Commercial Vehicle Market

Commercial Vehicle Market Size, Share & Trends Analysis Report

Commercial Vehicle Market Size, Share & Trends Analysis Report By Vehicles Type (Trucks, Buses), By Propulsion Type(IC Engine, Electric Vehicle), By Power Source(Gasoline, Diesel, HEV / PHEV, Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Others) Based On Region, And Segment Forecasts, 2022 - 2029

Report ID : BMRC 128
Number of pages : 300
Published Date : Apr 2023
Category : Automotive And Transport
Delivery Timeline : 48 hrs

Commercial Vehicle Market is valued at USD 949.81 Billion in 2021 and expected to reach USD 1449.04 Billion by 2028 with the CAGR of 6.22% over the forecast period.

Scope of Commercial Vehicle Market Report:

Commercial Vehicle Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about commercial vehicle market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consists of regional segmentation with product type and applications.

Commercial Vehicle Market is defined as the market which provides the service of transporting good and people from one place to another in exchange of money. The market constitutes sub sectors like logistics, road freight forwarder, public transportation system except train and metro on land. It also covers all the regional and local land product transportation system which is carried out by different type of light, medium and heavy-duty vehicle like mini truck, flat bet truck, cargo van, passenger van, tow trucks, pickup trucks, lorries, coaches, trailers etc. There are many different types of vehicles are introduced in the market recently who uses alternative of traditional fuel like electricity or both traditional fuel and electricity which are deemed as the future of all vehicle and a great opportunity for various major players of commercial vehicle market.

Commercial Vehicle Market Key Players:

Commercial vehicle market report covers prominent leading players like

  • Daimler
  • Eicher
  • Ford Motor
  • Hyundai Motor
  • King Long United Automotive Industry Co. Ltd
  • MAN Truck and Bus
  • Mitsubishi Fuso Truck and Bus Corporation
  • Peugeot Citroen
  • Renault
  • SML Isuzu
  • Tata Motors
  • Toyota Motors
  • Volvo Trucks Corporation
  • Ashok Leyland
  • Bosch Rexroth AG
  • Volkswagen AG
  • Mahindra and Mahindra
  • Golden Dragon
  • General Motors
  • and others.

Commercial Vehicle Market Segmentation:

By Vehicles Type


  • Light Vehicles
  • Medium Vehicles
  • Heavy Vehicles


  • Coach / Motor coach
  • School Bus
  • Shuttle Bus
  • Minibus
  • Double-decker bus
  • Others

By Propulsion Type

  • IC Engine
  • Trucks
  • Buses
  • Electric Vehicle
  • Trucks
  • Buses

By Power Source

  • Gasoline
  • Diesel
  • HEV / PHEV
  • Battery Electric Vehicle (BEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Others

By End-Use

  • Mining & Construction
  • Industrial
  • Passenger Transportation
  • Logistics
  • Others

Regional Analysis:

The factors that are responsible for the commercial vehicle market to grow are increasing demand in developing countries of Asia pacific and Europe region, integration of telematic services, demand for specific transport solutions, rising popularity of fleet sharing, growth in ecommerce and logistics sector etc. now a days downsized engine blocks are used which have decreased weight, fuel efficiency and reduced vehicle emission. Introduction of downsized engine in to commercial vehicles reduces overall production cost of vehicles which in turn increases the demand for these types of vehicles. The logistics department’s demand has increased in recent years and it captured a sizeable share in market and expected to have CAGR of 7. 57%. the risk factor for commercial vehicle market is various concern of environmental pollution by governments of countries which in turn made them to put various restrictions on the manufacturing industry of commercial market.

By Regional & Country Analysis

North America
• U.S.
• Canada

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa
• Saudi Arabia
• Egypt
• South Africa
• Rest Of MEA

Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022 - 2028
Market Size in 2021: USD 949.81 Billion
Base year considered 2021
Forecast Period CAGR %:


Market Size Expected in 2028: USD 1449.04 Billion
Tables, Charts & Figures: 175
Pages 200
Commercial Vehicle Companies Daimler, Eicher, Ford Motor, Hyundai Motor, King Long United Automotive Industry Co. Ltd, MAN Truck and Bus, Mitsubishi Fuso Truck and Bus Corporation, Peugeot Citroen, Renault, SML Isuzu, Tata Motors, Toyota Motors, Volvo Trucks Corporation, Ashok Leyland, Bosch Rexroth AG, Volkswagen AG, Mahindra and Mahindra, Golden Dragon, General Motors, and others.
Segments Covered By Vehicles Type, By Propulsion Type, By Power Source, By End-Use
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Commercial Vehicle Market Report–

  • Global Commercial Vehicle Market report covers in depth historical and forecast analysis.
  • Global Commercial Vehicle Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
  • Global Commercial Vehicle Market report helps to identify opportunities in market place.
  • Global Commercial Vehicle Market report covers extensive analysis of emerging trends and competitive landscape.