Just Published: "Light Commercial Vehicle (LCV) Market in Europe 2015-2019"

Light commercial vehicles refer to vehicles with a GVWR of less than 3.5 tonnes. These are commonly used for government and social organisations, public transportation, and logistics market in Europe.

Technavio analysts forecast the light commercial vehicle market in Europe to grow at a CAGR of 11.42% during 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "Though the greatest potential in Europe for natural gas is likely to be in the heavy goods vehicle and marine/waterway sectors, the LCVs are not far behind in terms of growth. The sector has showed rapid growth in recent years where the number of NGVs has gone compared to 2008. Italy, Germany, and Sweden are some of the leading countries in Europe that have significant shares of NGVs in the LCV sector. For instance, Italy is the largest market for vehicles using natural gas as the source of fuel. The main reason for the growth of NGVs in Europe is a result of reduced tax on natural gas (as a fuel) and huge support from the government (in the form of subsidies to the OEMs)."

According to the report, a large number of LCVs are expected to reach the end of their product life cycles between 2015 and 2018. LCVs have a short life cycle of eight years owing to their intense commercial usage. LCV sales had an upsurge in 2007 and 2008 and this is likely to recur during the forecast period because of the number of LCVs expected to be replaced during this time. So, the rate of replacement purchases are expected to be considerably higher than they have been for the past few years. The demand from the replacement market is expected to drive the overall demand for LCVs in Europe for the forecast period.

Further, the report states that the rising cost of the LCV manufacturing components will be the main concern for LCV manufacturers.

The key players in the Light Commercial Vehicle (LCV) Market in Europe are Daimler Trucks, CNH Industrial, MAN, Renault and Volvo Trucks while other prominent vendors include Anhui Jianghuai Automobile, AVTO VAZ, Ashok Leyland, Fiat Chrysler Automobiles, GM Corporation, GAZ, Hyundai, Isuzu Motors, Peugeot, PACCAR, Opel and Tata Motors

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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