San Jose, California (PRWEB) November 08, 2013
Follow us on LinkedIn - The commercial vehicles (CVs) industry is influenced by a medley of factors including capital investments in the manufacturing industry, technology, price, competition and regulations. Several factors, both general and market-specific, tend to influence the industry performance. Economic factors include changes in government policies, fluctuation in exchange rates, varying inflation levels and automobile infrastructure, among others. Additionally, the demand for commercial vehicles is also affected by fluctuations in international oil prices. Fuel price hikes have strongly impacted demand for medium-and high-load trucks in the US and Europe. Over the next few years, Asia-Pacific and Latin America are expected to drive significant demand for commercial vehicles. Rapid industrialization, development of road infrastructure, and steady rise in commercial activity, particularly with regard to logistics, distribution and public transportation will drive growth in these markets. The United States continues to remain the largest regional market for commercial vehicles in terms of sales.
Increase in fuel and energy prices coupled with rising customer eco-awareness, is expected to step up innovation of low-emission and fuel efficient green vehicles. Regulations pertaining to low carbon emissions will also help direct OEMs focus towards manufacturing environment friendly vehicles that consume lesser fuel and emit lower emissions. Innovations in technology such as Exhaust Gas Recirculation (EGR), Selective Catalytic Reduction (SCR), Compression Ignition Technology and Telematics, which improves the efficiency of CVs will help drive long-term growth. Hybrid and electric trucks are expected to grow in popularity as a result of government incentives, and functional improvements in the design of electric motors and hybrid engines.
Growing need to transport temperature sensitive products like food/beverages, pharmaceuticals, chemicals, plants, flowers, among others, is helping fuel demand for refrigerated van, truck and trailers. Strong growth in industries like food and beverage, pharmaceuticals and chemicals is therefore creating opportunities for fleet expansion. The rise in home delivery of frozen and chilled food and beverages, for instance, is helping spur market opportunities for refrigerated transportation. Increased online delivery of food services offered by restaurants and supermarkets is a key reason cited for the increase in home delivery of food and beverages.
In addition, growing preference for road transport in international trade is also helping fuel growth. Encouraged by the unrivalled levels of flexibility offered by road transport, there is increasing preference for road transport, especially in Europe, where motorway networks between national borders are currently being upgraded to facilitate both domestic and international trade. Key advantages encouraging overland movement of trade traffic include lower costs as compared to other transportation modes and extensive developments in cross border road networks. The increasingly important role played by road freight transport in global trade and logistics is poised to benefit demand for commercial vehicles.
As stated by the new market research report on Commercial Vehicles, the United States represents the largest and the fastest growing market worldwide with sales projected to grow at a CAGR of 5.9% over the analysis period. Asia-Pacific is forecast to emerge as the fastest growing hub for CV production led by shifting of automobile production bases to low cost Asian countries. The region is expected to witness strong demand for buses encouraged by rapid urbanization and increasing need for safe and efficient public transportation in populous countries such as China and India.
Key players covered in the report include AB Volvo Group, UD Trucks Corporation, BAIC Group, Chrysler Group LLC, China National Heavy Duty Truck Group, Daimler AG, Dongfeng Motor Corporation, FAW Group Corporation, Fiat S.p.A., Iveco S.p.A, Ford Motor Company, General Motors Corp., Hyundai Motor Company, Isuzu Motors Ltd., MAN Truck & Bus AG, Mitsubishi Fuso Truck and Bus Corporation, Navistar International Corporation, Nissan Motor Co. Ltd., PACCAR Inc., Scania AB, Tata Motors Ltd., Toyota Motor Corp., Hino Motors Ltd., and Volkswagen AG.
The research report titled “Commercial Vehicles: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the commercial vehicles market, industry overview, trends, growth drivers and issues, and recent industry activity. The report provides market estimates and projections for commercial vehicles in volume sales and production for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, South Korea, Taiwan, Thailand and Rest of Asia-Pacific), Latin America (Argentina, Brazil, Mexico and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/