Global Commercial Vehicles Market Growth 2025-2031

Global Commercial Vehicles Market Growth 2025-2031

The global Commercial Vehicles market size is predicted to grow from US$ 969950 million in 2025 to US$ 1056950 million in 2031; it is expected to grow at a CAGR of 1.4% from 2025 to 2031.

A commercial vehicle is used for commercial or business purposes. Commercial motor vehicles (CMV) may transport goods or paying passengers. A commercial vehicle is often designated "commercial" when it is titled or registered to a company. This may include company cars, fleet vehicles, or other vehicles used for business purposes.

Global core commercial vehicles manufacturers include FootJoy, Toyota, Ford etc.The top 5 companies hold a share about 30%.North America is the largest market, with a share about 32%, followed by Europe and China with the share about 30% and 18%.In terms of product, light commercial vehicle is the largest segment, with a share over 68%. And in terms of application, the largest application is transportation and logistics, followed by construction.

LP Information, Inc. (LPI) ' newest research report, the “Commercial Vehicles Industry Forecast” looks at past sales and reviews total world Commercial Vehicles sales in 2024, providing a comprehensive analysis by region and market sector of projected Commercial Vehicles sales for 2025 through 2031. With Commercial Vehicles sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Commercial Vehicles industry.

This Insight Report provides a comprehensive analysis of the global Commercial Vehicles landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Commercial Vehicles portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Commercial Vehicles market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Commercial Vehicles and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Commercial Vehicles.

This report presents a comprehensive overview, market shares, and growth opportunities of Commercial Vehicles market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Light Commercial Vehicle
Medium Duty/Heavy Duty Vehicle
Buses & Coaches

Segmentation by Application:
Transportation and Logistics
Construction
Public Transit
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
GM
Toyota
Ford
Daimler
Volvo
Stellantis
PACCAR
Faw Jiefang Group
Man Truck & bus
Scania
Iveco
Sinotruck
Shaanxi Heavy Duty Automobile
Isuzu Motors
Navistar
Tata Motors
Yutong
BYD

Key Questions Addressed in this Report

What is the 10-year outlook for the global Commercial Vehicles market?

What factors are driving Commercial Vehicles market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Commercial Vehicles market opportunities vary by end market size?

How does Commercial Vehicles break out by Type, by Application?