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Global Light and Medium Commercial Vehicle Market 2019-2023 - Increase in Fuel Efficiency to Boost Demand - Technavio

November 27, 2018

LONDON--(BUSINESS WIRE)--Nov 27, 2018-- analysts forecast the global light and medium commercial vehicle market to grow at a CAGR of nearly 6% during the forecast period, according to their latest market research report.

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Technavio has released a new market research report on the global light and medium commercial vehicle market for the period 2019-2023. (Photo: Business Wire)

The increasing popularity of electric LCVs for facilitating last-mile connectivity is one of the major trends being witnessed in the . Automobile manufacturers are working towards improving the reliability of electric vehicles. Lack of proper charging stations and limited power capacity batteries are the main drawbacks of electric vehicles. Vehicle manufacturers are undertaking various experimental operations involving the use of electric vehicles to overcome various issues faced by the vehicle in real-world scenarios. However, unlike passenger cars, LCVs require more power to be effective for hauling cargo. Vehicle manufacturers have begun using electric LCVs within real-world scenarios to test reliability and endurance of electric LCVs.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global light and medium commercial vehicle market is engine downsizing:

Global light and medium commercial vehicle market: Engine downsizing

The increasing demand for lightweight vehicles and improved fuel efficiency is prompting vehicle manufacturers to downsize the engine components. In the process, of downsizing the engine, most of the manufacturers equip turbochargers within the engines to allow more air intake for combustion. Higher air intake to combustion chamber allows more fuel to burn, which increases the fuel efficiency. In addition, the deployment of downsized engines with turbochargers for LCVs and MCVs reduces the overall production cost of the vehicle, thereby driving the market during the forecast period.

According to a senior analyst at Technavio for research on automotive manufacturing, “Most of the light and medium commercial vehicles are equipped with diesel engines, which is an added advantage. This is because the cost of turbochargers for diesel engines is lesser than that of gasoline engines. Also, turbochargers help reduce emissions. Hence, these factors will drive the global light and medium commercial vehicle market during the forecast period.”

Global light and medium commercial vehicle market: Segmentation analysis

The global light and medium commercial vehicle market research report provide market segmentation by vehicle type (LCVs and MCVs), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The LCVs segment held the largest market share in 2018, accounting for nearly 95% of the market. This vehicle type segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of over 60%. This region is expected to dominate the market through 2023.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

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SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/27/2018 07:23 AM/DISC: 11/27/2018 07:22 AM

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