LONDON--(BUSINESS WIRE)--Nov 27, 2020--
Technavio has been monitoring the light commercial vehicle market and it is poised to grow by 190 thousand units during 2020-2024, progressing at a CAGR of about 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Light Commercial Vehicle Market 2020-2024 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the light commercial vehicle market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Daimler AG, Ford Motor Co., General Motors Co., Groupe PSA, Hinduja Group Ltd., Hyundai Motor Co., Mahindra & Mahindra Ltd., Renault SA, Tata Motors Ltd., and Toyota Motor Corp. are some of the major market participants. Although the rising preference for pickup trucks in emerging countries will offer immense growth opportunities, the increased prices of LCVs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this light commercial vehicle market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Light Commercial Vehicle Market 2020-2024: Segmentation
Light Commercial Vehicle Market is segmented as below:
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Light Commercial Vehicle Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The light commercial vehicle market report covers the following areas:
This study identifies the integration of telematic system in LCVs as one of the prime reasons driving the Light Commercial Vehicle Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Light Commercial Vehicle Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Type
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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