Light Commercial Vehicles - Israel

The Light Commercial Vehicles market in Israel is projected to see unit sales of 38.20k vehicles in 2024.
This market is expected to experience a compound annual rate of 2.59%, resulting in a projected market volume of 44.53k vehicles by 2030.
Interestingly, the production of Light Commercial Vehicles market in Israel is expected to reach 0.00 in 2030, indicating the potential for significant growth in this market.
From a global standpoint, it is evident that the United States will dominate the sales in 2024, with a staggering 13.20m vehicles units sold.
The demand for electric light commercial vehicles in Israel is on the rise, driven by the country's strong commitment to sustainability and environmental consciousness.

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 Israel is experiencing significant growth and development. Customer preferences in the Light Commercial Vehicles market in Israel are shifting towards vehicles that are more fuel-efficient and environmentally friendly.

Customers are also looking for vehicles that offer a good balance between price and quality. Additionally, there is a growing demand for vehicles that are versatile and can be used for both personal and commercial purposes. Trends in the market include the increasing popularity of electric and hybrid vehicles.

As environmental concerns continue to rise, more customers are opting for vehicles that have lower emissions and are more sustainable. There is also a trend towards smaller and more compact vehicles, as they are more maneuverable in urban areas and offer better fuel efficiency. Another trend is the integration of advanced technology in light commercial vehicles, such as connectivity features and advanced safety systems.

Local special circumstances in Israel play a role in the development of the Light Commercial Vehicles market. The country has a relatively small land area, which means that vehicles need to be compact and easy to maneuver in urban areas. Additionally, Israel has a well-developed infrastructure, which makes it easier for customers to access and use light commercial vehicles for their daily needs.

The country also has a strong focus on innovation and technology, which is reflected in the increasing demand for vehicles with advanced features. Underlying macroeconomic factors also contribute to the growth of the Light Commercial Vehicles market in Israel. The country has a stable and growing economy, which has led to an increase in consumer purchasing power.

This, in turn, has resulted in higher demand for light commercial vehicles. The government of Israel has also implemented policies and incentives to promote the use of electric and hybrid vehicles, which has further boosted the market. Overall, the Light Commercial Vehicles market in Israel is experiencing growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As the market continues to evolve, it is expected that there will be further advancements in technology and a greater emphasis on sustainability and efficiency.

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.