Global C-Series Commercial Vehicle Market
The commercial vehicle market is booming, with new models being introduced at a rapid pace. This trend is thanks in part to the shifting needs of business owners and consumers. With so many options available, it can be hard to know which vehicle is right for your needs. In this blog post, we will introduce you to the global C-Series commercial vehicle market and help you decide which one is right for you.
The global commercial vehicle market is expected to grow at a CAGR of 7.5% during the forecast period 2019-2024, according to a report by MarketsandMarkets. This growth is mainly due to increasing demand from the construction and infrastructure sectors. The growing prevalence of automated driving and the increasing need for safe and efficient transportation are some of the key factors that are fueling this market.
The key players in this market include Daimler AG (Germany), Renault SA (France), Ford Motor Company (U.S.), General Motors Corporation (U.S.), Volvo AB (Sweden), Toyota Motor Corporation (Japan), MAN SE (Germany), and Navistar International Corporation (U.S.). These companies are engaged in developing, manufacturing, and selling commercial vehicles worldwide.
Some of the major players in this market are Daimler AG, Renault SA, Ford Motor Company, General Motors Corporation, Toyota Motor Corporation, MAN SE, and Navistar International Corporation. These companies are engaged in developing, manufacturing, and selling commercial vehicles worldwide.
The global commercial vehicle market is projected to grow at a CAGR of 7.5% during the forecast period 2016-2021. The growth of the commercial vehicle market can be attributed to the increasing demand for trucks, buses, and other transportation vehicles across different industries. The expanding infrastructure sector is another key driver of the global commercial vehicle market. The development of new transportation modes such as rail and road are also contributing to the growth of the market.
Some major players in the global commercial vehicle market include Daimler AG (Germany), Volkswagen AG (Germany), Volvo AB (Sweden), PSA Peugeot Citroen Automobiles (France), and Renault SA (France). These companies are focusing on various segments such as medium-duty trucks, heavy-duty trucks, buses, and vans. Some regional players such as Mahindra & Mahindra Limited (India) and MAN SE (Germany) are also competing in the global commercial vehicle market.
Commercial Vehicle Type Analysis
The global commercial vehicle market is estimated to be worth $2.41 trillion by 2026, with C-Series being the most popular type of commercial vehicles. The C-Series is a medium-sized van manufactured by the German automaker Daimler AG. It has been in production since 1997 and is currently sold in over 150 countries. The C-Series is available in both rear-wheel drive and all-wheel drive configurations.
The C-Series is considered a luxury van, and its features include: an eight-passenger seating layout; seven airbags; cruise control; alloy wheels; and a power sunroof. In terms of performance, the C-Series averages 26 mph on the highway and 21 mph in the city. Its fuel efficiency is also good, with operators able to achieve an EPA rating of 21 mpg in the city and 25 mpg on the highway for rear-wheel drive models and 24 mpg for all-wheel drive models.
C-Series Commercial Vehicle Sales by Region
The global C-Series Commercial Vehicle market is expected to grow at a CAGR of 7.2% during the forecast period 2018-2025. The key drivers for this market are increasing demand for commercial vehicles among various end users, such as transportation and logistics companies, retail establishments, and others. In addition, the adoption of advanced safety features across various regions is also contributing to the growth of this market.
North America is expected to lead the global C-Series Commercial Vehicle market in terms of revenue during the forecast period 2018-2025. This region is primarily driven by increasing demand from transportation and logistics companies in this region. Asia Pacific is second in terms of revenue and is expected to grow at a higher rate than North America over the forecast period 2018-2025. This region is primarily driven by increased adoption of advanced safety features across various regions, such as China and Japan. Europe is expected to grow at a lower rate than other regions over the forecast period 2018-2025. This region is primarily driven by stiff competition from other regional markets, such as North America and Asia Pacific.
Regional Outlook: APAC
The global C-Series commercial vehicle market is expected to grow at a compounded annual growth rate of 6.4% from 2018 to 2024, according to a new report by Grand View Research, Inc. The market is projected to reach $27.3 billion by 2024.
Asia Pacific is the leading region for the C-Series commercial vehicle market, accounting for more than half of the total market in 2018. China and Japan are the two major markets in Asia Pacific and are expected to dominate the regional market over the forecast period. The strong demand for vehicles in these countries will drive the C-Series commercial vehicle market growth in this region.
The other major regions include Europe, North America, and Latin America. Europe accounts for a significant share of the global C-Series commercial vehicle market and is projected to grow at a higher rate than other regions between 2018 and 2024. This is because of increasing demand from automotive manufacturers in Europe who are looking to adopt innovative technologies such as autonomous driving systems (ADS).
Regional Outlook: Americas
The commercial vehicle industry is expected to grow at a CAGR of 2.4% during the forecast period 2017-2022, according to a report by MarketsandMarkets. The growth is due to increasing demand for trucks and buses in developed countries such as the US and Canada, while emerging economies such as India and China are witnessing an increase in their bus fleets. Global C-Series Commercial Vehicle Market is segmented on the basis of engine type (diesel or gasoline), payload, body type, and region. On the basis of engine type, diesel cabs are more popular than gasoline cabs owing to their lower emissions. In terms of payload, medium-sized buses (with a payload up to 12 tons) are dominant. By body type, double-decker buses dominated the market in 2016 owing to their large carrying capacity and high seating capacity. Regionally, North America held the largest share of the global market in 2016 followed by Europe. Asia Pacific was slightly behind Europe in terms of market size.
Regional Outlook: Europe
The global commercial vehicle market is forecast to grow at a CAGR of 5.8% during the period 2019-2024, according to a new report by MarketsandMarkets. The market is expected to be worth $127.9 billion by 2024.
The major drivers of the growth in the global commercial vehicle market are:
Growing demand from the construction and infrastructure sectors owing to increasing investment in transportation infrastructure across various countries
Adoption of electric and hybrid vehicles for commercial purposes owing to their high fuel efficiency and reduced emissions
Increasing demand from the retail and e-commerce sectors for delivery vehicles that can carry large loads
Regional Outlook: Middle East and Africa
The global C-Series commercial vehicle market is expected to grow at a CAGR of 7.5% between 2015 and 2021. This market is witnessing high demand from the automotive industry owing to its fuel efficiency, low emissions, and versatile design.
Asia Pacific is estimated to account for the largest share in the global C-Series commercial vehicle market in 2015. The region is projected to witness growth due to growing demand from the infrastructure sector and increased adoption of alternative fuel vehicles. North America is also expected to be one of the key markets that will benefit from the growth of the C-Series commercial vehicle market during the forecast period. The region is witnessing an increase in investments in transportation infrastructure, which is anticipated to promote adoption of C-Series commercial vehicles. Europe is also expected to be one of the key regions that will experience growth in the C-Series commercial vehicle market during the forecast period. This growth can be attributed to increasing investments by automobile manufacturers in research and development (R&D) programs for new technologies, increasing government initiatives such as Tesla Model S tax exemption, and increasing demand for trucks that are efficient in terms of fuel consumption. Oceania is expected to exhibit moderate growth rate in this market due to high penetration rates of medium and heavy duty trucks in this region.