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(MoneyNewsWire.Net, July 26, 2018 ) Commercial vehicles manufacturers manufacture complete light trucks and utility vehicles such as light duty vans, minivans, pick-up trucks and sports utility vehicles, and complete heavy-duty trucks, buses, coaches, heavy duty motor homes and other special purpose heavy duty motor vehicles for highway use.
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The global commercial vehicles market was valued at $1.7 trillion in 2017. Among regional markets, Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market share. The market saw a growth due to increase in new vehicle sales in rapidly developing countries such as China and India owing to rise in disposable income, increased demand for vehicles, availability of credit and low fuel prices.
The market in the report is segmented into: light commercial vehicle, heavy trucks, buses and coaches.
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China was the largest country in the market, accounting for around one-third of the global commercial vehicles market share. China was followed by the USA and Germany as the next largest countries in the market.
The top five competitors in the market are Daimler AG followed by Volvo Group, Man Truck & Bus, Hino Motors and Scania. Daimler is a German multinational automotive corporation. Daimler AG is headquartered in Stuttgart, Baden-Württemberg. Daimler is the thirteenth-largest car manufacturer and is the largest truck manufacturer in the world.
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