will need a vehicle that is durable and can handle heavy loads.
Market Synopsis
In its recently released study, the Global Light Commercial Vehicles Market 2020 and their influence on the market are discussed. The light commercial vehicle market is expected to grow at a 4.5% annual rate of growth from 2019 to 2025, according to MRFR data. According to MRFR study, the value of the global market for light commercial vehicles might reach a significant level by 2025. Accompanying the paper is a comprehensive evaluation of the COVID-19 pandemic's effects on the light commercial vehicle industry.
Market Highlights
Light commercial vehicles are expected to benefit from the global upsurge in demand for electric light-duty trucks brought on by countries' stringent pollution requirements. In the upcoming years, this is anticipated to drive the market for electric commercial vehicles to grow. Additionally, it has been observed that rising oil prices increase sales of light commercial vehicles, which may encourage the worldwide market for light commercial vehicles to grow during the course of the review period. Furthermore, efforts by various governments to provide reasonably priced and efficient eLCVs may spur market growth in the years to come.
The increase in LCVs for commercial applications, such as carrying good and passengers can bolster the expansion of the market through the review period. The growing utility of vans, utility vehicles, goods carrying vans, buses, and light trucks can also impel the expansion of the light commercial vehicles. The increase in awareness about intra-city operations, fuel efficiency, and compact size features of the market can bolster the rise of the light commercial vehicle market through the review period.
Key Players
- Volvo Group (Sweden)
- Daimler AG (Germany)
- Volkswagen Group (Germany)
- Dongfeng Motor Corporation (China)
- Ford Motor Company (US)
- Tata Group (India)
- Groupe PSA (France)
- Hyundai Motor Company (South Korea)
- General Motors (US)
- Groupe Renault (France)
Segment Analysis
The segment assessment of the global light commercial vehicles market is done by fuel type and type.
The type based segments of the light commercial vehicles market are vans, trucks, buses, and coaches among others. The trucks segment can thrive at the highest growth rate due to increase in the demand for trucks for commercial purposes. The van segment is likely to stir up high revenue for the global market in the years ahead.
The fuel type based segments of the light commercial vehicles are electric, diesel, and gasoline. The rise in preference for diesel light commercial vehicles, following electric LCVs can impel the expansion of the market in the forecast period.
Regional Study
Trends of the light commercial vehicles market is studied across North America, EU, MEA, and Asia Pacific, following the Rest of the World.
North America light commercial market is expected to thrive in the years to come due to the expansion of the automobile sector across the analysis period. In Europe, the light commercial vehicle market can rise in the forecast period due to the development of the regional domestic e-commerce sector, following the expansion of the transportation industry across the study period.
In APAC, the expansion of the light commercial vehicle market can be attribute to the considerable surge in the automobile production. In addition, the gradual penetration of LCVs in ASEAN countries and the presence of stringent emissions in the region is expected to impel the expansion of APAC light commercial vehicles. Other regional factors that impact the market are elaborate in the report.
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