Market Insights Mobility Commercial Vehicles

Light Commercial Vehicles - EU-27

EU-27

In 2024, the Light Commercial Vehicles market in the EU-27 is projected to reach 1.42m vehicles units.
The forecasted annual growth rate (CAGR 2024-2029) is -1.90%, indicating a steady increase in unit sales.
By 2029, the market is expected to expand further, reaching a volume of 1.29m vehicles units.
This demonstrates the potential for growth in the Light Commercial Vehicles market within the EU-27.
Furthermore, the production of Light Commercial Vehicles market is estimated to reach 1.73m vehicles units by 2029.
This figure highlights the significant growth potential within the market.
When considering the international perspective, it is evident that the in the United States will be the dominant market, with projected sales of 11,160.00k vehicles units in 2024.
This indicates the strong demand for Light Commercial Vehicles market the in the United States and underscores its position as a key player in the global market.
In Germany, the market for light commercial vehicles is experiencing a shift towards electric models, driven by government incentives and environmental consciousness.

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Analyst Opinion

The Light Commercial Vehicles market in EU-27 is experiencing significant growth and development. Customer preferences are shifting towards more fuel-efficient and environmentally friendly vehicles, leading to increased demand for electric and hybrid models.

Additionally, there is a growing trend towards online shopping and home delivery services, which has boosted the need for efficient and reliable delivery vehicles. Customer preferences in the Light Commercial Vehicles market in EU-27 are being influenced by several factors. One major factor is the increasing concern for the environment and the desire to reduce carbon emissions.

As a result, there is a growing demand for electric and hybrid vehicles that offer lower emissions and better fuel efficiency. Customers are also looking for vehicles that are cost-effective and have low maintenance requirements. This has led to a rise in the popularity of compact and versatile models that can be used for various purposes, such as delivery vans and mobile workshops.

Trends in the Light Commercial Vehicles market in EU-27 are driven by the changing needs of businesses and consumers. One notable trend is the rise of online shopping and home delivery services. With the convenience of online shopping, more people are opting to have their purchases delivered to their doorstep.

This has created a demand for efficient and reliable delivery vehicles that can navigate urban areas and handle large volumes of packages. As a result, there is a growing market for compact vans and electric delivery vehicles that can meet these requirements. Another trend in the Light Commercial Vehicles market in EU-27 is the increasing focus on safety features and advanced technology.

Customers are looking for vehicles that offer advanced driver assistance systems, such as lane departure warning and automatic emergency braking. Additionally, there is a demand for vehicles with connectivity features that allow for seamless integration with smartphones and other devices. This trend is driven by the desire for a more connected and convenient driving experience.

Local special circumstances in the Light Commercial Vehicles market in EU-27 can also impact its development. Each country within the EU-27 has its own unique set of regulations and incentives for electric and hybrid vehicles. Some countries offer subsidies and tax incentives to encourage the adoption of electric vehicles, while others have stricter emission standards.

These local circumstances can influence the demand for different types of vehicles and the pace of market growth. Underlying macroeconomic factors play a significant role in the development of the Light Commercial Vehicles market in EU-27. Economic growth and stability can drive increased consumer spending and business investments, which in turn can boost the demand for commercial vehicles.

Additionally, government policies and regulations related to trade and transportation can impact the market. Changes in fuel prices and availability can also influence customer preferences and purchasing decisions. Overall, the Light Commercial Vehicles market in EU-27 is experiencing growth and development driven by customer preferences for fuel-efficient and versatile vehicles, as well as the increasing demand for delivery vehicles in the age of online shopping.

The market is also influenced by local special circumstances and underlying macroeconomic factors.

Methodology

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.