US Commercial Vehicles Market Size to Hit USD 342.1 Bn by 2033

The US commercial vehicles market size was estimated to be around US$ 204.1 billion in 2023 and is projected to reach US$ 342.1 billion by 2033, indicating a CAGR of 5.4% from 2024 to 2033.

Key Points

• By product, the light commercial vehicles (LCVs) segment held the dominating share of the market in 2023.
• By end-use, the logistics segment estimated for the largest market share in 2023.
• By end-use, the passenger transportation segment is expected to grow at a significant rate during the forecast period.
• By propulsion type, the electric vehicle segment held the largest share of the market in 2023.
• By power source, the battery electric vehicle (BEV) segment is expected to hold a significant market share over the forecast period.

The US Commercial Vehicles Market is a dynamic and crucial sector within the country’s automotive industry, encompassing a wide range of vehicles designed for transporting goods, passengers, or performing specialized tasks. This market plays a pivotal role in supporting various economic activities, including logistics, construction, and public transportation.

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Growth Factors

Several factors contribute to the growth of the US Commercial Vehicles Market. Firstly, the robust economic conditions in the United States drive demand for efficient freight and logistics services, stimulating the need for commercial vehicles. Additionally, advancements in technology, such as the integration of telematics and autonomous features, have been instrumental in enhancing the safety, efficiency, and overall appeal of commercial vehicles, driving market growth. Furthermore, increasing urbanization and e-commerce trends are boosting demand for last-mile delivery solutions, providing further opportunities for expansion in the commercial vehicles sector.

US Commercial Vehicles Market Scope

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Opportunities

The US Commercial Vehicles Market presents various opportunities for manufacturers and stakeholders. Sustainable and electric commercial vehicles are gaining traction as environmental concerns rise and regulatory frameworks encourage cleaner transportation solutions. Consequently, there’s an opportunity for innovation and investment in eco-friendly commercial vehicle technologies. Moreover, collaborations with technology firms to develop autonomous driving capabilities and connectivity solutions can position companies strategically in the evolving market landscape.

Challenges

Despite its growth prospects, the US Commercial Vehicles Market faces challenges that necessitate strategic considerations. Fluctuating fuel prices and concerns about the total cost of ownership remain significant challenges for both fleet operators and manufacturers. Additionally, the regulatory landscape, including emissions standards and safety regulations, poses compliance challenges. The market’s sensitivity to economic downturns and trade uncertainties can also impact sales, highlighting the need for resilience and adaptability within the industry.

Reasons to Purchase this Report:

• Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
• In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
• Market size in USD million and volume in million units provided for each segment and sub-segment.
• Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
• Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on US Commercial Vehicles Market 

5.1. COVID-19 Landscape: US Commercial Vehicles Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global US Commercial Vehicles Market, By Product

8.1. US Commercial Vehicles Market Revenue and Volume Forecast, by Product, 2024-2033

8.1.1. Light Commercial Vehicles (LCVs)

8.1.1.1. Market Revenue and Volume Forecast (2021-2033)

8.1.2. Buses & Coaches

8.1.2.1. Market Revenue and Volume Forecast (2021-2033)

8.1.3. Heavy Trucks

8.1.3.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 9. Global US Commercial Vehicles Market, By End-use

9.1. US Commercial Vehicles Market Revenue and Volume Forecast, by End-use, 2024-2033

9.1.1. Mining & Construction

9.1.1.1. Market Revenue and Volume Forecast (2021-2033)

9.1.2. Industrial

9.1.2.1. Market Revenue and Volume Forecast (2021-2033)

9.1.3. Passenger Transportation

9.1.3.1. Market Revenue and Volume Forecast (2021-2033)

9.1.4. Logistics

9.1.4.1. Market Revenue and Volume Forecast (2021-2033)

9.1.5. Others

9.1.5.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 10. Global US Commercial Vehicles Market, By Propulsion Type 

10.1. US Commercial Vehicles Market Revenue and Volume Forecast, by Propulsion Type, 2024-2033

10.1.1. IC Engine

10.1.1.1. Market Revenue and Volume Forecast (2021-2033)

10.1.2. Electric Vehicle

10.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 11. Global US Commercial Vehicles Market, By Power Source 

11.1. US Commercial Vehicles Market Revenue and Volume Forecast, by Power Source, 2024-2033

11.1.1. Gasoline

11.1.1.1. Market Revenue and Volume Forecast (2021-2033)

11.1.2. Diesel

11.1.2.1. Market Revenue and Volume Forecast (2021-2033)

11.1.3. HEV/PHEV

11.1.3.1. Market Revenue and Volume Forecast (2021-2033)

11.1.4. Battery Electric Vehicle (BEV)

11.1.4.1. Market Revenue and Volume Forecast (2021-2033)

11.1.5. Fuel Cell Vehicle

11.1.5.1. Market Revenue and Volume Forecast (2021-2033)

11.1.6. LPG & Natural Gas

11.1.6.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 12. Global US Commercial Vehicles Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.1.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.1.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.1.5. U.S.

12.1.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.1.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.1.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.6.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.1.6.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.1.6.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.2. Europe

12.2.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.2.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.2.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.2.5. UK

12.2.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.2.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.2.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.2.6. Germany

12.2.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.6.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.2.6.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.2.6.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.2.7. France

12.2.7.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.7.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.2.7.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.2.7.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.8.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.2.8.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.2.8.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.3. APAC

12.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.3.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.3.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.3.5. India

12.3.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.3.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.3.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.3.6. China

12.3.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.6.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.3.6.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.3.6.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.3.7. Japan

12.3.7.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.7.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.3.7.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.3.7.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.8.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.3.8.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.3.8.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.4. MEA

12.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.4.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.4.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.4.5. GCC

12.4.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.4.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.4.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.4.6. North Africa

12.4.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.6.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.4.6.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.4.6.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.4.7. South Africa

12.4.7.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.7.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.4.7.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.4.7.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.8.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.4.8.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.4.8.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.5. Latin America

12.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.5.5. Brazil

12.5.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.5.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.5.5.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.5.5.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.6.2. Market Revenue and Volume Forecast, by End-use (2021-2033)

12.5.6.3. Market Revenue and Volume Forecast, by Propulsion Type (2021-2033)

12.5.6.4. Market Revenue and Volume Forecast, by Power Source (2021-2033)

Chapter 13. Company Profiles

13.1. Ford Motor Company

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Daimler Trucks North America

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Hino Motors, Ltd.

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. GM motors

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. ISUZU COMMERCIAL TRUCKS

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Paccar Inc

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Navistar International Transportation Corporation

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Toyota motor corporation

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Volvo Group

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. ZF Friedrichshafen AG

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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