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2019-2024 Europe LCV Market Latest Research by Business Expansion Plans, Growth Rate, Industry Demand Status, Top Opportunities, and Forecast

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Europe LCV

Europe LCV Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Europe LCV Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of Europe LCV Market.

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Key Insights of Europe LCV Market:

  • Complete in-depth analysis of the Europe LCV
  • Important changes in market dynamics.
  • Segmentation analysis of the market.
  • Emerging segments and regional markets.
  • Historical, on-going, and projected market analysis based on volume and esteem.
  • Assessment of niche industry players.
  • Market share analysis.
  • Key strategies of major players

Market Overview:

  • The European light commercial vehicle (LCV) market is anticipated to register a CAGR of over 5.67%, during the forecast period, 2019-2024.
  • – Some of the major factors driving the growth of the market are a rise in e-commerce activities (which in turn, has resulted in the growth of the logistics industry), and the emergence of new ride-sharing platforms.
  • – Online retail sales and e-commerce have been rising, due to increased penetration of internet connectivity and smartphones. This is expected to result in increased purchase of LCVs for facilitating the timely delivery of items to buyers. The tough emission norms are forcing the vehicle manufacturers to reduce the weight of the vehicles, in order to comply with the emission standards. This has increased the use of lighter metals, such as aluminum, magnesium, and their alloys and lighter composites, such as carbon fiber, in the vehicles.
  • – Increase in the demand for LCVs in the region is also due to the emergence of new ridesharing platforms. For instance, Daimler entered into a joint venture with the US startup company Via. Via is focused on developing a scalable and on-demand ride sharing solutions. Together, the two companies aim to introduce on-demand shared rides in Europe, which is likely to increase the demand for passenger vans in the European region during the forecast period.

    Europe LCV Market Segmentation by Top Key Players:

  • Volkswagen
  • Daimler AG
  • Groupe PSA
  • Ford Motor Company
  • Fiat Chrysler Automobiles NV
  • General Motors Company
  • Toyota Motor Corporation
  • Mitsubishi Motors Corporation
  • Hyundai Motor Company
  • Nissan Motor Company Ltd
  • Renault

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    Scope of the Report:

  • The European LCV market has been segmented by vehicle type, drive type, and end user.
  • Key Market Trends:

    E-commerce Driving the Commercial Fleet Segment

    Road transportation accounts for the majority of freight transport in Europe.

    According to Eurostat, over 75% of inland cargo transports within the EU, i.e., about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European countries, this percentage goes as high as 90%, or more.

    The primary factor driving the growth of the market is the increased preference for pickup trucks and small vans over heavy-duty trucks and railways for logistics.

    Additionally, the rapidly growing e-commerce in Europe represents a central pillar for the digital single market and reflects the advancements in the e-tailing sector, which is witnessing the expansion of well-organized retail spaces.

    As the e-commerce industry continues to grow across Europe, the demand for more advanced distribution network is increasing. As the market continues to expand, the demand for pick-up vans, small trucks, and other LCVs are also likely to increase, with freight transportation in Europe (between 50 km and 1,999 km) accounting for 89.1% of the global freight transportation, in 2017. Additionally, light commercial vehicles accounted for over 10% of the new vehicle sales in the EU in 2016. Majority of the vehicles are used by commercial fleet operators, which include e-commerce delivery services, postal services, courier services, etc.

    Furthermore, owing to environmental concerns, a trend toward electrification of the commercial fleet was observed in the European Union, with some companies, such as FedEx, DHL, Harrods, Hermes, etc., switching to electric light commercial vehicles. Mercedes is planning to enter the electric van market by introducing electric vans for the German logistics firm, Hermes. In one such move, the German postal service, DHL, fabricated its own electric vehicle for operations in the country.

    Increasing Demand for Vans

    The demand for vans across Europe has been increasing over the past three years. Vans contribute to 80% of the total light commercial vehicle sales in Europe. They are used for a wide range of commercial activities, such as construction, postal and courier services, ambulance services, policing and rescue operations, mobile workshops, and passenger transportation.

    Diesel-powered vans account to 96% of the sales, followed by those powered by gasoline with 2.3% and alternative fuel vehicles with 1.7%. Diesel engine vans are used because of their high torque and efficient load carrying and towing capabilities.

    Currently, there are over 29 million vans in use in the European region. The average age of a van is rising and has increased to 10.9 years. Europe is also one of the largest exporters of vans. The demand for European vans is mainly driven by the increase in logistics activities. During FY 2017-2018, the region exported 322,548 vans to several locations across the world.

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    Europe LCV Market Covers Following Points in TOC:

    • Chapter 1: Europe LCV Market Definition
    • Chapter 2: Research Methodology of Europe LCV Market
    • Chapter 3: Europe LCV Market Executive Summary
    • Chapter 4: Europe LCV Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Europe LCV Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Europe LCV Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Europe LCV Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Europe LCV Market

     

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