Commercial Vehicles - Austria

Austria

In Austria, the Commercial Vehicles market is projected to reach 38.42k vehicles units in 2024.
The market is expected to experience an annual growth rate of -5.24% from 2024 to 2029, resulting in a projected market volume of 29.35k vehicles units by 2029.
This demonstrates the potential for growth in the Commercial Vehicles market.
Furthermore, the production of Commercial Vehicles market is expected to reach 11.64k vehicles units in 2029, further highlighting the growth potential of the market.
From an international perspective, it is worth noting that the in the United States is projected to have the highest sales volume of 11,630.00k vehicles units in 2024.
Austria's commercial vehicle market is witnessing a surge in demand for electric vans due to the country's commitment to reducing carbon emissions.

Definition

A commercial vehicle is a motor vehicle that is used for business or commercial purposes rather than personal use. These vehicles are designed and used for transporting goods and passengers or providing services in exchange for compensation. The specific definition of a commercial vehicle can vary from one jurisdiction to another, and it may encompass a wide range of vehicles, depending on their size, purpose, and usage.

Structure

The Commercial Vehicles market is structured into three markets:

Light Commercial Vehicles (LCVs): This market focuses on vehicles designed for the transportation of goods or provision of services on a relatively small scale. LCVs typically include vans, mini trucks, and small cargo vehicles used by businesses and individuals for local deliveries, trade, and various commercial applications. Light commercial vehicles are defined as vehicles meant for carrying goods or passengers with a gross vehicle weight rating (GVWR) of up to 3.5 tons with some variation based on specific vehicle models, designs, and regional regulations.
Buses: Buses are motor vehicles designed for the transportation of passengers, varying in size and capacity and ranging from small minibuses to large coaches. This market considers medium and heavy buses and coaches (MHBCs). The gross vehicle weight rating (GVWR) of MHBCs typically exceeds 3.5 tons.
Trucks: The Trucks market is dedicated to heavy-duty vehicles used for the transportation of goods over long distances. Trucks are motor vehicles designed to transport cargo, ranging from small delivery trucks to heavy-duty freight carriers. Only heavy commercial vehicles (HCVs) are considered in this market. HCVs are typically defined as vehicles with a GVWR of 16 tons or more.

Additional Information

The market includes the production and sales of commercial vehicles within a specific region, regardless of the brand or model. Private vehicles, recreational vehicles, construction, and agricultural vehicles, as well as specialty vehicles such as ambulances and fire engines, are not included in the Commercial Vehicles market.

Notable key players in the Commercial Vehicles market include industry giants such as Daimler AG, Volvo Group, and PACCAR Inc., as well as various regional manufacturers and specialized vehicle manufacturers. These companies play a pivotal role in shaping the market landscape and driving innovation within the industry.

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Market

Region

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Analyst Opinion

The Commercial Vehicles market in Austria has been experiencing steady growth over the past few years. Customer preferences in the Austrian Commercial Vehicles market have been shifting towards more fuel-efficient and environmentally friendly vehicles.

This trend is driven by increasing awareness of the importance of sustainability and the need to reduce carbon emissions. Customers are also looking for vehicles that offer advanced safety features and technology, as well as vehicles that are versatile and can be used for multiple purposes. One of the key trends in the Austrian Commercial Vehicles market is the growing demand for electric and hybrid vehicles.

This trend is in line with the global shift towards cleaner and greener transportation options. The Austrian government has been actively promoting the use of electric vehicles through various incentives and subsidies, which has further fueled the demand for these vehicles. Additionally, advancements in battery technology have improved the range and performance of electric vehicles, making them a viable option for commercial use.

Another trend in the market is the increasing popularity of light commercial vehicles, such as vans and pickup trucks. These vehicles are preferred by businesses and individuals for their versatility and practicality. They can be used for various purposes, such as transporting goods, delivering packages, and providing services.

The demand for light commercial vehicles is driven by the growth of e-commerce and the need for efficient last-mile delivery solutions. The Austrian Commercial Vehicles market is also influenced by local special circumstances. The country's mountainous terrain and harsh winters require vehicles that are capable of handling challenging road conditions.

This has led to a higher demand for vehicles with all-wheel drive and winter-specific features. Additionally, Austria has a strong tradition of craftsmanship and engineering, which is reflected in the quality and durability of its commercial vehicles. Underlying macroeconomic factors also play a role in the development of the Commercial Vehicles market in Austria.

The country has a stable economy with a high level of disposable income, which allows businesses and individuals to invest in commercial vehicles. Furthermore, the construction and transportation sectors have been growing steadily, creating a demand for vehicles that can support these industries. In conclusion, the Commercial Vehicles market in Austria is experiencing growth due to customer preferences for fuel-efficient and versatile vehicles, the increasing popularity of electric and light commercial vehicles, local special circumstances, and underlying macroeconomic factors.

This trend is expected to continue in the coming years as the demand for sustainable and efficient transportation solutions continues to rise.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of commercial vehicles.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.