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Commercial Vehicle Market Share

Report ID: GMI7430
Published Date: Nov 2023
Report Format: PDF

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Commercial Vehicle Market Share

Major companies operating in the commercial vehicle industry are:

Toyota Motor Corporation
Ford Motor Company
AB Volvo
General Motors
Paccar Inc
BYD Motors
Scania AB
Dongfeng Motor Corporation

General Motors holds the largest market share, the company has established itself as a globally recognized automotive brand, enjoying the benefits of strong brand recognition that often influences consumer and business purchasing decisions. Also, the company's commitment to innovation and technology integration, such as advanced safety features and fuel efficiency, could contribute to a competitive advantage.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of commercial vehicle reached USD 8.8 trillion in 2022 and is set to witness 6% CAGR from 2023 to 2032, attributed to the stringent emission standards and fuel efficiency regulations across several economies worldwide.

The logistics & transportation end-use segment accounted for 37% of the revenue share in 2022, driven by the increasing volume of global trade, e-commerce expansion, and the need for timely and cost-effective delivery.

North America held more than 30% of the market share in 2022, owing to the economic growth and increased trade activities in the region.

Some of the leading companies are Toyota Motor Corporation, Ford Motor Company, AB Volvo, General Motors, Paccar Inc, BYD Motors, Scania AB, and Dongfeng Motor Corporation.