SCV or Small commercial vehicle is broadly used for short intra-city & inter-city delivery of goods/products. It is generally preferred by small businesses to transport the bulky loads & heavy cargos. It is either three-wheeled or four-wheeled that depend on the weight of the goods. Most vehicles are integrated with modern engine technology that makes them travel rough lands easily as smooth streets. Globalization & rising penetration of e-commerce that results in improved trade and delivery of goods. Moreover, rise in demand for small commercial vehicles from the developing economies is also propelling the growth of market.
As per analysis, “Global
Small Commercial Vehicles Market Status (2015-2019) and Forecast (2020-2024) by
Region, Product Type & End-Use” the renowned key companies
operating in the global small commercial vehicles market are Hyundai Motor,
Renault, Great Wall Motor, Nissan Motor, Toyota Motor, Volkswagen, Tata Motors,
Ford Motor, Piaggio & C SpA, Dongfeng Motor, Anhui Jianghuai Automobile,
Mazda Motor, Great Wall Motor, Chongqing Changan Automobile, Isuzu Motors, Atul
Auto, Shenyang Brilliance Jinbei Automobile, Bajaj Auto, General Motor, Shaanxi
Automobile Group and among others. Most of these players are putting a strong
emphasis on offering advanced products based on the novel technologies as part
of the efforts to improve their respective product offerings in the market. The
players are also pursuing strategic initiatives including regional expansion as
well as strategic acquisitions, partnerships, mergers, and collaborations to fortify
their position in the market. Based on type, small commercial vehicles market
is segmented as light trucks, light buses, vans, pickups and others. Vans and
pickup holds major share in global market as they have more space for seating. In
addition, based on application, market is segmented as passenger transport,
freight transport and others. The passenger transport segment is likely to
witness higher growth rate as a result of rise in expenditure on commutation to
improve the accessibility & affordability during the forecast period.
By regional analysis, the North America, followed by Asia Pacific,
dominates the global small commercial
vehicle market owing to increase in financing options, rise in investment
in road infrastructure projects and growth in focus of government towards
automotive industry across the region. The Europe region is anticipated to
exhibit substantial growth rate due to increase in online shopping over the
forecast period. It is predicted that future of the global small commercial
vehicles market will be optimistic as a result of continued infrastructure
development during the forecast period.
For More Information, refer to
below link:-
Global
Small Commercial Vehicles Market
Contact Us:-
Ken
Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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