
The Light Commercial Vehicle Market was estimated at USD 542.53 billion in 2021, and from 2022 to 2030, it is projected to increase at a CAGR of 8.1%. The market is split based on the vehicle type, fuel type, and tonnage type, which is less than 2.5 tonnes and above 3.5 tonnes. The market is predicted to grow due to the rising adoption of electric vehicles, and the rental services of light vehicles are anticipated to impede market growth.
The Light Commercial Vehicle Market was estimated at USD 542.53 billion in 2021, and from 2022 to 2030, it is projected to increase at a CAGR of 8.1%. People, products, and services are transported using light commercial vehicles. The majority of light commercial vehicle production occurs in North America. The light commercial vehicle is made up of numerous tiny systems, including steering, chassis, interior and exterior, and many more.
The manufacture of light commercial vehicles has increased in the Asia-Oceania region as a result of the enormous improvements in trade and transportation. The Light Commercial Vehicle Market for more modern light commercial vehicles with reduced emissions and overall vehicle weight is anticipated to grow in the coming years due to the region's growing demand for such vehicles.
Light Commercial Vehicle Market Segmentations-
By Vehicle Type: Passenger Van, Cargo Van, Pickup Truck, Other Vehicle Types
By Tonnage Capacity Type: Less than 2.5 Tons, 5.2.2 2.5 to 3.5 Tons, 5.2.3 More than 3.5 Tons
By Fuel Type: Gasoline, Diesel, Alternative Fuels, Electric
Read the Press Release of Light Commercial Vehicle Market
Read More- https://cmi-latestreportorientedblogs.blogspot.com/2022/12/light-commercial-vehicle-market.html