Commercial Vehicles - Worldwide

  • Worldwide
  • In 2024, the Commercial Vehicles market is anticipated to witness unit sales of 24.93m vehicles worldwide.
  • Projections indicate that there will be a steady annual growth rate (CAGR 2024-2029) of -0.54%, resulting in a market volume of 24.27m vehicles by 2029.
  • This showcases the potential for significant expansion in the Commercial Vehicles market.
  • Furthermore, the production of Commercial Vehicles market is expected to reach 24.38m vehicles units by 2029, further highlighting the market's growth potential.
  • When considering the international landscape, it becomes evident that the in the United States will dominate sales with 11,630.00k vehicles units in 2024.
  • Despite the global economic slowdown, the demand for commercial vehicles in countries like China and India continues to rise due to their booming logistics and e-commerce sectors.
Comparación de regiones

Analyst Opinion

The global commercial vehicle market is set for significant growth, driven by increasing industrial activity, the surge in e-commerce, and the growing demand for efficient transportation solutions. This market is highly competitive, with numerous global players vying for substantial market supremacy. The demand for sophisticated and innovative commercial vehicles is expected to increase as companies recognize the importance of well-coordinated logistics.

The North American commercial vehicle market is a highly competitive industry, featuring key players like Daimler Trucks North America, PACCAR, and Navistar International Corporation. The driving forces behind market growth include the surge of e-commerce, the demand for secure freight transportation, and the need for agile management of supply chains. Europe's commercial vehicle market is multifaceted, home to established heavyweights such as the Volvo Group and MAN Truck & Bus, as well as up-and-coming contenders. The region's commitment to sustainable transport solutions, incorporating electric and hybrid vehicles, is set to shape the future of the market. Strict emission standards and environmental worries drive innovation and technological progress. The African commercial vehicle market is currently small but possesses rapid expansion potential. Anticipated factors promoting demand comprise escalating trade activities, urbanization, and the development of the e-commerce industry. To guarantee sustainable growth, it is vital to address challenges such as inadequate infrastructure and logistics systems. The Middle East's strategic global trade hub location and burgeoning e-commerce market make it enticing for commercial vehicle firms. Nonetheless, operational difficulties can arise from infrastructure gaps and limited access to financing. South America, especially Brazil and Argentina, offers great potential for the commercial vehicle market. The region is undergoing a transition towards technology and automation in logistics, which is increasing the need for sophisticated commercial vehicles. Additionally, there is a rising concern for sustainability and environmentally friendly transport solutions.

In 2020, the COVID-19 pandemic caused significant disruption to commercial vehicle manufacturing and sales. However, the market proved to be robust in 2021, with heightened demand resulting from the economic recovery, infrastructure initiatives, and the continuous expansion of e-commerce. The market's adaptability and innovation in confronting difficulties underscores its potential for continual expansion in the foreseeable future.


Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of commercial vehicles.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Visión general

  • Unit Sales
  • Production
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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