Light Commercial Vehicles - Croatia

In 2024, the Light Commercial Vehicles market in Croatia is projected to reach 7.92k vehicles units in terms of unit sales.
Looking ahead, this market is expected to display a compound annual rate (CAGR 2024-2030) of 1.98%, resulting in a projected market volume of 8.91k vehicles units by 2030.
Furthermore, it is worth noting that the production of Light Commercial Vehicles market in Croatia is expected to reach 0.00 units by 2030, which highlights the potential for growth in this market.
Taking an international perspective, it is interesting to observe that the majority of sales in 2024 are anticipated to be the United States, with a figure of 13.20m vehicles units.
The demand for light commercial vehicles in Croatia is steadily increasing due to the growing e-commerce industry.

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 Croatia has been experiencing significant growth in recent years. Customer preferences in the market have been shifting towards more fuel-efficient and environmentally friendly vehicles.

This is in line with global trends, as customers become more conscious of the impact of their choices on the environment. Additionally, there is a growing demand for vehicles that offer versatility and practicality, making light commercial vehicles a popular choice for businesses and individuals alike. One of the key trends in the market is the increasing popularity of electric and hybrid vehicles.

This can be attributed to the government's push towards a greener and more sustainable future. With the introduction of various incentives and subsidies, customers are more inclined to opt for electric or hybrid light commercial vehicles. This trend is expected to continue as the government further promotes the adoption of electric vehicles through infrastructure development and awareness campaigns.

Another trend in the market is the rise of online shopping and delivery services. With the increasing popularity of e-commerce, there is a growing need for efficient and reliable delivery vehicles. Light commercial vehicles are well-suited for this purpose, as they offer ample cargo space and maneuverability in urban areas.

As online shopping continues to grow, the demand for light commercial vehicles is expected to rise as well. Local special circumstances also play a role in the development of the Light Commercial Vehicles market in Croatia. The country has a strong tourism industry, with many businesses relying on light commercial vehicles for transportation and logistics.

This includes hotels, restaurants, and tour operators, among others. The demand for light commercial vehicles in this sector is driven by the need for reliable and efficient transportation of goods and passengers. Underlying macroeconomic factors also contribute to the growth of the Light Commercial Vehicles market in Croatia.

The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This, in turn, has fueled the demand for light commercial vehicles as businesses and individuals invest in transportation solutions. Additionally, low interest rates and favorable financing options have made it easier for customers to purchase light commercial vehicles, further driving market growth.

Overall, the Light Commercial Vehicles market in Croatia is experiencing growth due to customer preferences for fuel-efficient and versatile vehicles, the rise of online shopping and delivery services, local special circumstances in the tourism industry, and favorable macroeconomic factors. As these trends continue to shape the market, it is expected that the demand for light commercial vehicles will continue to rise in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

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.