Regulations Limiting Capacity to Boost Light Commercial Vehicles Market
Light commercial vehicles are vehicles which carry mass varying between 3.5 tons to 7 tons, as per local regulations or standards. They are mainly used for carrying goods and are ideal for intra-city operations due to their compact size. Market Research Future (MRFR) has published an exhaustive report on global light commercial vehicles after a thorough analysis of the key trends and patterns governing the market over the forecast period of 2019-2025. MRFR has projected a CAGR of 4.5% during 2019-2025.
A combination of factors is stimulating the growth of the market. A prominent factor is the expanding e-commerce sector. Increasing spending capabilities of consumers and subsequent growth of the e-commerce industry has generated high demand within the light commercial vehicles market for transportation purpose. Rising trading activities across the globe along with the expanding transportation industry, whose growth is fueled by escalating expenditure on commutation has also reflected positively on the growth of the market.
By region, the light commercial vehicle market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
Volvo Group (Sweden), General Motors (US), Groupe PSA (France), Tata Group (India), Daimler AG (Germany), Hyundai Motor Company (South Korea), Dongfeng Motor Corporation (China), Volkswagen Group (Germany), Groupe Renault (France), and Ford Motor Company (US) are the notable players in the light commercial vehicles market.