Light Commercial Vehicles - Austria

The Light Commercial Vehicles market in Austria is anticipated to witness a significant growth in the coming years.
By 2024, unit sales are projected to reach 33.02k vehicles.
This indicates a positive trajectory for the market in the country.
Furthermore, it is expected that the Light Commercial Vehicles market will continue to expand at a compound annual rate (CAGR 2024-2030) of 2.59%.
This growth is estimated to result in a market volume of 38.49k vehicles by 2030.
Interestingly, the production of Light Commercial Vehicles market in Austria is expected to reach 0.00 by 2030.
This signifies the potential for the market to grow further, as it indicates that the demand for these vehicles may surpass the domestic production capabilities.
From an international perspective, it is noteworthy that the United States is projected to have the highest sales volume in 2024, with a total of 13.20m vehicles units.
This underscores the significance of the US market in the global landscape of Light Commercial Vehicles market.
Austria's light commercial vehicle market is experiencing a surge in demand driven by the country's strong economy and growing e-commerce sector.

Definition

Light Commercial Vehicles (LCV) is a unique market of the broader Commercial Vehicles market, which focuses solely on vehicles designed to transport goods or to provide services on a relatively small scale. LCVs include a variety of compact and medium-sized vehicles specifically engineered for commercial purposes. These versatile vehicles are utilized by businesses and individuals for tasks such as local deliveries, trade, and various commercial applications. The gross vehicle weight rating of LCVs typically does not exceed 3.5 tons, although this limit may vary depending on the vehicle models, configurations, and local regulations.

LCVs are crucial for last-mile logistics, small business operations, and urban transportation. This market is highly responsive to emerging market trends, including the rise of eCommerce, the demand for sustainable transportation solutions, and the increasing need for versatile commercial vehicles that can adapt to a wide range of applications.

Additional Information

Notable key players in the Light Commercial Vehicles (LCVs) market include companies such as Ford, Mercedes-Benz, Fiat Professional, and Renault. These manufacturers play a vital role in shaping the market by offering a diverse range of LCV models and leading technological advancements within the market.

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Vans
Small delivery trucks
Refrigerated vans
Pickup trucks used for commercial purposes
Mini trucks
Light buses and coaches
Compact utility vehicles
Chassis cabs

Recreational vehicles (RVs)
Passenger cars
Motorcycles and scooters
Heavy-duty trucks
Agricultural and construction equipment

The Light Commercial Vehicles market in Austria has been experiencing significant growth in recent years. Customer preferences in the Austrian market have been shifting towards more fuel-efficient and environmentally friendly vehicles.

This trend is driven by increasing awareness of the impact of carbon emissions on the environment and the desire to reduce operating costs. As a result, there has been a growing demand for electric and hybrid light commercial vehicles in Austria. Another customer preference in the Austrian market is for vehicles with advanced safety features.

Austrian consumers place a high value on safety and are willing to pay a premium for vehicles that offer advanced safety technologies such as lane departure warning, adaptive cruise control, and automatic emergency braking. In terms of trends in the market, there has been a steady increase in the adoption of light commercial vehicles for last-mile delivery services. With the rise of e-commerce and online shopping, there has been a growing need for efficient and reliable delivery vehicles.

Light commercial vehicles are well-suited for this purpose due to their versatility, maneuverability, and cost-effectiveness. Additionally, the Austrian government has implemented policies and incentives to promote the use of electric and hybrid vehicles. These policies include tax incentives, grants, and subsidies for purchasing electric and hybrid vehicles.

This has further fueled the demand for electric and hybrid light commercial vehicles in the Austrian market. Local special circumstances in Austria also contribute to the growth of the light commercial vehicles market. Austria is known for its mountainous terrain and harsh winters, which require vehicles that are capable of navigating challenging road conditions.

Light commercial vehicles, with their robust design and all-wheel drive capabilities, are well-suited for these conditions. Furthermore, Austria has a strong tradition of craftsmanship and quality engineering, which is reflected in the vehicles produced by local manufacturers. Austrian consumers have a preference for locally produced vehicles, which has further boosted the demand for light commercial vehicles in the country.

Underlying macroeconomic factors, such as a stable economy and low unemployment rate, have also contributed to the growth of the light commercial vehicles market in Austria. With a strong economy and favorable business environment, businesses are more willing to invest in expanding their fleets and upgrading their vehicles. In conclusion, the Light Commercial Vehicles market in Austria is experiencing growth due to customer preferences for fuel-efficient and safe vehicles, the increasing demand for last-mile delivery services, government policies promoting electric and hybrid vehicles, local special circumstances, and favorable macroeconomic factors.

Data coverage:

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

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The motor vehicle manufacturing industry is one of the drivers of the European industry. In the European Union, this sector reported annual revenue of around 940.5 billion euros and a production value estimated at some 746 billion euros in 2020. Light commercial vehicles, typically up to 3.5 metric tons in gross vehicle weight, were the EU industry's most produced commercial vehicle type. However, the COVID-19 pandemic and global automotive chip shortage have impacted the sector's van output, dropping to under 1.7 million units in 2021. France was the largest light commercial vehicle producer in Europe, while French brands Renault and Peugeot were the second and third best-selling van brands in the European Union in 2021.