Light Commercial Vehicles - Greece

The Light Commercial Vehicles market in Greece is projected to reach a total of 10.40k vehicles unit sales by 2024.
This market is expected to demonstrate a compound annual growth rate (CAGR 2024-2030) of 0.81%, resulting in a projected market volume of 10.91k vehicles units by 2030.
It is worth noting that the production of Light Commercial Vehicles market in Greece is also expected to reach 0.00 units by 2030, indicating the potential for significant growth in this market.
From an international perspective, it is evident that the United States will dominate the sales in 2024, with a total of 13.20m vehicles units sold.
Despite economic challenges, Greece has seen a surge in demand for light commercial vehicles, driven by the need for efficient transportation in urban areas.

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 Greece 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 trend is driven by increasing awareness of climate change and the need to reduce carbon emissions. Customers are also looking for vehicles that offer better safety features and technological advancements. Additionally, there is a growing demand for vehicles that can be customized to meet specific business needs.

One of the key trends in the Light Commercial Vehicles market in Greece is the increasing popularity of electric vehicles. This trend is driven by government incentives and regulations aimed at reducing carbon emissions. Electric vehicles offer lower operating costs and are seen as a more sustainable option compared to traditional petrol or diesel vehicles.

As a result, many customers are opting for electric vehicles for their commercial needs. Another trend in the market is the rise of online retailing and delivery services. With the growth of e-commerce, there is a higher demand for vehicles that can efficiently transport goods.

This has led to an increase in the sales of Light Commercial Vehicles, as businesses seek vehicles that can handle the demands of the online retail industry. Additionally, the COVID-19 pandemic has accelerated the growth of online shopping, further driving the demand for Light Commercial Vehicles. Local special circumstances in Greece also play a role in the development of the Light Commercial Vehicles market.

Greece has a large number of small businesses, including tourism-related enterprises. These businesses often require Light Commercial Vehicles for their day-to-day operations, such as transporting goods or providing services. The need for these vehicles is further amplified during the peak tourist season.

Underlying macroeconomic factors also contribute to the growth of the Light Commercial Vehicles market in Greece. The country has been recovering from a prolonged economic crisis, and there is a renewed focus on business growth and investment. This has led to an increase in demand for Light Commercial Vehicles as businesses expand their operations and invest in new vehicles.

In conclusion, the Light Commercial Vehicles market in Greece is experiencing growth due to customer preferences for fuel-efficient and environmentally friendly vehicles, the rise of online retailing and delivery services, local special circumstances, and underlying macroeconomic factors. As these trends continue to shape the market, it is expected that the demand for Light Commercial Vehicles will continue to increase in Greece.

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.