France Light Commercial Vehicles Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2017 - 2030 | |
Market Size (2024) | USD 22.19 Billion | |
Market Size (2030) | USD 36.23 Billion | |
Largest Share by Vehicle Body Type | Light Commercial Pick-up Trucks | |
CAGR (2024 - 2030) | 8.51 % | |
Fastest Growing by Vehicle Body Type | Light Commercial Vans | |
Market Concentration | High | |
Major Players |
||
|
||
*Disclaimer: Major Players sorted in alphabetical order. |
France Light Commercial Vehicles Market Analysis
The France Light Commercial Vehicles Market size is estimated at 22.19 billion USD in 2024, and is expected to reach 36.23 billion USD by 2030, growing at a CAGR of 8.51% during the forecast period (2024-2030).
22.19 Billion
Market Size in 2024 (USD)
36.23 Billion
Market Size in 2030 (USD)
-0.13 %
CAGR (2017-2023)
8.51 %
CAGR (2024-2030)
Largest Segment by Fuel Category
84.62 %
value share, Diesel, 2023
Diesel leads due to its efficiency for long-haul transportation and established infrastructure supporting diesel engines, making it a preferred choice for commercial operations in France.
Largest Segment by Vehicle Body Type
86.54 %
value share, Light Commercial Pick-up Trucks, 2023
Light Commercial Pick-Up Trucks dominate due to their versatility, high demand from small businesses, and suitability for various commercial applications, making them essential in the market.
Fastest-growing Segment by Fuel Category
54.92 %
Projected CAGR, FCEV, 2024-2030
FCEVs are the fastest-growing due to advancements in hydrogen fuel cell technology, expanding hydrogen refueling infrastructure, and a push for zero-emission commercial vehicles.
Leading Market Player
29.32 %
market share, Groupe Renault, 2023
The Renault Group is the top player in France's light commercial vehicle market, driven by a loyal customer base and a diverse range of product offerings.
Second leading Market Player
15.38 %
market share, Peugeot S.A., 2023
Peugeot is the second-leading player in the France LCV market, as it is one of the tough competitors with a variety of product range offerings including electric-powered, especially vans.
France is focusing on diversifying light commercial vehicle offerings to meet specific market and logistic demands within and beyond its borders
- The French light commercial vehicles (LCV) market, known for its diverse range of vehicle types and applications, is witnessing a notable emphasis on efficiency, environmental consciousness, and innovation. This market encompasses a wide array of vehicles, including panel vans, pickup trucks, and small trucks, each catering to distinct segments of the economy. These segments span from small businesses and tradesmen to large corporations and delivery services. The demand for each vehicle type is influenced by factors like payload capacity, fuel efficiency, reliability, and increasingly, environmental considerations.
- Panel vans, highly prized for their adaptability, payload capacity, and maneuverability in urban settings, dominate the French LCV market. These vans serve as the backbone of the delivery and services sectors, capitalizing on the surge in online shopping and home delivery. Notably, the panel van market is experiencing a notable shift toward electrification, propelled by the French government's environmental policies. These policies include incentives for electric vehicle purchases and the establishment of low-emission zones in urban areas.
- Pick-up trucks and small trucks, crucial players in the French LCV market, cater to specific sectors like construction, landscaping, and utility services. While these segments have been slower in adopting electric and hybrid technologies, there is a rising interest in sustainable alternatives. This shift is driven by both a broader societal push for sustainability and stricter emission regulations. These factors are compelling manufacturers to innovate and offer more eco-friendly options.
France Light Commercial Vehicles Market Trends
France drives electric vehicle sales with government support and incentives
- Canada's GDP stood at USD 45,191.99 in 2017 and a surge to USD 46,625.86 was observed in 2018. This trend, however, was not linear, with 2020 revealing a dip to USD 43,383.71, largely influenced by global disruptions. However, Canada's economic forte shone bright as 2021 numbers rebounded to USD 52,387.81, further accentuated by the 2022 figure. Key industry observers attribute this to Canada's diversified economy, strategic fiscal measures, and strong foundation in the service and technological sectors.
- The government is investing heavily and making efforts to increase the adoption of green vehicles among consumers in France. For instance, in January 2021, the French government invested EUR 200 million to support the local and urban mobility authorities who are ready to electrify their vehicles (bus fleet). Moreover, in February 2021, the French government selected Greenmot’s Green-eBus project as one of the future projects to invest in. European Investment Bank funds the project intending to make the European Union the first greenhouse gas-neutral economy by 2050, and such projects are expected to accelerate electric mobility in France.
- Various plans and strategies introduced by the government are adding to the demand and sales of electric vehicles in the country. In October 2021, French President Emmanuel Macron announced a new plan named France 2030. Under the plan, the government will invest USD 30 billion to produce 2 million fully electric and hybrid vehicles domestically by 2030. Production growth is expected to increase the sales and the growing demand for EVs during 2024-2030 in France.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- France's population is experiencing growth, buoyed by a harmonious demographic makeup and favorable migration patterns. This necessitates a proactive approach to leverage the advantages and tackle forthcoming hurdles
- France's CVP was projected to witness an increase from 2022 to 2023, signaling a rebound in consumer sentiment. This resurgence is attributed to a combination of factors, including post-pandemic initiatives, the introduction of novel vehicle models, and a notable pivot toward sustainable modes of transportation
- Auto interest rates in France have been steadily decreasing in recent years, driven by factors such as ECB policies, lending practices, and broader European economic indicators. This downward trend is expected to continue in the coming years
- Electric vehicle demand in France surges as battery prices decline
- In 2023, France secured a commendable LPI score of 3.9, placing it 13th worldwide. This achievement, coupled with its strong focus on sustainability and digital transformation, sets the stage for France to emerge as a frontrunner in the ever-evolving global trade arena
- In 2022, Renault held the top position in the French light commercial vehicle market. However, it experienced a decline, whereas Nissan demonstrated steady growth. Notably, over five years, established players such as Renault and Fiat observed a decline in their market shares, while Mercedes-Benz showcased remarkable resilience
- France's GDP per capita, following a dip in 2022 to USD 42,409.05, is expected to recover and reach USD 52,940.22 by 2030, driven by strategic initiatives, innovation, and sustainability
- France's inflation trajectory mirrors its post-pandemic economic recalibration, with a focus on achieving stability
- France's EV charging network soars to 83,700 stations, driven by green initiatives and rising EV adoption
- International electric vehicle (EV) automakers are spearheading the electrification drive in France, not only by increasing their market presence but also by fostering collaborations in the realm of advanced commercial vehicles
- Refinery strikes in France are causing distribution issues, resulting in a fuel shortage and subsequent surge in fuel prices
France Light Commercial Vehicles Industry Overview
The France Light Commercial Vehicles Market is fairly consolidated, with the top five companies occupying 66.91%. The major players in this market are Fiat Chrysler Automobiles N.V, Ford Motor Company, Groupe Renault, Mercedes-Benz and Peugeot S.A. (sorted alphabetically).
France Light Commercial Vehicles Market Leaders
Fiat Chrysler Automobiles N.V
Ford Motor Company
Groupe Renault
Mercedes-Benz
Peugeot S.A.
Other important companies include IVECO S.p.A, Toyota Motor Corporation, Volkswagen AG.
*Disclaimer: Major Players sorted in alphabetical order.
France Light Commercial Vehicles Market News
- June 2023: Mercedes-Benz DRIVE PILOT expands U.S. availability to California and introduce a SAE Level 3 system in a standard-production vehicle for use on public freeways in the most populous state in the U.S.
- June 2023: FORD NEXT launches New pilot program creates flexible electric solutions for drivers who use the Uber platform in select U.S. markets, allowing them to lease a vehicle for more customized time periods.
- May 2023: Mercedes Benz Vans is launching its electric small van for innercity deliveries and servicing operations. eCitan is a vehicle panel with 2 options such as the compact version of 4498 mm and 5922 mm.
Free with this Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
France Light Commercial Vehicles Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. GDP Per Capita
2.3. Consumer Spending For Vehicle Purchase (cvp)
2.4. Inflation
2.5. Interest Rate For Auto Loans
2.6. Impact Of Electrification
2.7. EV Charging Station
2.8. Battery Pack Price
2.9. New Xev Models Announced
2.10. Logistics Performance Index
2.11. Fuel Price
2.12. Oem-wise Production Statistics
2.13. Regulatory Framework
2.14. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Vehicle Type
3.1.1. Commercial Vehicles
3.1.1.1. Light Commercial Pick-up Trucks
3.1.1.2. Light Commercial Vans
3.2. Propulsion Type
3.2.1. Hybrid and Electric Vehicles
3.2.1.1. By Fuel Category
3.2.1.1.1. BEV
3.2.1.1.2. FCEV
3.2.1.1.3. HEV
3.2.1.1.4. PHEV
3.2.2. ICE
3.2.2.1. By Fuel Category
3.2.2.1.1. CNG
3.2.2.1.2. Diesel
3.2.2.1.3. Gasoline
3.2.2.1.4. LPG
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Fiat Chrysler Automobiles N.V
4.4.2. Ford Motor Company
4.4.3. Groupe Renault
4.4.4. IVECO S.p.A
4.4.5. Mercedes-Benz
4.4.6. Peugeot S.A.
4.4.7. Toyota Motor Corporation
4.4.8. Volkswagen AG
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 3:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 4:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 5:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
- Figure 6:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 7:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 8:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 9:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 10:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, LPI YOY GROWTH RATE, 2017 - 2030
- Figure 11:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 12:
- FRANCE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 13:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 14:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2017 - 2030
- Figure 15:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 16:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 17:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 18:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 19:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 20:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 21:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 22:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2017 - 2030
- Figure 23:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 24:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 25:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 26:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 27:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 28:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 29:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 30:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 31:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 32:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 33:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 34:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 35:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 36:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 37:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 38:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 39:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 40:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 41:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 42:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 43:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 44:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 45:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 46:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 47:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY CNG, BY VOLUME IN UNITS, 2017 - 2030
- Figure 48:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY CNG, BY VALUE IN USD, 2017 - 2030
- Figure 49:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 50:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VOLUME IN UNITS, 2017 - 2030
- Figure 51:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VALUE IN USD, 2017 - 2030
- Figure 52:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 53:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 54:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VALUE IN USD, 2017 - 2030
- Figure 55:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 56:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LPG, BY VOLUME IN UNITS, 2017 - 2030
- Figure 57:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, BY LPG, BY VALUE IN USD, 2017 - 2030
- Figure 58:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 59:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 60:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 61:
- FRANCE LIGHT COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021
France Light Commercial Vehicles Industry Segmentation
Commercial Vehicles are covered as segments by Vehicle Type. Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type.
- The French light commercial vehicles (LCV) market, known for its diverse range of vehicle types and applications, is witnessing a notable emphasis on efficiency, environmental consciousness, and innovation. This market encompasses a wide array of vehicles, including panel vans, pickup trucks, and small trucks, each catering to distinct segments of the economy. These segments span from small businesses and tradesmen to large corporations and delivery services. The demand for each vehicle type is influenced by factors like payload capacity, fuel efficiency, reliability, and increasingly, environmental considerations.
- Panel vans, highly prized for their adaptability, payload capacity, and maneuverability in urban settings, dominate the French LCV market. These vans serve as the backbone of the delivery and services sectors, capitalizing on the surge in online shopping and home delivery. Notably, the panel van market is experiencing a notable shift toward electrification, propelled by the French government's environmental policies. These policies include incentives for electric vehicle purchases and the establishment of low-emission zones in urban areas.
- Pick-up trucks and small trucks, crucial players in the French LCV market, cater to specific sectors like construction, landscaping, and utility services. While these segments have been slower in adopting electric and hybrid technologies, there is a rising interest in sustainable alternatives. This shift is driven by both a broader societal push for sustainability and stricter emission regulations. These factors are compelling manufacturers to innovate and offer more eco-friendly options.
Vehicle Type | ||||
|
Propulsion Type | ||||||||
| ||||||||
|
Market Definition
- Vehicle Type - The category covers light commercial vehicle.
- Vehicle Body Type - This includes Light Commercial Pick-up Trucks and Light Commercial Vans.
- Fuel Category - The category includes various fuel types such as Gasoline, Diesel, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas), HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles)
Keyword | Definition |
---|---|
Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.