Commercial vehicles manufacturers
manufacture complete light trucks and utility vehicles such as light duty vans,
minivans, pick-up trucks and sports utility vehicles, and complete heavy-duty
trucks, buses, coaches, heavy duty motor homes and other special purpose heavy
duty motor vehicles for highway use.
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The global commercial vehicles market was
valued at $1.7 trillion in 2017. Among regional markets, Asia Pacific was the
largest geographic region in the market, accounting for more than one-third of
the global market share. The market saw a growth due to increase in new vehicle
sales in rapidly developing countries such as China and India owing to rise in
disposable income, increased demand for vehicles, availability of credit and
low fuel prices.
The market in the report is segmented
into: light commercial vehicle, heavy trucks, buses and coaches.
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China was the largest country in the
market, accounting for around one-third of the global commercial vehicles
market share. China was followed by the USA and Germany as the next largest
countries in the market.
The top five competitors in the market
are Daimler AG followed by Volvo Group, Man Truck & Bus, Hino Motors and
Scania. Daimler is a German multinational automotive corporation. Daimler AG is
headquartered in Stuttgart, Baden-Württemberg. Daimler is the
thirteenth-largest car manufacturer and is the largest truck manufacturer in
the world.
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